Meet the Fortune Crypto 100: A ranking of the very best companies in blockchain
In 2010, “crypto” consisted of the Bitcoin blockchain and a motley group of visionaries, builders, and outlaws. Today, crypto is a multi-trillion-dollar industry whose reach spans from humble villages to the biggest banks on Wall Street. This evolution reflects the tireless work of thousands of entrepreneurs who have built a global technology stack, often in the face of hostile governments and media contempt. In order to recognize their work, we are publishing the Fortune Crypto 100—the latest addition to Fortune‘s iconic company rankings. Glance at the list and you will see early crypto pioneers like Coinbase and Kraken, and also cutting edge up-and-comers like Hyperliquid and Ondo, which have only emerged in the last five years. Most striking is the number of companies—including Robinhood, Nasdaq, and Franklin Templeton—that made their name in other realms of finance. There are also firms built around tokenizing stocks or selling ETF shares—businesses that would have seemed unimaginable in the early days of Bitcoin. In order to account for the growing breadth of the industry, the Fortune Crypto 100 is divided into 10 categories, each with internal rankings. The categories include venture capital and stablecoins, where Andreessen Horowitz and Tether took the No. 1 slots respectively, and the highly competitive field of crypto services, where you will find names like analytics firm Chainalysis (No. 1) and payments firm MoonPay (No. 3). Bitcoin (No. 1 on blockchains & protocols) began as an alternative financial system and, notwithstanding the industry’s short-lived foray into Web3, it is clear today that finance is crypto’s killer app. This is reflected in Fortune Crypto 100 categories for centralized crypto finance (CeFi), fintech, DeFi, and TradFi (traditional finance). In ranking the winners, Fortune‘s editorial team relied heavily on our partner, Inca Digital, whose data wizards helped us find the right empirical metrics for e