Fortune Crypto 40 | What criteria does Fortune magazine use to rank the top 40 cryptocurrency companies without relying on self-interest?

Founded in 1929, the American financial magazine "Fortune" recently launched "Fortune Crypto 40," which highlights the top 40 companies in the cryptocurrency industry. "Fortune" is renowned for its authoritative Fortune 500 list.

Reasons for the Making of the Fortune Crypto 40 List

Cryptocurrency media often misuse ranking lists to create "influence," gain popularity, and achieve commercial benefits. Providing a credible list of companies in the crypto industry is the reason behind the creation of the "Fortune Crypto 40" list.

According to Fortune magazine, the cryptocurrency industry lacks a ranking list similar to the Fortune 500 for traditional companies. While there are many lists available, most of the content is based on the subjective preferences of a few editors and focuses more on "individuals" rather than companies. This is why this list was created.

Evaluation Method of the Fortune Crypto 40

• Categories: Divided into eight categories, with the top five companies selected in each category
• Survey Method: Surveys conducted by ResearchScape to senior executives of companies
• Disclosure of Bias: Fortune magazine states that due to competitive factors, the complete survey methods are not disclosed, and the survey results cannot completely eliminate subjective factors. The selected companies tend to benefit existing companies rather than new ones, and the emphasis is on rewarding scale and business success rather than design or innovation

Below are the selection criteria for the eight categories:

TradFi Traditional Finance: This category will recognize traditional financial companies that have made significant advancements in the blockchain and cryptocurrency fields, such as banks, exchanges, and fintech companies. Trust and investment companies are not included. Evaluation criteria include products related to crypto assets, investment amounts, and industry reputation.

CeFi Centralized Finance: Includes companies primarily in the cryptocurrency sector, such as digital asset exchanges, stablecoin operators, and custodians. Selection criteria include market share, transparency, and industry reputation.

NFT: Includes top NFT markets and collectibles, with criteria such as market fees and historical transaction volume.

Venture Capital VC: Evaluates investors in the crypto asset field. To qualify for selection, investors must have invested in at least 35 crypto companies, including at least one unicorn company. Angel funds, incubators, and pension funds are not included. Criteria include successful exits, reputation, and social signals.

For more detailed rankings of venture capital investments: Aggregating 300 global cryptocurrency venture capital investments in 2023

Data and Analytics Companies: Recognizes new scientific research companies in blockchain and token research, with criteria including fundraising, number of employees, and media reputation.

Infrastructure Companies: Recognizes companies building infrastructure, with requirements to be publicly listed companies with a market value exceeding $400 million, or private companies of this scale. Examples include mining companies, hardware manufacturers, and software companies.

Blockchain Protocol Companies: Recognizes cryptocurrency projects, including projects like Bitcoin that are not operated by centralized companies, as well as labs, foundations, and other institutions that support and build various blockchain tools and products. Indicators include protocol revenue, transaction volume, and security.

DeFi Decentralized Finance: Must be a legal entity, audited by a reputable company, operating as a decentralized autonomous organization, with a Total Value Locked (TVL) of at least $2 billion and monthly revenue of $100,000.