Economics/Class Relations

What happens to crypto now?

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April 15, 2023

 

A NOTE FROM OUR EDITOR-IN-CHIEF ALYSON SHONTELL
It has definitely been the year from hell for crypto. It begs a lot of questions about what the future of the industry holds.

 

Is blockchain technology still as transformational as many once thought it was? What (if any) companies and use cases are real and lasting? And what does it mean for the future of finance and tech?

 

Fortune set out to find the green shoots in the rubble with our inaugural Crypto 40 list. It’s the first authoritative list based on empirical data as well as a survey of over 200 finance executives.

 

Jeff John Roberts, our crypto editor who oversaw the list, explained the methodology and findings in his newsletter earlier this week:
When we set out, the plan was to replicate the Fortune 500—our flagship list that ranks the biggest U.S. companies by revenue. It quickly became clear that this would be impractical, since few big players in crypto are public companies, and, of those that are, few break out their crypto-specific revenue. We also discovered that it’s not viable to compare the crypto achievements of Fidelity (which ranks No. 4 in the TradFi category) to Chainalysis (No. 1, Data) to a decentralized platform like Curve (No. 5, DeFi). And so we set out to create distinct categories that would permit apples-to-apples comparisons, and a methodology for each. Hundreds of hours later, the list is now live, and I’m proud to say it’s the first of its kind.

 

In some cases, this resulted in predictable outcomes—few people will be surprised to see Uniswap (No. 1, DeFi) and OpenSea (No. 1, NFTs) leading their respective categories—but also some notable omissions. Ripple and MasterCard got edged out, while financial troubles at other big players like DCG and Gemini resulted in reputational hits that kept them off this year’s list. There are also some controversial names on the list, most notably Binance (No. 2, CeFi), which fared poorly in the survey but whose other metrics were dominating, as well as JPMorgan Chase (No. 3, TradFi), whose CEO professes a hatred of crypto but has also overseen some truly innovative blockchain projects.
Read our complete Crypto 40 below.

 
Introducing Fortune’s Crypto 40: Blockchain businesses built to last
BY JEFF JOHN ROBERTS

 

April 10, 2023
 
Fortune’s top trending stories:

MAGAZINE

Advanced A.I. like ChatGPT, DALL-E, and voice-cloning tech is already raising big fears for the 2024 election
A.I. tools are expected to turbocharge the misinformation aimed at voters—and maybe help combat it.

How to invest in the A.I. boom: 11 stocks and 4 funds to buy now
Generating returns in your portfolio from the growing field of artificial intelligence.

Look out, Tesla: China’s biggest electric-car maker wants to take on the world
BYD is rapidly expanding outside its home country to challenge established auto giants.

PERSONAL FINANCE

A FIRE movement pioneer who retired early with $3 million at age 34 says he must return to work to afford his kids’ college education
He also cites a depressed stock portfolio and missing the camaraderie of a workplace as key drivers to get back in the workforce.

Parents are sacrificing retirement savings to set their Gen Z and millennial kids up for success, and it’s creating a ‘vicious cycle’
A majority of U.S. parents have made financial sacrifices to help their adult children, but it could backfire.

FINANCE

A professional couple who make over $200,000 combined say it’s ‘hilarious’ to think they could afford a home in Los Angeles
The expensive housing market is pushing out even the historically-safe high-income earners.

‘The situation is quite fragile’: The IMF just issued its weakest outlook for the world economy in 3 decades
The IMF is worried about a “hard landing,” with sticky inflation meaning the odds of a recession have “risen sharply.”

‘Synthetic data’ could determine whether or not millennial founder Charlie Javice lied to JPMorgan Chase about millions of fake customers
While JPMorgan Chase is alleging fraud, the young fintech founder says she was just trying to protect customer privacy.

Commercial real estate crash or soft landing? Goldman Sachs outlines 3 major headwinds awaiting CRE
Office vacancy rates in San Francisco and Manhattan have hit new highs. And according to Goldman Sachs, it could get even worse.

CRYPTO

The making of Binance’s CZ: An exclusive look at the forces that shaped crypto’s most powerful founder
How China’s hardball startup culture, Canada’s Asian immigrant community, and “Rich Dad, Poor Dad” helped Changpeng Zhao become a mild-mannered but sharp-elbowed competitor.

How Binance turned regular people who plug crypto into millionaires: Inside its 26,000-person influencer army
Binance’s affiliate program gives a select few a path to crypto riches—but at what cost?

LEADERSHIP

Executives are inadvertently stunting the growth of their employees
The NeuroLeadership Institute makes a case for shifting the focus back to employees amid economic uncertainty.

 
 
 

 

Fortune‘s Quarterly Investment Guide
As Ben Carlson writes for Fortune, “Throughout much of the 2010s, the financial markets were in a TINA (there is no alternative) environment.” Beyond equities, there were simply very few good options. Well, say goodbye to TINA. The upside of the Fed’s aggressive rate hiking campaign is that yields are suddenly abundant if you know where to find them. In Fortune’s latest quarterly investment guide, we delve deep into where to (safely) put your money to work and look out to the horizon for the strategies to survive 2023—and far beyond.
Read the 6-story investment guide
Read these Quarterly Investment Guide stories below:

10 mutual funds that to protect and grow your money in a volatile market 

3 tips for picking stocks in a challenging market

10 up-and-coming stocks, according to Gen Z

 
Introducing Fortune’s inaugural Crypto 40 list
Where’s My Village, a podcast about America’s childcare crisis
 

 

Categories: Economics/Class Relations

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