The Cryptocurrency COMPANY index
Highlighting some of the biggest players in the crypto industry
Cryptocurrencies are still relative newcomers to the world of finance, and while many investors have been eager to dip their toe in the crypto tide, others have been more wary of taking the plunge. This has been the case for individuals buying cryptocurrencies for their own personal portfolios, as well as large companies looking to invest in the businesses behind this growing sector.
As crypto has begun to hit the mainstream, the wide applications of blockchain technology now attract huge attention from banks, investment firms and institutional investors looking to get a piece of the most promising start-ups.
Already there are scores of cryptocurrency exchanges and other companies with valuations above $1 billion, while others have received over a billion dollars in investment alone.
In order to keep track of some of the most prominent and promising crypto companies out there, we’ve created the Cryptocurrency Company Index, shining a spotlight on the most lucrative companies in the crypto landscape.
The most highly valued companies in the crypto sector
It’s no secret that cryptocurrencies have enjoyed a meteoric rise in the past year or so, with prices shooting through the roof to reach record highs, while a seemingly endless supply of new coins continue to flesh out the market. With so much activity in the crypto space, it’s no wonder that there have been some very big winners, with some companies’ valuations soaring into the billions just a few years after their inception.
The top 3 most highly valued companies in the crypto sector
Binance is the most highly valued crypto company in our study, worth as much as $300 billion. The largest cryptocurrency exchange in the world by daily trading volume, Binance is available the world over, except in the USA where a country-specific version of the trading platform was developed to comply with US regulations.
Currently based in the Cayman Islands, Binance was originally founded in China by Changpeng Zhao and Yi He. The company decided to relocate overseas due to the increasing regulation of cryptocurrency in China, a move that has been validated by the current ban on all cryptocurrency trading in the country.
The second most highly valued crypto company is Coinbase, which is worth $85.7 billion. Coinbase is the largest cryptocurrency exchange in the USA by trading volume, taking advantage of Binance’s rocky experience of the American market.
Coinbase is available in over 100 countries, although there are still some notable gaps in their global offering, such as not being able to use the platform to sell cryptocurrencies in Australia.
In third place, with a company valuation of $39 billion, is the trading platform Robinhood. This trading platform has something of a chequered reputation, being at the centre of the Gamestop frenzy of early 2021 that sent the video game retailer’s stock soaring while also being involved in multiple lawsuits.
Despite these legal issues and unfortunate PR problems, Robinhood remains one of the most popular trading platforms in the world for day-trading and first-time investors, offering a huge range of stocks to invest in alongside a core range of some of the most prominent cryptocurrencies.
The top 10 most highly valued companies in the crypto sector
The crypto companies that have received the most investment
Many cryptocurrency companies use funding rounds to help build their business quickly and gain a foothold in this quickly developing market. These funding rounds are not open to your average investor, with only large investment firms, banks and other high-value investors having the opportunity to purchase a piece of these growing businesses. Simply put, the more money that a company can raise, the higher its perceived value and the more likely it is to be able to dominate its corner of the market.
The top 3 crypto companies that have received the most investment
Robinhood tops the table with the highest overall levels of funding, having received a total of $5.57 billion in investment. With such incredible financial backing, it’s no wonder that the trading platform has managed to secure its place as one of the most popular trading platforms on the market.
In second place is cryptocurrency exchange FTX, which has received a total of $1.33 billion in investment. This centralised crypto exchange not only allows investors to trade a wide variety of popular and more niche coins but also for the trading of derivatives.
Bakkt takes third place with a total funding amount of $807.5 million. Taking a more joined-up approach to crypto trading, Bakkt offers users the earn rewards for using the platform, as well as having an integrated payment system allowing you to use your digital currencies to pay for products, services and even reimburse your friends. Bakkt is essentially a digital asset ecosystem that makes digital currencies much more usable in daily life.
The 10 companies that have received the most investment
Total Funding Received
Total Funding Received
Where are these crypto companies based?
Having looked at where in the world these top cryptocurrency companies are based, there are some clearly identifiable hotspots for crypto development dotted around the world. That said, 28 of the 50 crypto companies in our study are located in the United States, with the majority of these being located in California. Below you can see which states are home to multiple crypto companies.
The top states for crypto companies
The top cities for crypto companies
There are also several cities that are home to multiple crypto companies from our study. San Francisco is the crypto company capital of the world, with eight of the 50 companies in our study calling the city home. New York follows with five companies, while cities from across the globe such as Ho Chi Minh City, Hong Kong and Paris are all home to two of the companies listed.
The gender gap in Crypto entrepreneurs
The crypto industry is the biggest new business sector in recent history, with an endless stream of new companies exploring different ways in which crypto and blockchain technology can be leveraged to create value for their customers.
However, the crypto industry is shaping up to be one of the most male-dominated sectors, even with the historically male-oriented world of science and technology. Having recorded the genders of the founders of each of our 50 crypto companies in this study, we can reveal just how much of a gender gap exists within crypto entrepreneurs.
Out of the 121 listed founders, only five were female. This amounts to just 4.13% of all founders, showing that the crypto industry is incredibly male-dominated.
While we can expect more women to get involved in the crypto industry as it develops and matures, it would be valuable to these companies to actively include more women in leadership positions. This would be highly valuable as a way to improve diversity of thought in the industry, which in turn would no doubt lead to new developments in the crypto space, while also helping the industry to attract a wide pool of customers.
Below you can see which cryptocurrency companies have female founders, although all of these companies also have at least one fellow male founder.
Kelly L. Loeffler
Yield Guild Games
Our full crypto company index
Here you can see our complete Cryptocurrency Company Index, detailing each company’s value, funding, founders, founding date and HQ location.
We wanted to create an index of some of the biggest companies in the cryptocurrency industry. To do this, we used Crunchbase to find the top 100 companies with either the “Cryptocurrency” or “Blockchain” tags. We then recorded each company’s name, HQ location, date founded, founders, and total funding raised. We supplemented this data with each company’s valuation, which was sourced from a wide range of authoritative sources such as Bloomberg, Forbes, Reuters and CNBC.
Unfortunately, complete data was not available for half of these companies, so the list size was reduced to 49 instead of 100. We then added in crypto and stock trading platform eToro to increase the number to 50, recording the company’s data in the same way.
Additionally, we looked into the gender gap between male and female crypto company founders. We manually researched the genders of the founders for each company, creating a tally for each gender. This allowed us to reveal what proportion of crypto company founders are women, as well as highlight those female founders in a separate table.