Crypto is not dead: Fortune 500 companies bullish on the space

More than 80% of Fortune 500 companies have crypto initiatives, a Coinbase report shows

article-image

Vladimir Zotov/Shutterstock modified by Blockworks

share

Despite mounting US regulatory pressure, more than 80% of Fortune 500 companies are either looking into or actively deploying Web3 initiatives, according to a Coinbase study released on Monday. 

Coinbase’s report, which compiled data from Fortune 500 firms, found that a little over half of respondents had experimented with blockchain technology and considered starting their own related initiatives in early 2020. By last year, that figure had increased to over 60%. 

Early entrants circa 2020 included Citi, Google and Goldman Sachs, Coinbase said in its “The State of Crypto: Corporate Adoption.” Companies in the finance, technology and retail sectors have been prominent adopters of crypto technology. 

Those three areas comprise over 75% of all initiatives that the Fortune 100 companies have undertaken since the start of 2020.  

The majority of initiatives that the companies are looking into involve infrastructure development, supply chain management and data collection, according to Coinbase. Payment use cases have also received significant interest.

Over 60% of the executives interviewed said crypto investment would grow, and many of them claimed blockchain technology will play a significant role in shaping the future of business — similar to the role of the internet and artificial intelligence (AI). 

Although the report’s general sentiment (77%) shows Fortune 500 companies believe that blockchain technology will significantly shake up the future of the financial system, almost 90% agree there remains a lack of clear rules and regulations around the technology that is hindering further adoption. 

The report notes that a large majority (over 90%) of respondents believe policymakers must create new rules to govern this emerging technology — rather than enforcing already existing rules that apply to older tech.

It also highlights concerns that the US may lose its competitive advantage if it does not implement favorable policies to accommodate up-and-coming blockchain technology advancements. That’s especially true, per the report, considering the US’ share of worldwide Web3 development dipping from 49% to 20% over the past six years.

The sentiment comes soon after the SEC filed lawsuits against large cryptocurrency players Binance and Coinbase, causing significant market volatility and a flurry of talent and investors moving overseas. 

Coinbase has since launched an integrated campaign which is aimed at teaching policymakers the purpose and role of crypto.


Get the news in your inbox. Explore Blockworks newsletters:

Tags

Upcoming Events

Old Billingsgate

Mon - Wed, October 13 - 15, 2025

Blockworks’ Digital Asset Summit (DAS) will feature conversations between the builders, allocators, and legislators who will shape the trajectory of the digital asset ecosystem in the US and abroad.

Industry City | Brooklyn, NY

TUES - THURS, JUNE 24 - 26, 2025

Permissionless IV serves as the definitive gathering for crypto’s technical founders, developers, and builders to come together and create the future.If you’re ready to shape the future of crypto, Permissionless IV is where it happens.

Brooklyn, NY

SUN - MON, JUN. 22 - 23, 2025

Blockworks and Cracked Labs are teaming up for the third installment of the Permissionless Hackathon, happening June 22–23, 2025 in Brooklyn, NY. This is a 36-hour IRL builder sprint where developers, designers, and creatives ship real projects solving real problems across […]

recent research

Featured.png

Research

Helium stands at a pivotal moment in its evolution as a decentralized wireless network, balancing rapid growth, economic restructuring, and global expansion. With accelerated growth in domestic DAUs and Hotspots supporting its network, Helium is leveraging strategic partnerships and innovative proposals to scale internationally. The recent implementation of HIP 138, “Return to HNT,” has unified its token economy under HNT, simplifying participation and strengthening liquidity, while HIP 139’s phase-out of CBRS refocuses efforts on scalable Wi-Fi offload. Meanwhile, governance shifts under HIP 141 raise questions about centralization as Nova Labs consolidates control over the roadmap.

article-image

In 2011, WikiLeaks faced a financial blockade imposed by the US government. It was Bitcoin’s first major test.

article-image

Kado’s founder Emery Andrew spoke to Blockworks about the acquisition and what’s next for the team

article-image

LayerZero’s Bryan Pellegrino chatted with Blockworks about the firm’s next steps and its 10-year runway

article-image

Colosseum co-founder Matty Taylor is seeing “high-performance [Solana] founders showing a lot of interest in private trading technology”

article-image

Executives weigh the growth potential they see in the public stock and private credit/equities arenas

article-image

Players can stake ME, trade tokens and link wallets to climb the leaderboard