Time Magazine continues to warm up to crypto, naming Digital Currency Group and Coinbase in the magazine’s list of 100 Most Influential Companies in 2021.
The Top 100, released on April 27, highlighted the impact the two crypto giants have had over the past 12 months. The list consisted of four different categories – Pioneers, leaders, innovators and disruptors.
The Digital Currency Group has been classified as a disrupter along with other big names like Tesla, Huawei, Shopify, and Clubhouse. Time noted that DCG “demystifies crypto for investors” through its subsidiaries, asset manager Grayscale and crypto news website CoinDesk. To date, Grayscale has total assets under management of $ 45.5 billion (AUM):
“In January 2020, Grayscale’s Bitcoin Trust became the first financial product fully backed by digital currencies and reported to the Securities and Exchange Commission, opening the trust (and with it the blockchain) to more potential investors.”
While Grayscale delivered a mammoth feat over the past year, the parent company’s inclusion on the list can also be influenced by a recent partnership with Time. The Publication and Grayscale are teaming up to release a series of crypto-based instructional videos. Time also agrees to be paid in Bitcoin by Grayscale and to keep BTC on its balance sheet.
Coinbase was listed under Titan along with mainstream giants Facebook, Alibaba, Google, Walmart and Amazon. The exchange has been described as “boosting the credibility of crypto” in connection with its direct listing on the Nasdaq on April 14th. The exchange generated more revenue in the first quarter of this year than in all of 2020, with $ 1.8 billion in the first quarter compared to around $ 1.2 billion for the whole of last year:
“It’s been a huge year for cryptocurrencies, but nothing has been as confirmed as the April 14th direct listing of Coinbase, which operates an exchange where 56 million users buy and sell Bitcoin and more.” Coinbase ended its first day of trading valued at nearly $ 86 billion. This made it the most valuable U.S. financial exchange and gave cryptocurrencies a boost on Wall Street. “
The addition of Coinbase and Digital Currency Group is another step on the road to general adoption of crypto. Until recently, it was hard to imagine that the duo would be included in the company of prestigious institutions in the top 100 list such as Disney, BP, Paypal, Adidas, Spotify and AirBnB.
Time was first published in March 1923, and the magazine and online publication have continued to gradually expose themselves to the crypto world. In March, the company auctioned its first set of token front pages as NFTs, with the top-selling NFT grossing nearly $ 250,000.
Last week it announced a partnership with Crypto.com to accept one-time crypto payments for its 18 month digital subscription and offer 10% cashback to readers who paid with Cypto.com’s CRO coin.