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Which Cryptocurrency Companies are on the Forbes 2025 Fintech 50 List?
Original Article Title: The future of crypto and blockchain: fintech 50 2025
Original Article Author: Nina Bambysheva, Forbes
Original Article Translation: Luffy, Foresight News
In 2024, cryptocurrency finally entered the mainstream. Over a dozen Bitcoin exchange-traded funds (ETFs) were approved, institutional capital poured in, and the market, once dominated by retail investors, gained broader acceptance on Wall Street. Subsequently, Donald Trump won the election, causing a further surge in cryptocurrency asset prices, with hopes that Trump's government would usher in a golden age for cryptocurrency. By December, the price of Bitcoin had surpassed $100,000.
Trump's early pro-cryptocurrency stance was already clear, evident in key appointments and executive orders: venture capitalist David Sacks was appointed as the czar of AI and cryptocurrency affairs, Scott Bessent took charge of the Treasury, and former U.S. Securities and Exchange Commission (SEC) commissioner Paul Atkins was nominated to lead the regulatory body. Trump also signed an executive order titled "Strengthening American Leadership in Digital Financial Technology," which included measures to assess a "national digital asset reserve," among others. In this environment, companies like Figure, Securitize, and Fireblocks flourished, aligning with some of the industry's most prominent trends.
Take the tokenization of real-world assets (RWA), for example, a concept that has evolved from a buzzword to a multi-billion-dollar industry. A typical case is Figure, co-founded by former SoFi CEO Mike Cagney, which applies blockchain technology to the traditional lending space and has tokenized over $13 billion in home equity credit lines. Meanwhile, Securitize partnered with BlackRock to launch BUIDL, a tokenized U.S. Treasury product that has attracted $640 million in investment.
Additionally, there is Fireblocks, a leading company in the crypto infrastructure field, which has safeguarded over $6 trillion in digital asset transactions. It recently introduced a state-regulated custody platform and AI-driven trading optimization tools to meet the growing needs of institutional clients.
Here are three crypto companies selected for the 2025 Fintech 50:
Figure
Headquarters: New York State, New York City
Founded by former SoFi CEO Mike Cagney, Figure is a company that leverages technology to expedite the application process for home equity lines of credit. It also has a custom blockchain platform that can tokenize home equity lines of credit (i.e., securitize them) and sell them to yield-seeking investors through its private lending marketplace. In 2024, Figure saw its revenue grow by over 50% from 2023 to reach $3.21 billion with a gross margin of 55%. Of its 150,000 customers, around 70% come from over 200 fintech and mortgage bank partners, including real estate platforms like RATE (formerly Guaranteed Rate) and Credit Karma. In April 2024, former Brex executive Michael Tannenbaum took over as CEO, with Cagney assuming the role of Executive Chairman.
Funding: Raised $500 million from companies like Apoll, Morgan Creek, and Ribbit
Latest Valuation: $32 billion
Last Valuation Date: May 2021
Highlights: Its software has been used to originate over $13 billion in home equity lines of credit
Co-founders: Executive Chairman Mike Cagney, 53; June Ou, 59, former President, now serving as Advisor
CEO: Michael Tannenbaum, previously Chief Revenue Officer at SoFi, Chief Operating Officer at Brex, joined Figure in 2024
Fireblocks
Headquarters: New York State, New York City
Fireblocks' software helps investors as well as institutions like Worldpay, Revolut, BNP Paribas, and BNY Mellon securely hold cryptocurrency. Despite generating $1.24 million in revenue in 2024, the company has yet to turn a profit and is currently heavily investing in new initiatives to support cryptocurrency activities for entities ranging from banks to startups. Key products launched over the past year include a New York State-regulated limited purpose trust company aimed at providing customers with bank-grade custody services and an artificial intelligence tool to help clients navigate market changes more flexibly during trading activities.
Funding: Raised $1 Billion from companies such as Spark Capital, Cyberstarts, and Coatue
Latest Valuation: $8 Billion
Last Valuation Date: January 2022
Highlights: Its infrastructure has supported over $60 Trillion in transactions since inception
Co-Founders: CEO Michael Shaulov, 42, previously founded the cybersecurity startup Lacoon Mobile Security; CTO Pavel Berengoltz, 48; CPO Idan Ofrat, 43
Securitize
Location: Miami, Florida
Securitize tokenizes real-world assets such as government bonds or private equity on the blockchain, allowing investors to trade with ease. Securitize's flagship product is BUIDL, a tokenized government bond product launched in partnership with BlackRock in March 2024. BUIDL currently holds $640 million in assets.
Funding: Raised $170 Million from BlackRock, Blockchain Capital, Morgan Stanley, and other companies
Latest Valuation: $479 Million
Last Valuation Date: July 2022
Highlights: Has tokenized over $1 Billion in assets in partnership with firms like BlackRock, Hamilton Lane, and KKR
Co-Founders: CEO Carlos Domingo, 54; President Jamie Finn, 47
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DDC Enterprise Limited Announces 2025 Unaudited Preliminary Financial Performance: Record Revenue Achieved, Bitcoin Treasury Grows to 2183 Coins
On March 4, 2026, DDC Enterprise Limited (NYSE American: DDC) today announced preliminary, unaudited full-year financial performance for the year ended December 31, 2025. The company expects to achieve record revenue and record positive adjusted EBITDA, primarily driven by continued growth in its core consumer food business and overall margin improvement. The final audited financial report is expected to be released in mid-April 2026.
Revenue: Expected to be between $39 million and $41 million, reaching a new company high.
Organic Growth: Excluding the impact of the company's strategic contraction of its U.S. operations, core revenue is expected to grow 11% to 17% year over year.
Gross Profit Margin: Expected to be between 28% and 30%, reflecting continued operational efficiency improvements.
Adjusted EBITDA: The company expects to achieve a positive full-year result in 2025, a significant improvement from a $3.5 million loss in 2024, mainly due to rigorous cost controls and a higher-margin sales mix.
In 2025, DDC's core consumer food business maintained strong operational performance.
The company also disclosed Core Consumer Food Business Adjusted EBITDA, a metric that further excludes costs related to its Bitcoin reserve strategy and non-cash fair value adjustments related to its Bitcoin holdings from adjusted EBITDA to more accurately reflect the core business performance.
In 2025, Core Consumer Food Business Adjusted EBITDA is expected to be between $5.5 million and $6 million.
In the first half of 2025, DDC initiated a long-term Bitcoin accumulation strategy, holding Bitcoin as its primary reserve asset.
As of December 31, 2025: The company holds 1,183 BTC.
As of February 28, 2026: Holdings increased to 2,118 BTC
Today's additional purchase of 65 BTC brings the company's total holdings to 2,183 BTC
DDC Founder, Chairman, and CEO Norma Chu stated, "We are proud to have closed 2025 with record revenue and positive adjusted EBITDA, demonstrating the steady growth of the company's consumer food business and the ongoing improvement in profitability. We are building a disciplined, growth-oriented food platform and strategically allocating capital to Bitcoin assets with a long-term view, aligning with our core beliefs. We believe that this dual-track model of 'Steady Consumer Business + Strategic Bitcoin Reserve' will help DDC create lasting long-term value for shareholders."
For the full year 2025, the company defines "Adjusted EBITDA" (a non-GAAP financial measure) as: Net income / (loss) excluding the following items:· Interest expense· Taxes· Foreign exchange gains/losses· Long-lived asset impairment· Depreciation and amortization· Non-cash fair value changes related to financial instruments (including Bitcoin holdings)· Stock-based compensation
DDC Enterprise Limited (NYSE: DDC) is actively implementing its corporate Bitcoin Treasury strategy while continuing to strengthen its position as a leading global Asian food platform.
The company has established Bitcoin as a core reserve asset and is executing a prudent, long-oriented accumulation strategy. While expanding its portfolio of food brands, DDC is gradually becoming one of the public company pioneers in integrating Bitcoin into its corporate financial architecture.
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DDC Enterprise Limited Announces 2025 Unaudited Preliminary Financial Performance: Record Revenue Achieved, Bitcoin Treasury Grows to 2183 Coins
On March 4, 2026, DDC Enterprise Limited (NYSE American: DDC) today announced preliminary, unaudited full-year financial performance for the year ended December 31, 2025. The company expects to achieve record revenue and record positive adjusted EBITDA, primarily driven by continued growth in its core consumer food business and overall margin improvement. The final audited financial report is expected to be released in mid-April 2026.
Revenue: Expected to be between $39 million and $41 million, reaching a new company high.
Organic Growth: Excluding the impact of the company's strategic contraction of its U.S. operations, core revenue is expected to grow 11% to 17% year over year.
Gross Profit Margin: Expected to be between 28% and 30%, reflecting continued operational efficiency improvements.
Adjusted EBITDA: The company expects to achieve a positive full-year result in 2025, a significant improvement from a $3.5 million loss in 2024, mainly due to rigorous cost controls and a higher-margin sales mix.
In 2025, DDC's core consumer food business maintained strong operational performance.
The company also disclosed Core Consumer Food Business Adjusted EBITDA, a metric that further excludes costs related to its Bitcoin reserve strategy and non-cash fair value adjustments related to its Bitcoin holdings from adjusted EBITDA to more accurately reflect the core business performance.
In 2025, Core Consumer Food Business Adjusted EBITDA is expected to be between $5.5 million and $6 million.
In the first half of 2025, DDC initiated a long-term Bitcoin accumulation strategy, holding Bitcoin as its primary reserve asset.
As of December 31, 2025: The company holds 1,183 BTC.
As of February 28, 2026: Holdings increased to 2,118 BTC
Today's additional purchase of 65 BTC brings the company's total holdings to 2,183 BTC
DDC Founder, Chairman, and CEO Norma Chu stated, "We are proud to have closed 2025 with record revenue and positive adjusted EBITDA, demonstrating the steady growth of the company's consumer food business and the ongoing improvement in profitability. We are building a disciplined, growth-oriented food platform and strategically allocating capital to Bitcoin assets with a long-term view, aligning with our core beliefs. We believe that this dual-track model of 'Steady Consumer Business + Strategic Bitcoin Reserve' will help DDC create lasting long-term value for shareholders."
For the full year 2025, the company defines "Adjusted EBITDA" (a non-GAAP financial measure) as: Net income / (loss) excluding the following items:· Interest expense· Taxes· Foreign exchange gains/losses· Long-lived asset impairment· Depreciation and amortization· Non-cash fair value changes related to financial instruments (including Bitcoin holdings)· Stock-based compensation
DDC Enterprise Limited (NYSE: DDC) is actively implementing its corporate Bitcoin Treasury strategy while continuing to strengthen its position as a leading global Asian food platform.
The company has established Bitcoin as a core reserve asset and is executing a prudent, long-oriented accumulation strategy. While expanding its portfolio of food brands, DDC is gradually becoming one of the public company pioneers in integrating Bitcoin into its corporate financial architecture.
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