After increasing revenue by nearly 2500% in just three years, BlockFi has topped the Inc. 5000 list.

CeFi, a cryptocurrency lender hit with a big fine this year by the SEC, managed to survive the crypto winter and wind up as Inc. magazine's top revenue gainer.

Based on 2022 revenue growth, Inc. magazine has recognized BlockFi as the most rapidly expanding firm in the United States.

As the fastest-growing company of all time, it topped Inc. magazine's Inc. 5000 2022 list by a margin of more than 99,000% compared to the second-placed firm, a website for finding and recruiting nurses.

All 5,000 submissions had a median growth rate of 230%.

The Inc. 500 "ranks corporations by overall revenue growth over a three-year period," as the publication puts it.

BlockFi's accomplishment is especially noteworthy considering a number of dramatic turns for the company and the industry this year, as three years is almost an epoch in the fast-moving world of crypto.

BlockFi, a CeFi crypto financial services company, began the year as a unicorn in talks with JPMorgan about going public, according to a companion article in Inc.

After paying a massive fine to the SEC and state governments in the United States in February for alleged unregistered securities sales, the company is now on track to launch the first SEC-regulated crypto product based on their BlockFi Interest Account, which is seen as at least partially positive news.

However, by midyear, BlockFi had lost its unicorn status due to the onset of the crypto cold.

BlockFi founder Flori Marquez told Inc. that the layoffs were planned and the timing was coincidental, but the company nonetheless fired off 20% of its 850 employees shortly after Celsius banned withdrawals.

She and her co-founder, Zac Prince, described the choice as "gut wrenching" at the time.

The initial July announcement of a $250 million loan transaction between BlockFi and FTX US has been expanded to a $400 million revolving credit facility, and FTX US has the option to acquire BlockFi "for a variable price of up to $240 million."

In 2018, the application price for inclusion on the Inc. 5000 list ranged from $195 to $245, depending on when the application was filed.