Wall Street · Bloomberg · Bitcoin Magazine
Blockworks Picks up Messari in Deal Highlighting Crypto’s Data Consolidation Race
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Blockworks' acquisition of Messari for over $10 million combines two major crypto data platforms.
Key facts
- Blockworks paid more than $10 million for Messari, a steep discount from Messari’s approximately $300 million valuation when it raised a $35 million Series B led by Brevan Howard’s crypto arm
- Blockworks' acquisition of Messari for over $10 million combines two major crypto data platforms
- The deal was funded in part through Blockworks’ recently closed Series A extension, which valued the company at $192 million
- The markdown reflects both Messari’s recent difficulties, including the 2024 departure of co-founder and longtime CEO Ryan Selkis and subsequent staff reductions, and broader headwinds gripping
Summary
Blockworks, the New York-based crypto data and investor relations platform, has acquired rival Messari in a deal that underscores the growing consolidation pressure reshaping the digital asset industry, and the steep valuation resets facing once high-flying crypto startups. The acquisition brings together two of the industry’s largest crypto information businesses. Blockworks, also founded in 2018, has focused on the issuer side of crypto capital markets, offering standardized disclosures through its Token Transparency Framework and a full-stack investor relations platform for onchain assets. Blockworks paid more than $10 million for Messari, a steep discount from Messari’s approximately $300 million valuation when it raised a $35 million Series B led by Brevan Howard’s crypto arm in 2022, with Point72 Ventures also among its backers, .