2025 was a line in the crypto sand.
A few decades from now, we will look back at these years as 2009 – 2024. Then 2025. Then everything after that.
It’s worth taking a moment to think about exactly why that is and what it means for the next decade.
Until now, crypto can be divided into groups of “Wild West” with good and bad effects.
We have a decade of unprecedented expertise in computer science, cryptography, and finance, which has led to innovations such as 24/7 markets, permissionless financial products, and low-cost global payments.
The ideas and products that crypto created are now changing the world.
But in the same decade, fraud, speculation, and a lack of detail marred the crypto landscape and put a ceiling on the industry’s growth.
That all changed in 2025 with the embrace of the crypto movement. Instead, the SEC went from the crypto war to the announcement of “Project Crypto” and promised to bring economic development to the world.
We also found our first piece of good crypto law (GENIUS). Several crypto companies have gone public. Stablecoins have progressed. Prediction markets are the fastest growing field outside of AI. Multi-billion dollar M&A is happening. DEXs are eating market share from CEXs. RWAs grew 4x. The list goes on…
For the first time, banks, payment providers, startups, and businesses have an incentive to build on the chain.
Everyone likes to compare crypto to the internet, so here’s our analogy: We believe we’ve just experienced the equivalent of 2002 on the internet.
The age of speculation driving cryptocurrencies is over, and the downward spiral has just begun.
This has great implications for investors, developers, and the general public.
In our opinion, this is what Blockworks is all about.
We are making our next bet.
The theme of the last decade can be described as “goods on the chain”. $300B has been transferred to stablecoins. $100B moved to DeFi. Another $50B went into perps and similar markets.
Now, we have entered a new era.
We believe that the theme of the next decade will be real businesses building onchain.
If you look at the eyes, you can see what it looks like. Startups like Hyperliquid, Pump, and Aave make tons of money with tons of employees. Fintechs like Robinhood, Stripe, and Klarna launched their chains with stablecoins. Organizations like BlackRock, Franklin Templeton, JPMorgan all operate on open, public blockchains.
The world is moving on the chain. Slowly at first, then all at once.
In the next ten years, we will go from $10 billion in onchain revenue today to over $1 trillion.
Combined with AI, these changes are creating an explosion of opportunities and new types of companies that haven’t existed before.
We’ve spent the last year positioning ourselves to win what we believe is the biggest opportunity we’ve seen since we launched Blockworks.
The problem as we see it today: Even the most talented teams have to run multi-billion dollar protocols and onchain transactions on blockchains, built-in dashboards, and broken spreadsheets.
There are no operating systems and software that teams can run their business on.
Blockworks has solved this problem.
Our next step is to turn the data platform we have created into a real way to use onchain businesses.
We are creating a world where Blockworks is running the basic information and processes of millions of onchain companies.
More on this in 2026!
2025 is a number
Thanks to our team, 2025 was our strongest year in our history. A few highlights:
- Products: We increased ARR more than 10x this year. Data and analytics ARR is now growing faster than any other business.
- Benefits: We remained profitable, with good operating income and more cash on hand than at the start of the year.
- It has significantly expanded our data platform: Our data warehouse now contains over 2.1 trillion rows of data flowing through 100+ pipelines that ingest data from 82 sources. This powers nearly 2,600 visualizations and 280 dashboards for 145 different companies.
- Posted 4 main analytics items: We launched Analytics 2.0, with a data warehouse, frontend, and studio, and used that backbone to ship a dashboard builder, a chart builder, and the first version of our API (which already has 378 metrics).
- Additional information beyond onchain data: We added offchain datasets for ETFs, fund hunting, M&A, centralized exchanges, and more. This will be important as we add more company information in 2026.
- Display icon: After submitting to the SEC and receiving their support, we launched the Token Transparency Framework, a transparency framework for crypto projects. The TTF is already being used to rate leading protocols and we are now negotiating with exchanges, financial institutions, and other data providers to integrate the entire industry system.
- Podcasts: Our podcast network is the most listened to crypto network. Our creator-led videos now reach millions of professionals and investors in finance, crypto, and technology.
- Cultural: We have built a community of 800,000+ followers for our brands and brands.
- Events: DAS New York was our best conference ever: It was the first time a US president spoke at a crypto conference.
Every day
When we started Blockworks in December 2017, the mission was simple: Create the best source of crypto knowledge and information for investors and professionals.
Since then, we have built a global community of about 100 people. Millions of people listen to our podcasts. Thousands of people have come to our meetings. Hundreds of organizations read our research and use our data.
If you visit, the story of Blockworks is not a collection of coins, product launches, or renting titles. We are a company that has survived many bear markets, survived, and quietly consolidated into something more ambitious than we believed.
As we move into 2026, we are more confident than ever that crypto will help the world in expanding access to assets, increasing transparency, and reducing financial frictions. Blockworks will do the most important work in the world.
For those interested, the opportunity for crypto has never been greater or more important to the public.
See you in the ruins,
Jason and Mike
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