Blockworks, a New York-based crypto and business relationship platform found to compete with Messari in a deal that confirms the growing consolidation that is reshaping the digital asset market — and the resurgence of price volatility that has plagued high-flying crypto startups.
The acquisition brings together two of the largest businesses in the crypto industry. Messari, founded in 2018, has built a comprehensive platform for over 40,000 digital assets, along with APIs, market intelligence, research tools, and powerful AI workflows used by funds, exchanges, regulators, and developers.
Blockworks, which was also founded in 2018, has focused on the provision of large crypto markets, providing consistent information through its Token Transparency Framework and a platform for connecting investors to onchain assets.
Blockworks paid more than $10 million for Messari — a slight discount from Messari’s nearly $300 million valuation when it raised a $35 million Series B round led by Brevan Howard’s crypto arm in 2022, with Point72 Ventures also backing him. according to in the Wall Street Journal.
The decline reflects Messari’s recent struggles — including the 2024 departure of co-founder and longtime CEO Ryan Selkis and staff cuts — and the headwinds brewing in the crypto industry.
“This acquisition unites two sides of the market,” said Jason Yanowitz, co-founder of Blockworks. “Issuers maintain a reliable record of their transactions, and investors, exchanges, and regulators consume that record through analytics, APIs, and service flows.”
Blockworks steps up to integrate the fragmented crypto data market
The deal was backed by additional funding through Blockworks’ Series A expansion that only added $192 million in value. That round was led by ParaFi and Reciprocal Ventures and included participation from Coinbase Ventures, among others.
Blockworks said it raised funds to integrate a decentralized market for data and crypto information, similar to how Wall Street’s information was linked to major platforms such as Bloomberg, FactSet, and S&P Global.
Messari’s CEO, Diran Li, who took over after Selkis’ departure and repositioned the company as an “AI-first company,” will join Blockworks as an executive under co-founders Yanowitz and Michael Ippolito.
The deal comes at a time when crypto M&A activity is still high despite the market’s headwinds. Crypto companies have completed 144 transactions totaling $11.8 billion in market value so far in 2026 – about 3.5% from the same period last year – according to data from advisory firm Architect Partners.
However, Eric Risley, founder of Architect Partners, warned that continued pressure on retail sales and high prices could make sales difficult. “We are in the midst of the creation of the haves and the have-nots,” said Risley, pa WSJ.
Both Blockworks and Messari executives said the combined platform will prioritize deep data transmission, powerful APIs, improved process tracking, and AI-based research tools as the digital economy becomes increasingly mobile.
