Blockworks has acquired Messari, bringing together two crypto data firms in a deal that also shows how hard the market has turned on once-rich crypto analytics startups.
Blockworks, a crypto data and software company founded in 2018 by Jason Yanowitz and Michael Ippolito, said on June 12 that it acquired Messari, a crypto research and analytics firm founded in 2018 by Ryan Selkis.
- Messari didn't publicly disclose its 2022 valuation. But crypto industry outlets reported at the time that the company was valued at about $300 million.
- The Block reported that figure during Messari's 2022 raise.
- CoinDesk also later reported that Messari planned to raise more money at the same valuation.
Although Blockworks didn't disclose the price, The Wall Street Journal reports that the company paid more than $10 million for Messari, citing a person familiar with the matter. If the deal price was close to $10 million, that would put the sale roughly 96.7% below the reported 2022 valuation.
- Messari's 2022 raise came near the last cycle's confidence peak.
- The company said at the time in a press release that it raised $35 million in a Series B led by Brevan Howard Digital, with participation from Morgan Creek Digital, Samsung Next, FTX Ventures, and others.
What Blockworks is buying
Blockworks framed the deal as a consolidation move. As Yanowitz wrote, Messari has data coverage for more than 40,000 assets and an API covering all metrics related to crypto.
The pitch is that Messari becomes the data layer for Blockworks' push into investor relations, disclosures, ratings, compliance and AI workflows for on-chain markets.
But for Messari, the sale follows a messy period. Selkis stepped down as CEO in July 2024 after a series of controversial political posts triggered internal pushback at Messari, Axios reported.
- In the immediate aftermath of the July 2024 assassination attempt on Donald Trump, Selkis wrote in a now-deleted X post that "anyone that votes against Trump at this point can die in a fucking fire. Literal war."
- He moved into a senior adviser role, and Messari said the change was meant to keep politics from distracting the business.
WSJ also reported that Messari parted ways with another top executive and some staff earlier this year, while Diran Li, who took over as CEO, said the company was shifting toward becoming an "AI-first company."
- Li will join Blockworks as a senior leader, while Yanowitz and Ippolito will continue leading Blockworks.
Blockworks' own pivot
Blockworks has also changed shape. Initially, it started as an events company for institutional crypto investors, then expanded into media, podcasts, newsletters, research and data.
- Axios reported in 2021 that Blockworks expected $8 million to $10 million in revenue that year while staying profitable.
- By 2022, the company had exceeded a $20 million revenue target, according to Axios, before raising $12 million at a $135 million valuation in 2023 from investors including 10T Holdings, Framework Ventures and Santiago Santos.
- In April 2026, Blockworks said it raised a Series A extension at a $192 million valuation, co-led by ParaFi and Reciprocal Ventures, to build trust and information tools for on-chain capital markets.
But Blockworks has also moved away from its initial identity. In late October 2025, Blockworks closed its entire news division in just one day to pivot into data, investor relations and compliance.