Blockworks Acquires Messari for Over $10 Million, Down from $300M Valuation in 2022

According to the Wall Street Journal, cryptocurrency data services provider Blockworks has acquired rival Messari for over $10 million, marking a significant markdown from the company's approximately $300 million valuation in 2022. The transaction reflects growing financial pressures on once high-valued crypto startups amid the prolonged crypto bear market.

Blockworks, founded in 2018, initially focused on media and events before expanding into news, research and data services. The company shut down its news division last October and now prioritizes data, investor relations and compliance services. Messari, also established in 2018, specializes in crypto research, data and analytics.