Blockworks Acquires Messari for Over $10 Million Amid Crypto Consolidation

Crypto data and media company Blockworks has acquired analytics firm Messari for more than $10 million, according to a Wall Street Journal report.

Messari is a crypto research and analytics company backed by investors including Brevan Howard Digital and Point72 Ventures. The company raised $35 million in a Series B funding round in 2022 that valued it at around $300 million.

Source: Messari

According to The Wall Street Journal, the steep discount reflects both Messari's recent struggles and broader weakness across the crypto sector.

Earlier this year, Messari replaced CEO Eric Turner with Diran Li and reduced headcount as part of a broader shift toward artificial intelligence. In a LinkedIn post announcing the change, Li said the company had "parted ways with many teammates" while transitioning to an "AI-first company."

Source: LinkedIn, Diran Li

Founded in 2018, Blockworks began as a crypto media and events company before expanding into research and data products. In April, the company announced a Series A extension at a $192 million valuation.

In a blog post announcing the acquisition, Blockworks said Messari provides data coverage for more than 40,000 digital assets and operates an API used by investors, exchanges and developers. The company said the combined business would expand its market data, research, compliance and investor-relations offerings.

In a separate post on X, Messari wrote that existing users would continue to have uninterrupted access to its enterprise services and APIs following the deal.

Related: Metaplanet to form securities arm through Siiibo acquisition

M&A activity reshapes crypto intelligence sector

The Blockworks-Messari deal comes amid a broader wave of consolidation across crypto data, research and media platforms.

Earlier this month, Paris-based crypto data firm Kaiko acquired Amberdata, a US-focused digital asset data provider, to expand its offerings in derivatives analytics, onchain data and AI-powered research tools.

Kaiko said the acquisition would help it serve institutional clients including banks, asset managers, hedge funds and exchanges, while adding Amberdata's derivatives analytics and options data products. The company described the transaction as part of a broader strategy to consolidate institutional-grade crypto market data and analytics.

In January, blockchain oracle provider RedStone acquired Security Token Market and its TokenizeThis conference, adding a dataset covering more than 800 tokenized assets across equities, real estate, debt and funds as it expanded its institutional data business.

A few months later, the Jito Foundation acquired SolanaFloor, a Solana-focused news, research and analytics platform, after it shut down following a $40 million treasury wallet breach at parent company Step Finance. The deal revived the publication and kept its editorial team in place.