Blockworks Acquires Messari in Discounted Crypto Deal

That price marks a steep fall for Messari. The startup raised money at a $300 million valuation back in 2022. Neither company disclosed the exact figure, the deal structure, or a closing date in the official announcement.

Blockworks Acquires Messari at a Steep Discount

The reported price tells the story. Blockworks paid north of $10 million for a startup once valued near $300 million. That works out to a markdown of more than 95%. The WSJ framed the purchase plainly as a deal struck “at a discount.”

Messari raised a $35 million Series B in September 2022. Brevan Howard Digital led that round. Backers also included Point72 Ventures, Galaxy, and Coinbase Ventures. In total, the company raised about $60 million across its life.

So the new price values years of product, data, and brand at a fraction of past investor expectations. For Blockworks, the math reads as a bargain. For Messari’s earlier backers, it reads as a write-down.

From a $300 Million Peak to a Sale

Messari launched in 2018 under founder Ryan Selkis. It grew into a crypto research and analytics platform. By 2022, it covered more than 40,000 tokens and assets through screeners, reports, and APIs. Then the company’s fortunes turned.

Selkis stepped down as chief executive in July 2024. The exit followed a run of controversial political posts. He later left entirely for a political venture. Eric Turner took over, and the leadership churn continued.

In March 2026, Turner exited too. Chief technology officer Diran Li became CEO. At the same time, Messari cut staff and pivoted toward an “AI-first” strategy. Three months later, the company agreed to sell.

What Blockworks and Messari Say

When Blockworks acquires Messari, the two companies frame it as a strategic union, not a rescue. Blockworks co-founder Jason Yanowitz said the deal connects two halves of the same market.

“Issuers maintain a trusted record of their business,” Yanowitz said. He added that investors, exchanges, and regulators then consume that record through research, APIs, and automated workflows. “Together, we close the loop,” he said.

Messari CEO Diran Li echoed the framing. He confirmed the sale on X. According to Li, both firms have spent years pushing for more transparency and structure in crypto markets. He said joining forces lets them pursue that vision more efficiently. Li is also joining Blockworks’ leadership team.

Building a System of Record for Onchain Assets

The stated goal is a single “system of record” for onchain assets. Messari brings the investor-facing side. That includes data on 40,000-plus assets, research, token unlocks, and APIs. Its customers span funds, exchanges, custodians, and developers. Blockworks brings the issuer-facing side through its Token Transparency Framework and investor relations tools.

The framework lets token issuers publish standardized disclosures, much like company filings in traditional markets. That data would then flow into Messari’s platform for analysis, research, and automated workflows. The combined pitch mirrors what Bloomberg and S&P Global do in traditional finance. In short, the two firms want to own both ends of the information chain.

Still, the companies face a crowded field. Rivals include Nansen, Dune Analytics, Token Terminal, and Artemis. Legacy data providers are also expanding into crypto. Execution, not ambition, will decide whether the merger holds.

A Consolidation Wave in Crypto Data

The deal lands during a broad repricing of crypto data and software businesses. Valuations swelled during the 2022 bull market. Since then they have compressed sharply, as trading volumes fell and investor attention shifted toward AI.

Blockworks itself raised a Series A extension in April 2026. That round valued the firm at $192 million and gave it the firepower to buy. Meanwhile, crypto deal volume in early 2026 ran modestly higher year over year, according to Architect Partners data cited by the WSJ.

Comparable data startups once raised at far richer multiples. Names like Nansen and Dune Analytics drew premium rounds during the bull market. Eric Risley of Architect Partners described today’s market as one of “haves and have-nots.” In short, well-capitalized firms are absorbing weaker ones. The Messari sale fits that pattern cleanly.

What Comes Next for the Merger

Plenty remains unknown. The companies have not disclosed the deal structure or the closing date. They also stayed quiet on staffing plans and on whether the Messari brand survives the integration. For now, no immediate disruption for users was promised.

The clearest signal is direction, not detail. The move that saw Blockworks acquire Messari is a bet on scale. Blockworks is betting that owning both the issuer and investor sides of crypto data creates a durable moat. Readers can follow OCT for updates as the integration roadmap and any product changes take shape.