Crypto data and media company Blockworks has acquired rival research platform Messari, the Wall Street Journal reported Friday. Bloomberg also confirmed the deal.
The acquisition joins two of the most prominent names in crypto data and research. Blockworks, cofounded by Jason Yanowitz and Michael Ippolito, raised at a $192 million valuation in April from a round led by ParaFi Capital and Reciprocal Ventures, with Coinbase Ventures also participating. The company had explicitly said it planned to use that capital to acquire competitors. Financial terms of the Messari purchase were not disclosed.
The Wall Street Journal reported that Blockworks paid more than $10 million for the company, a significant discount from a reported $300 million its was valued at in 2022
Messari was already in a weakened position heading into the deal. In March, CEO Eric Turner stepped down alongside a round of layoffs as the company pivoted to an "AI-first" strategy focused on institutional research. CTO Diran Li assumed the chief executive role. Turner had himself taken over as CEO in 2024 after founder Ryan Selkis resigned following a series of controversial posts.
Messari also shelved its flagship Mainnet conference in New York, which had drawn thousands of attendees at its peak. The retreat, combined with leadership churn, left the research firm in a significantly diminished competitive position relative to the cycle highs when it was seen as the go-to source for institutional crypto intelligence.
