Blockworks, a prominent crypto data platform, has announced its acquisition of Messari, a well-established crypto data and market intelligence firm. This significant deal brings together two of the industry's largest information providers, marking a pivotal moment in the consolidation of the fragmented cryptocurrency data landscape. The acquisition follows Blockworks' recent Series A extension, which valued the company at an estimated $192 million, with part of the raised capital specifically earmarked for consolidating the crypto information market.
Messari has spent eight years developing a comprehensive data platform for the crypto sector, boasting coverage of more than 40,000 assets and an extensive API. This includes crucial information on markets, exchanges, news, research, stablecoins, protocols, and fundraising, making Messari's data a foundational resource for many in the industry. The merger is designed to create a two-sided platform, effectively connecting both the issuer and investor sides of on-chain capital markets.
Blockworks has historically focused on the issuer side, providing standardised disclosures through its Token Transparency Framework and offering a full-stack investor relations platform for on-chain assets. Messari, conversely, has catered to investors and platforms, supplying market intelligence, data coverage, and AI tools utilised by funds, exchanges, custodians, and regulators. This integration is expected to 'close the loop' by allowing issuers to maintain a trusted record of their business, which investors, exchanges, and regulators can then consume through various channels.
The strategic rationale behind this acquisition is rooted in the belief that the crypto data and information layer will undergo a similar consolidation to that observed in traditional Wall Street information services, where a few dominant platforms like S&P Global and Bloomberg emerged. Blockworks co-founder Jason Yanowitz highlighted that AI agents are anticipated to be among the fastest-growing consumers of this data. He also noted that while traditional markets rely on extensive analyst headcount for ratings and due diligence, crypto's digital and real-time raw material makes it uniquely suited for AI-native workflows.
For existing Messari customers, the core products and data coverage are expected to continue, now bolstered by the broader platform and resources of the combined entity. The immediate product focus for the newly merged company includes expanding data coverage, strengthening APIs, enhancing investor relations tools, and improving monitoring and compliance workflows. This move signifies a concerted effort to bring greater transparency, trust, and structure to the evolving crypto markets.