Blockworks just closed a Series A extension at a $192 million valuation. Co-led by ParaFi Capital and Reciprocal Ventures, the round drew in Coinbase Ventures, Advancit Capital, MoonPay Ventures, and over 20 customers including Firestreak, Modular, and Auros. It’s a sharp pivot for the New York-based firm, once known for crypto media and events like the Digital Assets Summit. Now, they’re chasing dominance in data, investor relations, and disclosures for on-chain assets.
Crypto’s data market sprawls without a leader. Traders stitch together fragmented tools—expensive, unreliable. Blockworks sees an opening worth billions, much like traditional finance’s information giants. Co-founder Jason Yanowitz puts it bluntly: “Crypto has a trust problem, and it is two-sided. Businesses have not done the work to earn institutional trust, and investors do not have the information they need to underwrite the asset class.” (CNBC)
Regulatory winds help. The SEC greenlit spot bitcoin ETFs in 2024, ether ETFs soon after. President Trump signed the Genius Act in 2025, legitimizing stablecoins. Tokenized assets boom: equities jumped nearly 30x from $30 million late 2024 to $1 billion by Q1 2026, per Blockworks’ own site—still a speck against the $120 trillion global equity pile. (Blockworks) But without solid data infrastructure, adoption stalls.
Blockworks’ play? Three pillars. First, data: trillions of rows from 100+ pipelines, nearly 100 sources, fully indexed blockchains, direct feeds from a dozen major exchanges. Hundreds of funds and firms build workflows on it. Second, investor relations: a full-stack platform with branded portals, analytics, quarterly reports. Solana, BNB Chain, Jito already live; more coming. Third, disclosures: the Token Transparency Framework rates 30+ issuers now, targeting 200 by year-end. They’ve pitched it to the SEC and CFTC; exchanges talk integration. This could shape mandated token standards.
Annual recurring revenue? Up over 500% last year, more than 10x since the prior raise at $135 million in 2023. Events still contribute, but data drives growth. Proceeds fuel acquisitions in a splintered field. “Every asset class in history has required data you can rely on, a way for businesses to communicate with investors, and disclosures that hold issuers accountable,” Yanowitz says. “In traditional markets, that infrastructure is worth hundreds of billions of dollars. In crypto, almost none of it exists.” (CNBC)
Reciprocal’s Craig Burel echoes the vision. In a thread, he calls it the “Morningstar for crypto.” The trust gap blocks scale, he argues. Technology works. Rules catch up. Institutions arrive. Solve information flows—data, IR, disclosures—and capital floods in. Blockworks earns trust from crypto natives and Wall Street alike. Customers dictate roadmaps. Products ship fast. (X post by Craig Burel)
Business Wire confirmed the raise details Tuesday. (Business Wire) Coverage rippled fast: KuCoin, Bitget, MEXC, Coinlaw.io all highlighted the valuation jump and acquisition plans. (KuCoin; Bitget) On X, buzz built. “Massive signal for infrastructure phase,” one trader posted. Another: “Exactly what the space needs.”
Challenges loom. Data’s cheap; credibility isn’t. Rivals like Kaiko just raised $53 million for similar tools. (Blockworks) Fragmentation persists—scrapers, aggregators everywhere. Blockworks must prove reliability amid crypto’s volatility. Yanowitz admits the lag: “We’re so behind on data and research and information [for digital assets]. In traditional finance you have Morningstar … but also like FactSet … and Moody’s and S&P Global Research. Those don’t exist yet for assets that are coming onto [the blockchain].”
And yet. ARR explodes. Customers back the round. Institutions eye on-chain everything: stocks, bonds, real estate. Blockworks positions at the info layer—AI-native, on-chain born. If they consolidate via buys, rate tokens credibly, and scale IR, they could own the stack. Traditional players? Bloomberg, S&P loom large, but crypto moves 24/7, global, transparent. Natives might win.
Short term, watch acquisitions. Year-end, 200 disclosures. Longer? Billions in value as tokenized markets mature. Blockworks isn’t just reporting crypto. They’re wiring it for prime time.
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