Blockworks Acquires Messari for Over $10 Million Amid Crypto Sector Weakness
- Blockworks has acquired analytics firm Messari for more than $10 million, significantly lower than its previous valuation of around $300 million.
- Messari, backed by investors like Brevan Howard Digital and Point72 Ventures, raised $35 million in a Series B funding round in the past.
- The acquisition comes as Messari faces challenges, including leadership changes and a shift towards artificial intelligence.
- Messari provides data coverage for over 40,000 digital assets and operates an API used by various market participants.
- This deal is part of a broader trend of consolidation in the crypto data and analytics sector, with other firms also merging recently.
The acquisition of Messari highlights ongoing challenges within the crypto sector and reflects a strategic move by Blockworks to enhance its offerings in market data and research.
With this acquisition, Blockworks aims to expand its capabilities while addressing the needs of investors and developers in an evolving market landscape.(Source)
