Coinbase Ventures injects $192m into Blockworks to bridge institutional crypto confidence gap
Blockworks’ valuation has surged to $192 million after the New York-based crypto data and infrastructure company closed a Series A extension funding round. The round was co-led by ParaFi Capital and Reciprocal Ventures, with participation from Coinbase Ventures, Advancit Capital, MoonPay Ventures and other crypto investors. Blockworks did not disclose how much capital was raised, but the new valuation marks a significant jump from the $135 million figure recorded in May 2023.
More than 20 founders and operators drawn from Blockworks’ customer base also invested personally in the round. The list includes leaders from Solana, Jito, LayerZero, Arbitrum, Kraken, EigenLayer, Polygon, ZKsync, Berachain and Pudgy Penguins — a sign of the close ties the company has cultivated with the crypto ecosystem.
From media outlet to data powerhouse
Blockworks was founded in 2018 by Jason Yanowitz and Michael Ippolito as a crypto media and events business. That origin gave the company a distinct advantage over pure data providers: it already had an audience and direct relationships with institutional investors and crypto founders — many of whom later became both customers and investors. The shift into data and infrastructure was deliberate, according to the company. Media built the audience; data would provide steady, recurring revenue and strengthen Blockworks’ competitive position. In October 2025 the company shuttered its news division entirely to focus on its intelligence platform.
Today Blockworks offers three integrated products. Its data platform ingests trillions of rows of blockchain and exchange data from nearly 100 sources, including fully indexed blockchains and direct feeds from more than a dozen major exchanges, to support funds and companies. Blockworks IR, launched at the Digital Assets Summit (DAS), is described as the first full-stack investor relations platform built for on-chain businesses, offering branded investor portals, curated analytics, quarterly reports and tools for managing investor engagement. Inaugural launch partners included Jito and BNB Chain. The third product is the Token Transparency Framework (TTF), a standardised disclosure system for crypto issuers that covers 18 criteria across four categories: Project and Team Verification, Token Supply and Allocations, Transactions and Market Structure, and Financial Disclosure. Blockworks has presented the TTF to the Securities and Exchange Commission and the Commodity Futures Trading Commission and is in discussions with major exchanges about integration. As of April 2026, more than 30 issuers had been rated under the framework, though adoption remains low — only 9% of over 150 audited protocols had filed – with plans to scale to over 200 by year-end.
Competitive landscape and differentiator
Blockworks competes with Coin Metrics, Nansen and Messari in data, and with Dune Analytics, Kaito and The Block Research in related fields. What sets it apart, the company says, is that it combines a data API, investor relations tools and a disclosure framework into a single suite — a one-stop shop that aims to become the crypto industry’s answer to Morningstar. The broader market has been grappling with data fragmentation, inconsistent disclosures and an “institutional trust gap” driven by concerns over legitimacy and volatility. Blockworks’ integrated model is designed to address those headwinds by providing the transparency and professionalism that traditional finance demands.
Expansion plans and growth
Blockworks plans to use the new capital to acquire select competitors and continue building out its data platform for crypto and tokenised assets. The company reported over 500% growth in annual recurring revenue last year, underscoring strong demand. It employs nearly 100 people across a dozen countries and hosts the Digital Assets Summit, a prominent institutional crypto conference.
The funding round comes amid a broader trend of crypto venture capital consolidating into larger, later-stage deals even as the overall number of rounds declines. Blockworks’ previous Series A in May 2023 raised $12 million at a $135 million valuation, led by 10T Holdings. The company’s estimated annual revenue stands at roughly $27.8 million, with revenue per employee of about $179,406, according to industry estimates.
