Crypto Exchanges
By Maheen Hernandez
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A Valuation Plummets from $300 Million to Under $10 Million. In 2022, Messari was raising funds at a valuation of $300 million.
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The Crypto Market Shops in 2026. The general context of crypto M&A in 2026 is interesting.
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Blockworks has just acquired Messari. For over $10 million, one of the most recognized names in crypto analytics has changed hands.
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Both companies were founded in 2018. They have coexisted in the same space for nearly eight years — data, research, crypto capital markets — without really stepping on each…
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Not really a surprise if you look at Messari's recent months.
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In 2022, Messari was raising funds at a valuation of $300 million. It was the bull market, valuations were soaring, and Messari seemed on a solid trajectory.
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The result: Blockworks acquires it for just over $10 million. It's a brutal devaluation. From $300 million to a fraction of that in a few years.
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To finance the operation, Blockworks completed an extension of its Series A. The company is now valued at $192 million.
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And Diran Li, the CEO of Messari, isn't disappearing. He joins Blockworks as a senior leader.
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Related: AudiA6, a cryptocurrency mixing service, accused of laundering $389 million in Bitcoin
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The general context of crypto M&A in 2026 is interesting. 144 transactions were concluded, with a total value of $11.8 billion.
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Read also: AudiA6 Crypto Mixer Charged Over $389 Million Bitcoin Laundering Network
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But "active" doesn't mean "healthy". Some of these transactions are distress sales, companies that don't have the strength to stand alone and prefer to merge rather than close.
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What this concretely changes: the combined Blockworks-Messari platform will push on several fronts.
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It's not yet clear how the migration of Messari users to the combined tools will proceed. The source does not specify integration timelines or commercial conditions for existing…
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