Blockworks secures a $192M valuation as it pivots from news to data infrastructure, riding a VC shift toward bigger, late-stage crypto deals.
Summary
- Blockworks’ Series A extension lifts its valuation to $192M, up 42% from its 2023 $135M mark.
- The firm shuttered its news division in 2025 to focus on Blockworks Intelligence and institutional-grade crypto data.
- The raise comes as crypto VC flows consolidate into larger late-stage deals despite fewer overall rounds and mixed market performance.
Crypto data and research platform Blockworks completed a Series A extension financing round, reaching a post-money valuation of $192 million, according to CNBC. The round was co-led by ParaFi Capital and Reciprocal Ventures, with participation from Coinbase Ventures, Advancit Capital, MoonPay, and over 20 founders and operators from leading blockchain protocols including Solana, LayerZero, Pyth, EigenLayer, Kraken, Arbitrum, and Polygon.
The fundraise represents a 42% valuation increase from Blockworks’ initial $12 million Series A round in May 2023, which valued the New York-based company at $135 million. The latest capital injection arrives as Blockworks pivots from its traditional media operations toward becoming a comprehensive data and intelligence platform serving institutional crypto market participants.
Strategic Pivot to Data Infrastructure
Blockworks shuttered its flagship news division in October 2025, redirecting resources toward Blockworks Intelligence and its proprietary data platform. Co-founder Jason Yanowitz emphasized the company’s ambition “to become a true data destination” for digital asset professionals, positioning Blockworks to compete with established financial data providers like Bloomberg and Refinitiv in the crypto-native market segment.
The platform combines real-time market data, institutional-grade research, and governance tracking tools, processing over 100 stories daily while serving clients with sophisticated analytical infrastructure. Blockworks Research delivers on-chain analytics, DeFi protocol metrics, and treasury management insights to hedge funds, family offices, and digital asset investment firms navigating increasingly complex market structures.
Blue-Chip Investor Syndicate
ParaFi Capital, which recently launched its third venture fund with $125 million in fresh capital and now manages $2 billion in assets under management, focuses on backing founders building at the intersection of traditional finance and blockchain technology. The firm’s investment thesis centers on stablecoins, tokenization, institutional DeFi, and prediction markets—verticals where data infrastructure remains critically underdeveloped.
Reciprocal Ventures, an early-stage venture firm based in New York with $201 million in assets under management and a nine-year track record across multiple crypto market cycles, specializes in blockchain infrastructure, protocols, and applications. Coinbase Ventures, which has deployed capital across approximately 618 to 640 total investments since 2018, typically writes $1 million to $5 million initial checks at pre-seed and seed stages, though it participates in later-stage rounds for strategic portfolio companies.
Market Context
The funding arrives during a period when crypto venture capital flows have shifted dramatically toward larger, late-stage rounds. Total crypto fundraising climbed nearly 50% year-over-year between March 2025 and March 2026, even as deal count dropped 46%, indicating investors are concentrating capital in fewer, more mature companies.
Bitcoin (BTC) is currently trading around $77,272, up 0.5% over the past 24 hours. Ethereum (ETH) sits near $2,245, consolidating after recent volatility. The broader crypto market capitalization stands at approximately $2.55 trillion, down 0.38% over the past day.
