Blockworks, a crypto data and research platform, has completed a Series A extension financing round at 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 valuation marks a 42% increase from Blockworks' initial $12 million Series A round in May 2023, which valued the New York-based firm at $135 million. The fresh capital arrives as Blockworks pivots from its traditional media operations toward a comprehensive data and intelligence platform serving institutional crypto market participants.
Pivot from News 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 said the company aims to "become a true data destination" for digital asset professionals, positioning itself against established financial data providers like Bloomberg and Refinitiv in the crypto-native market. The platform combines real-time market data, institutional-grade research, and governance tracking tools, processing over 100 stories daily. Blockworks Research delivers on-chain analytics, DeFi protocol metrics, and treasury management insights to hedge funds, family offices, and digital asset investment firms.
Blue-Chip Investor Lineup
Lead investor ParaFi Capital recently launched its third venture fund with $125 million and now manages $2 billion in assets under management, focusing on stablecoins, tokenization, institutional DeFi, and prediction markets — verticals where data infrastructure remains critically underdeveloped. Co-lead Reciprocal Ventures, an early-stage VC based in New York with $201 million AUM and a nine-year track record across multiple crypto cycles, backs blockchain infrastructure, protocols, and applications. Coinbase Ventures, which has deployed capital across roughly 618 to 640 total investments since 2018, typically writes $1 million to $5 million checks at pre-seed and seed stages, while also participating in later rounds for strategic portfolio companies.
Market Context: Capital Concentrates in Late-Stage Deals
The funding comes amid a dramatic shift in crypto venture capital: total 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 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.