Blockworks Raises $12M at $135M Valuation
Dan Tapiero’s 10T Holdings led the investment, with participation from Framework Ventures and crypto angel investor Santiago Santos
Blockworks co-founders Jason Yanowitz and Michael Ippolito
Blockworks has closed a $12 million fundraise with a valuation of $135 million, the crypto media firm announced Tuesday.
The company will use the investment, led by 10T Holdings, to expand Blockworks’ product suite and Research platform, co-founders Michael Ippolito and Jason Yanowitz said.
“Our core belief is that crypto is an entirely new asset class,” Yanowitz added. “As crypto grows, industry participants will need a media and information platform that arms them with the information they need.”
Since launching in 2018, Blockworks has built out its conference program to include the Digital Asset Summit, an institutionally-focused event moving to Washington, D.C. in 2024 to reflect the intensifying regulatory landscape, and DeFi-forward Permissionless, slated for September of this year.
The team also added a news platform in 2021 and unveiled its data and research product in 2022. Blockworks Research now offers GovHub, a platform that tracks protocol proposals across the industry.
Investment participants include Framework Ventures and crypto angel investor Santiago Santos.
The news comes as venture funding in the crypto space slows. Galaxy Digital reported this month that investors put $2.4 billion into crypto-focused companies in the first quarter of 2023, marketing the lowest quarter in around 2 years. The median deal size for the first quarter of the year came in at $2.5 million, down from 2022 third-quarter highs of $4.5 million.
“We’re excited to raise this capital to continue investing in building high-quality content and products that service our audience,” Yanowitz said.
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