Summary:
• Crypto media outlet Blockworks has raised $12 million in a funding round led by private equity firm 10T Holdings at a $135 million post-money valuation.
• The capital will be used to help expand the outlet’s research and data analytics offering, Blockworks Research.
• Framework Ventures and Santiago Santos also participated in the round.
Blockworks Raises $12M at $135M Valuation
Crypto media outlet Blockworks has raised $12 million in a funding round led by private equity firm 10T Holdings at a $135 million post-money valuation. The capital will be used to help expand the outlet’s research and data analytics offering, Blockworks Research. Framework Ventures and Santiago Santos also participated in the round.
Purpose of Funding Round
The new investment comes during a particularly difficult time for crypto-focused publications due to the extended bear market and a number of high-profile scandals that have further rocked the industry. The capital from this funding round will be used to double down on efforts to bring better information to the industry through Blockwork’s research platform, which is relied upon by financial institutions and deeply crypto-native investors for better decision making.
What is Blockworks?
Blockworks is a crypto media outlet that provides news and information on cryptocurrency, digital assets, and the future of money with journalistic standards and strict editorial policies. It is an independent operating subsidiary of Digital Currency Group.
Investors Involved
The funding round was led by private equity firm 10T Holdings with additional participation from Framework Ventures and Santiago Santos.
Previous Scandals Involving Crypto Media Outlets
Recently there have been several high profile scandals involving crypto-focused outlets such as CoinDesk’s parent company Digital Currency Group announcing it is looking to refinance obligations owed to its bankrupt lending division Genesis, as well as The Block revealing secret financial ties between Sam Bankman-Fried’s Alameda Research in December 2020.