- Blockworks closes its news division to focus on data and research.
- The company was founded in 2017 and pivoting aligns with emerging opportunities.
- Industry figures involved include co-founder Jason Yanowitz.
Blockworks announced the closure of its news division on X, transitioning its focus towards data, events, and research, with layoffs of key journalists occurring in October 2023.
The shift highlights an evolving crypto media landscape prioritizing data over traditional news, amid strong investor support indicated by recent funding at a $135 million valuation.
Blockworks closes its news division, shifting focus to data and events, affecting crypto journalism’s landscape.
Blockworks has announced the closure of its news division, deciding to pivot towards data and research. The company, founded in 2017, seeks to capitalize on emerging opportunities in data and event management.
Involved industry figures include co-founder Jason Yanowitz and former journalists. Yanowitz described the shift as part of a strategic pivot, posting the announcement on the X platform. “We are shifting our focus towards data, events, and research,” said Jason Yanowitz, co-founder of Blockworks. Careers of several journalists are affected as Blockworks changes its focus.
This strategic move impacts the news media sector within the crypto industry. Despite this significant change, the cryptocurrency market, including assets like BTC and ETH, remains unaffected.
Financially, Blockworks secured $12 million in funding earlier this year, indicating robust confidence from investors. The organization now prioritizes revenue channels such as data subscriptions and events, aligning with a broader industry trend where media firms transition to data-centric models.
The restructuring aligns with a broader industry trend. Historical trends in the media sector show similar pivots can stabilize companies financially. Potential outcomes include increased revenue from data services without affecting specific cryptocurrencies. Regulatory, financial, or technological implications appear minimal thus far.
