Blockworks, a crypto media outlet, has raised 12 million through a round of funding led by 10T Holdings. The company values the venture at $135 million after-money. The capital raised will be used to expand Blockworks Research, the outlet’s data and research analytics service.

In a blog post, Blockworks cofounders Jason Yanowitz, Michael Ippolito, wrote: “Over the past year we have been building Blockworks Research – a powerful platform that brings data, analytics and research together with governance and real-time information.” Blockworks Research is relied upon by financial institutions and crypto-native investors to make better investment decisions. This investment will allow us to increase our efforts to provide better information to the crypto industry.

Santiago Santos, Framework Ventures, and other investors also took part in this round.

The investment is made at a time when crypto-focused publications are facing a difficult period due to an extended bear market, as well as a number high-profile scandals which have further shaken the industry. The Block revealed secret financial ties with Sam Bankman Fried’s Alameda Research in December. Digital Currency Group, CoinDesk’s parent company announced Tuesday that it was seeking to refinance outstanding obligations due to its bankrupt Genesis lending division.