According to Cointelegraph, Foresight News reports that Dan Tapiero, CEO of crypto venture capital firm 10T Holdings, stated that too many crypto startups are pursuing valuations far beyond their revenues, making it difficult for venture capitalists to obtain returns. His firm has rejected over 200 projects due to excessive valuations, including the bankrupt FTX, BlockFi, and Celsius. 10T Holdings' investment criteria require enterprise valuations of $400-500 million or more, with a price-to-sales ratio not exceeding 10 times. "For some reason, founders and CEOs believe they should raise funds at 50 to 80 times their revenues. This makes it challenging for us to create returns for liquidity providers."
10T Holdings CEO: A large number of crypto startups scare off venture capital firms with 50 to 80 times valuations
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