Crypto Startups Risk Losing VC Support by Overpricing Themselves, Says 10T CEO

By: thecoinrise|2025/05/15 17:15:05
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Crypto startups aiming for sky-high valuations may be missing out on venture capital opportunities, warns Dan Tapeiro, CEO of 10T Holdings. Speaking at the Consensus conference in Toronto on May 14, Tapeiro expressed concern that founders are overestimating their companies’ worth, making it difficult for VCs to justify investments.“For some reason, founders and CEOs think that they should be raising capital at 50 to 80 times revenue,” Tapeiro said during a panel discussion. “That makes it very hard for us to make a return for our liquidity providers.”The overvaluation trend has led 10T Holdings to decline over 200 deals—including well-known names like FTX, BlockFi, and Celsius, all of which later collapsed. Tapeiro emphasized that even promising startups are turned down if their valuation-to-revenue ratios are too high.“We won’t invest in companies we like if the price isn’t reasonable in the beginning,” he noted, adding that 10T targets firms valued over $400–$500 million with no more than a 10x revenue multiple.Moderate Startups ValuationsTapeiro’s cautious stance reflects a broader sentiment in the VC world. Startups with realistic valuations are seen as offering better exit opportunities and more attractive terms for future funding rounds. Lower entry prices also give investors greater upside potential with reduced risk.“Valuation is very important,” Tapeiro stressed. “It impacts everything from follow-on rounds to eventual exits.”However, despite these concerns, the crypto VC market remains robust. According to PitchBook, crypto venture capital deals surged to $6 billion in Q1 2025—a more than 100% increase from the previous quarter—despite deal volume only rising by 8.8%. This suggests that while caution exists, capital is still flowing into the sector.A Balanced Strategy: Tokens and EquityDan Morehead, CEO of Pantera Capital, who spoke alongside Tapeiro, offered a more diversified investment approach. Morehead advised VCs to invest across both private equity and crypto tokens, depending on market cycles.“Each one has their pros and cons,” Morehead said. “There are times when tokens are overpriced and equity is cheap, and vice versa. I always advocate for a balanced spectrum.”Pantera’s strategy has paid off—Morehead shared that 86% of the firm’s investments have delivered returns, with 22 portfolio companies achieving unicorn status. The post Crypto Startups Risk Losing VC Support by Overpricing Themselves, Says 10T CEO appeared first on TheCoinrise.com.

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DDC Enterprise Limited Announces 2025 Unaudited Preliminary Financial Performance: Record Revenue Achieved, Bitcoin Treasury Grows to 2183 Coins

On March 4, 2026, DDC Enterprise Limited (NYSE American: DDC) today announced preliminary, unaudited full-year financial performance for the year ended December 31, 2025. The company expects to achieve record revenue and record positive adjusted EBITDA, primarily driven by continued growth in its core consumer food business and overall margin improvement. The final audited financial report is expected to be released in mid-April 2026.


2025 Full-Year Financial Highlights


Revenue: Expected to be between $39 million and $41 million, reaching a new company high.


Organic Growth: Excluding the impact of the company's strategic contraction of its U.S. operations, core revenue is expected to grow 11% to 17% year over year.


Gross Profit Margin: Expected to be between 28% and 30%, reflecting continued operational efficiency improvements.


Adjusted EBITDA: The company expects to achieve a positive full-year result in 2025, a significant improvement from a $3.5 million loss in 2024, mainly due to rigorous cost controls and a higher-margin sales mix.


Core Consumer Food Business Performance


In 2025, DDC's core consumer food business maintained strong operational performance.


The company also disclosed Core Consumer Food Business Adjusted EBITDA, a metric that further excludes costs related to its Bitcoin reserve strategy and non-cash fair value adjustments related to its Bitcoin holdings from adjusted EBITDA to more accurately reflect the core business performance.


In 2025, Core Consumer Food Business Adjusted EBITDA is expected to be between $5.5 million and $6 million.


Bitcoin Reserve Update


In the first half of 2025, DDC initiated a long-term Bitcoin accumulation strategy, holding Bitcoin as its primary reserve asset.


As of December 31, 2025: The company holds 1,183 BTC.


As of February 28, 2026: Holdings increased to 2,118 BTC


Today's additional purchase of 65 BTC brings the company's total holdings to 2,183 BTC


DDC Founder, Chairman, and CEO Norma Chu stated, "We are proud to have closed 2025 with record revenue and positive adjusted EBITDA, demonstrating the steady growth of the company's consumer food business and the ongoing improvement in profitability. We are building a disciplined, growth-oriented food platform and strategically allocating capital to Bitcoin assets with a long-term view, aligning with our core beliefs. We believe that this dual-track model of 'Steady Consumer Business + Strategic Bitcoin Reserve' will help DDC create lasting long-term value for shareholders."


Adjusted EBITDA Definition
For the full year 2025, the company defines "Adjusted EBITDA" (a non-GAAP financial measure) as: Net income / (loss) excluding the following items:· Interest expense· Taxes· Foreign exchange gains/losses· Long-lived asset impairment· Depreciation and amortization· Non-cash fair value changes related to financial instruments (including Bitcoin holdings)· Stock-based compensation


About DDC Enterprise Limited


DDC Enterprise Limited (NYSE: DDC) is actively implementing its corporate Bitcoin Treasury strategy while continuing to strengthen its position as a leading global Asian food platform.


The company has established Bitcoin as a core reserve asset and is executing a prudent, long-oriented accumulation strategy. While expanding its portfolio of food brands, DDC is gradually becoming one of the public company pioneers in integrating Bitcoin into its corporate financial architecture.


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