MV Global Partner: No project in the industry needs more than $10 million in financing

Odaily Planet Daily News MV Global partner Tom Dunleavy announced on X that no project in the cryptocurrency industry needs more than $10 million in financing. The reason why projects like Berachian, Monad, Abstract, and Movement can raise huge amounts of financing is simply because VC needs to give them so much money. When VC completes fundraising of more than 3 billion USD, it is simply impossible to effectively allocate these funds without constantly making transactions of over 200 million USD. Even if you invest 5 million USD each time, you will need to invest in 60 projects, which means you need to conduct due diligence on over 1000 projects. With extremely low marginal fixed costs and continuous development of AI productivity, why would any project still need 20 million US dollars in funding? VC is actually providing over 5 years of operating funds for these newly established companies, and these projects can also obtain additional funding at the time of token issuance, creating a frightening incentive mechanism for the project party. Tom finally appealed, no more than 10 million dollars in financing, no more than 100 million dollars in valuation.