qtstc

I received an offer from a medium-sized startup with equity grant based on a recent round that might have just been finalized, and is not publicly announced yet.

The current round 10x the valuation from last round six month ago. I am worried that the valuation can be inflated because it is a crypto startup. The investors clearly wanted to get in, but I am not so sure about taking the same risk as a new employee.

Would appreciate any advice on

- how to negotiate the equity grant? Have people seen startup offers to be based on previous valuations instead of the current valuation, assuming the fundraising is very recent? (Of course, I am not thinking about the valuation from six month ago, but there might be reasonable recent valuations before the current round)

- If I can't negotiate up the equity grant, should I hold off from joining for a couple months? My thinking is that the valuation is unlikely to go up even more in the short term, but maybe it is irrational to think that the risk for joining a startup is highest right after fundraising?