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If the company eventually unicorns, you will regret having been a part of it but not benefiting financially at all. Even a single share could be a consolation and may actually end up valuable.
If you max out all your options, assuming that's more than your 'play money' budget, you may much sooner regret the decision if the company tanks in a month or two which seems like a definite possibility.
1: Would you be willing to invest $13K into the company right now with your own money in exchange for 2.3%?
2: What are the most extreme odds you are willing to take for
[ X % -> $50K+ , Y % -> $13K , Z % -> $0 | X+Y+Z = 100%]
Then figure out what others are saying the chances of X and Y are.
P.S. My (generous) uninformed bet would be X=1-5% and Y=30%
> - struggling to raise money
> - tons of true potential
Run.
I’d stay in touch with the founders.
This can't be a serious post
> - blockchain startup > - struggling to raise money > - tons of true potential Run.
From promising startup to out of money in 2.5 months? As an executive, did you not have insight into these things?