With Monad as its debut issuer, Coinbase reopens the gates to U.S. retail participation, signaling a new era for compliant token fundraising.
Coinbase launches a public token sales platform, a resurrection of an idea once buried by regulators, and a carefully orchestrated revival of the public token sale, reborn under rules, algorithms, and restraint. The irony is poetic: the same exchange that survived the ICO era’s fallout is now rewriting its sequel.
For the first time since 2018, U.S. retail investors can legally take part in global token offerings. Coinbase’s new platform, set to debut with Monad’s MON token sale on November 17, marks a return to retail inclusion under a far stricter and more transparent structure. This isn’t 2017’s reckless party of whitepapers and vaporware. It’s a measured experiment where compliance meets community, and access is earned, not airdropped.
Rebuilding the bridge between regulation and retail
When Coinbase launches a public token sales platform, it does so in a political climate far friendlier to crypto. Under the Trump administration’s pro-digital asset policy shift, Coinbase is stepping into territory the SEC once fenced off. It is an audacious play, allowing anyone, from a college trader in Chicago to a developer in Lagos, to participate in token sales once reserved for offshore funds or accredited investors.
The mechanics are telling. Coinbase’s new model rejects the “first-come, first-served” rush that favored bots and whales. Instead, it uses a “filling up from the bottom” algorithm that prioritizes smaller participants and penalizes quick flippers. Those who dump tokens within thirty days risk losing future allocations. That’s not punishment; it’s behavioral design. The platform rewards loyalty, not speculation, mirroring the shift from chaotic ICOs to curated participation.
Coinbase’s clean room for fundraising
When Coinbase launches a public token sales platform, it is also creating an ecosystem of accountability. Issuers must disclose everything: tokenomics, governance, lockups, and team structures. Tokens sold through the platform come with a six-month lockup for insiders, barring quiet offloading in secondary markets. There are no listing or buyer fees; Coinbase earns from the issuer’s side, taking a percentage of USDC raised.
It’s regulated by architecture, where transparency is not imposed by government but coded into the platform’s DNA. The acquisition of Cobie’s Echo platform for $375 million last month adds an on-chain credibility layer, but Coinbase insists the two remain separate. The message is clear: this is Coinbase’s house, and the rules are theirs.
Monad’s moment: The first test case
Monad, an Ethereum-compatible Layer-1 network, carries the honor and pressure of being the first project through the new gate. Its MON token sale will offer 7.5 billion tokens, 7.5% of the total supply, priced at $0.025 each, open to buyers worldwide, with limits between $100 and $100,000. The rest of the supply follows a carefully timed unlock schedule stretching to 2029, ensuring early contributors cannot tilt the market. Locked tokens are unstakable, directing initial staking rewards to public participants instead of insiders.
For Monad, this isn’t just about capital. It’s about credibility. Launching on Coinbase’s platform gives it regulatory safety, audience reach, and institutional legitimacy that no offshore sale could match.
The return of the public
The deeper story here is about the redemption of a model once dismissed as reckless. When Coinbase launches a public token sales platform, it is inviting the public back into crypto’s formative process. In 2017, token sales represented unbridled optimism and unregulated chaos. In 2025, they represent a cautious optimism, reborn within guardrails.
Coinbase plans to host one public sale per month. If successful, this could evolve into a template for compliant token fundraising across major exchanges, rekindling the public’s ability to fund innovation directly. It could also reframe how retail investors perceive riskless gambling and more governance.
The ICO model, once the Wild West of crypto, now has a sheriff. And that sheriff wears a Coinbase badge.
