Coinbase Launches Regulated ICO Platform
Coinbase will launch a regulated initial coin offering (ICO) platform on November 10. The platform will list fully vetted crypto projects under strict rules. It will start with Monad (MON), whose token sale will run November 17–22. Monad’s mainnet launch is scheduled for November 24.
Bitwise Predicts New Era for Crypto Capital Formation
Matt Hougan, CIO of Bitwise Asset Management, says compliant ICOs could spark the next crypto bull run. In a client note, he called Coinbase’s platform a milestone marking a new, regulated era for ICOs.
Hougan described capital formation as the fourth pillar of crypto disruption, alongside bitcoin, stablecoins, and tokenization. He wrote, “These are each multitrillion-dollar opportunities, and enough to power a bull market in crypto for a generation.”
Compliant ICOs Could Rival IPOs in 2026
Unlike the 2017–2018 ICO boom, today’s compliant ICOs follow stronger regulations and structured frameworks. Hougan pointed to SEC Chair Paul Atkins’s calls for safe harbors and praised Coinbase’s approach with strict disclosure and lock-up rules.
Hougan expects the compliant ICO model could raise billions in 2026, potentially matching parts of the IPO market. In comparison, 176 U.S. IPOs raised $33 billion in 2024.
The model may benefit entrepreneurs with lower capital costs and more retail investor access. Coinbase is seen as a major beneficiary, combining roles like Charles Schwab, Goldman Sachs, and the NYSE. Large blockchains such as Ethereum and Solana may also gain from hosting new projects.
However, Hougan cautioned on crypto investing risks. Price volatility, regulatory gaps, and past ICO problems remain challenges. The growth of regulated token offerings marks a shift but does not guarantee a sustained bull market.
