Coinbase Launches Monad Token Sale Today as Bitcoin Crashes and Texas Switch Redefines Its Future (Nov. 17, 2025)
Coinbase launched its new regulated token-sale platform Monday with the public sale of Monad (MON), its first U.S. public token sale since 2018. Up to 7.5 billion MON tokens are available through November 22 at $0.025 each, implying a $2.5 billion valuation. The sale uses an allocation system favoring smaller buyers. Coinbase is also pursuing reincorporation in Texas amid regulatory challenges in Europe.