Coinbase-Hosted Monad Token Sale Raises $140M Amid Market Caution

Monad's public token sale hosted on Coinbase has secured $140 million with three days remaining, falling short of its $187 million target as investor enthusiasm appears tempered compared to previous Layer 1 blockchain launches. The offering prices MON tokens at $0.025 each, establishing a $2.5 billion valuation for the network ahead of its scheduled November 24 mainnet deployment. This fundraising performance occurs against a challenging market backdrop, with Bitcoin experiencing a 16% decline from its recent $110,000 peak during MegaETH's oversubscribed period. The current market conditions reflect broader caution among cryptocurrency investors, potentially influenced by macroeconomic factors and recent market volatility. Despite the shortfall, the substantial capital raised demonstrates continued institutional interest in new blockchain infrastructure projects, particularly those with established exchange partnerships like Coinbase. The Layer 1 sector remains competitive, with Monad positioning itself as a scalable Ethereum-compatible blockchain solution. The final fundraising results and subsequent market performance will provide valuable insights into investor sentiment toward new blockchain infrastructure amid evolving market dynamics. As the November 29 timeline indicates, this development represents a significant moment in the ongoing evolution of cryptocurrency fundraising mechanisms and market maturation.

Monad's $140M Token Sale Underperforms Amid Cautious Crypto Market

Monad's public token sale has raised $140 million of its $187 million target with three days remaining, signaling tempered investor enthusiasm compared to recent LAYER 1 launches. The Coinbase-hosted offering prices MON tokens at $0.025, valuing the network at $2.5 billion ahead of its November 24 mainnet debut.

Market conditions show strain: Bitcoin has retreated 16% from its $110,000 level during MegaETH's oversubscribed $1.4 billion ICO last month. MON's pre-market valuation on Hyperliquid reflects the shift, declining 36% to $3.8 billion—still offering potential 50% gains for ICO participants at current prices.

The sale's structure includes retail-friendly $100-$100,000 contribution limits, with geographic restrictions excluding most European jurisdictions and New York. This cautious approach contrasts with the feverish demand seen in prior blockchain launches, suggesting investors are becoming more selective amid volatile market conditions.

Coinbase App Code Reveals Testing of Prediction Markets, Tokenized Stocks

Coinbase appears to be advancing its "everything exchange" strategy with hidden features for prediction markets and tokenized stock trading. Reverse-engineered code from the mobile app reveals tabs labeled "Stocks" and "Predictions," alongside regulatory disclosures pointing to a potential partnership with KalshiEX LLC, the sole federally licensed prediction market operator in the U.S.

The discovery aligns with Coinbase's July roadmap, though the company remains coy. A spokesperson deferred to a December 17 livestream promising product announcements and business updates. Market observers speculate this could mark Coinbase's foray into regulated derivatives and real-world asset tokenization—a sector gaining traction across crypto exchanges.

Coinbase Developing Prediction Markets Platform, Early Look Reveals Kalshi Link

Coinbase is quietly building a prediction-market platform, with leaked images suggesting integration with Kalshi. The MOVE comes as crypto-based forecasting services like Polymarket experience surging demand.

Tech researcher Jane Manchun Wong uncovered interface prototypes tied to Coinbase Financial Markets. The development aligns with CEO Brian Armstrong's vision for an "everything app" consolidating diverse assets on-chain.

Prediction markets represent a strategic expansion beyond Coinbase's Core exchange business. The Kalshi connection hints at regulatory compliance ambitions, given Kalshi's CFTC-registered status for event contracts.

BlackRock Advances Staked Ethereum ETF Plans Amid Regulatory Hurdles

BlackRock has taken a decisive step toward launching the first staked ethereum ETF in the U.S., registering the iShares Staked Ethereum Trust in Delaware on November 19. While this move doesn't constitute a formal SEC filing, it strategically positions the asset manager to capitalize on yield-bearing ETH products once regulatory approval is granted.

The initiative follows a separate Nasdaq proposal earlier this year that would enable BlackRock's existing iShares Ethereum Trust ETF to stake ETH through Coinbase Custody. The firm is now pursuing dual pathways: retrofitting its live spot ETH ETF with staking capabilities while simultaneously developing a dedicated staked Ethereum trust from the ground up.

Current U.S. spot Ethereum ETFs, launched in 2024 without staking due to SEC restrictions, offer no exposure to Ethereum's ~3% annualized staking rewards. This yield gap has become increasingly conspicuous as 30% of ETH's circulating supply now participates in on-chain staking. BlackRock's proposed solution could rewrite the rules of institutional crypto exposure.

Crypto IPO Timing Mirrors Bitcoin Market Peaks

Bitcoin's bull market cycles show an uncanny correlation with crypto-related IPOs, serving as potential top signals. Coinbase's April 2021 direct listing coincided with BTC's then-record $64,000 high, while Stronghold Digital Mining's October 2021 IPO preceded November's $68,789 peak by three weeks.

The pattern repeated in 2025: Bullish's August debut and Figure's September IPO landed within weeks of Bitcoin's October all-time high NEAR $126,198. Grayscale's November filing added another data point, arriving just over a month post-peak.

Market observers note these public offerings typically cluster when trading volumes, fees, and media HYPE peak—creating a measurable rhythm for late-cycle analysis. While not a perfect clock, the IPO sequence provides institutional investors with clear markers of market exuberance.

65+ Crypto Groups Urge Trump to Drop Charges Against Tornado Cash Developer Roman Storm

A coalition of 66 cryptocurrency organizations, including industry heavyweights like Coinbase, Block, and the solana Foundation, has demanded the dismissal of charges against Roman Storm, co-founder of privacy tool Tornado Cash. The groups sent a formal letter on November 20, 2025, framing the prosecution as an attack on software development and calling for immediate regulatory clarity.

Storm was convicted on August 6, 2025, for operating an unlicensed money transmitter but avoided conviction on more serious money laundering and sanctions charges. The case centers on whether developers bear responsibility for how their code is used—prosecutors allege Tornado Cash processed over $1 billion for criminals including North Korean hackers, while defenders argue Storm merely created neutral technology.

With sentencing scheduled for December 18, 2025, the crypto industry has mounted one of its largest coordinated responses since the TRUMP administration took office. The outcome could set critical precedents for developer liability and the future of privacy-focused protocols in the Ethereum ecosystem.