Coinbase Rumors Debunked: OpenSea Denies $150M ICO Ahead of SEA Token Launch

As the cryptocurrency community buzzes with anticipation for OpenSea's upcoming SEA token launch in Q1 2026, rumors of a $150 million initial coin offering (ICO) surfaced, only to be swiftly debunked by the company's Chief Marketing Officer, Adam Hollander. Hollander took to social media platform X to label a circulating Coinbase screenshot as 'fake,' urging users to rely solely on official channels for accurate information. Despite the false claims, OpenSea remains on track with its plans for the SEA token, which is set to offer utility in governance and other functionalities. The incident highlights the importance of verifying news in the fast-paced world of digital assets, especially with major launches on the horizon.

OpenSea Denies $150M ICO Rumor as SEA Token Launch Looms

OpenSea's Chief Marketing Officer Adam Hollander took to X to debunk rumors of a $150 million initial coin offering, calling a circulating Coinbase screenshot 'fake.' The unsubstantiated claim gained enough traction to warrant multiple public rebuttals from Hollander, who urged users to rely only on official channels.

The marketplace's native SEA token remains on track for Q1 2026 launch, with planned utility spanning governance, staking, and rewards. 'When building the future of digital ownership, trust is our most valuable asset,' Hollander noted, emphasizing OpenSea's commitment to transparency amid crypto's rumor-driven news cycles.

Coinbase-Backed Crypto UBI Pilot Distributes $12,000 in USDC to 160 New Yorkers

Coinbase has quietly launched a cryptocurrency-based basic income experiment, channeling $12,000 per participant through USDC stablecoin transfers. The exchange donated funds to a nonprofit after shuttering its internal philanthropy arm in 2022, creating an unusual case study in digital asset distribution.

The five-month program delivers $800 monthly installments plus an $8,000 lump sum payment, leveraging Ethereum-based USDC wallets instead of traditional banking rails. This mirrors existing guaranteed income initiatives but introduces crypto infrastructure as the settlement layer—a first for such social programs at scale.

Unlike universal basic income models, the pilot targets specific income brackets NEAR poverty level. The choice of USDC provides price stability while testing cryptocurrency's utility for recurring payments. Results could influence how municipalities and nonprofits approach digital asset integration in social programs.