Coinbase’s Strategic Return to Token Sales

Coinbase’s strategic return to token sales

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Coinbase ICO Mechanics

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Monad: EVM Layer 1

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$MON Tokenomics

Source: https://www.monad.xyz/announcements/mon-tokenomics-overview — $MON tokenomics

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Monad Pre-Market Activity

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Investor Opportunities and Risks

Conclusion

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Monad’s MON token is launching through Coinbase’s revamped ICO platform, offering retail access at $0.025 before mainnet. Here’s a fast breakdown of the mechanics, tokenomics, pricing, and risks.

Dragonfly Capital

Paradigm

Monad Token Sale on Coinbase

Deal Overview

Strategic Investors & Rationale

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Market Context: Hyperliquid’s Momentum

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Leadership & Governance

Sonnet’s Biotech Legacy & CVR Upside

Pre‑Market Reaction & SPAC Trend

What’s Next?

Hyperliquid

Abstract machine converting molecules into a crypto coin worth $888M

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Sonnet BioTherapeutics pivots from biotech to crypto, merging into Hyperliquid Strategies—a Nasdaq‑listed SPAC treasury play holding 12.6 M HYPE (≈ $583 M at signing) plus $305 M cash, backed by Paradigm, Galaxy, Pantera, and more.

Pantera Capital

Galaxy

From Biotech to HYPE: Sonnet SPAC Forms Hyperliquid Strategies Inc.

United States of America

Paradigm is a cryptocurrency-focused investment firm and venture capital company. It was founded by Matt Huang and Fred Ehrsam, both of whom have significant experience in the cryptocurrency and blockchain industry. Paradigm is headquartered in San Francisco, California, and is considered a prominent player in the digital asset and blockchain investment space.

Figment Capital launched its first fund in 2021 to invest in high-conviction, early-stage blockchain infrastructure projects. As an early-stage investor, they work closely with founders as they scale from idea to adoption and beyond.

Figment Capital

GSR, founded in 2013, is a global leader in digital asset trading and market making.
GSR is a crypto market maker and ecosystem partner

GSR Markets (GSR)

Anagram Crypto

JPEG Trading

Yu Hu

Jordi Hays

Kaito

Noise

Crown

Framework Ventures is a cutting-edge venture capital firm deeply immersed in the world of decentralized finance (DeFi) and blockchain technology. Founded by Michael Anderson and Vance Spencer, Framework Ventures stands out as a key player in the rapidly evolving landscape of digital assets and blockchain-based financial innovations.

Framework Ventures

Coinbase Ventures is the venture capital arm of Coinbase, one of the largest and most well-known cryptocurrency exchanges in the world. Coinbase Ventures is focused on investing in early-stage companies and projects in the blockchain and cryptocurrency space. It provides funding, resources, and support to startups and entrepreneurs working on innovative blockchain and crypto-related technologies and applications.

Coinbase Ventures

Valor is an investment firm that focuses on cross-border financial and investment opportunities. The firm operates across two investment strategies Growth Equity and Venture Capital. It was founded in 2011 and headquartered in New York, United States.

Valor Capital Group

Norte Ventures

Paxos

Edward Wible

Andreessen Horowitz, often referred to as "a16z," is a prominent venture capital firm based in Menlo Park, California. It was founded in 2009 by Marc Andreessen and Ben Horowitz, both of whom are well-known figures in the tech industry. Andreessen Horowitz is one of the leading venture capital firms in Silicon Valley and has gained a reputation for its investments in technology companies, particularly in the areas of software, internet, and more recently, blockchain and cryptocurrency.

Andreessen Horowitz (a16z)

Sequoia Capital is a renowned venture capital firm with a strong presence in Silicon Valley and a global reach. Founded in 1972 by Don Valentine, it has played a significant role in the growth and development of numerous technology companies.

Sequoia Capital

Anthos Capital

CapitalG is the growth capital fund financed by Alphabet that invests for profit in growth stage technology companies

CapitalG

Neo is a diverse mentorship community, startup accelerator, and VC fund.

Kalshi

Multicoin Capital is a thesis-driven investment firm that invests in cryptocurrencies, tokens, and blockchain companies reshaping trillion-dollar markets. They manage a hedge fund and several venture funds, investing across both public and private markets.

Multicoin Capital

Bond is a venture capital firm that supports visionary founders throughout their life cycle of innovation and growth.

Bond

Peng Zhao

Kevin Durant

Spark

Rift

Harmonic

General Catalyst is a venture capital firm that invests in powerful, positive change that endures.

General Catalyst

Eric Wu is the Co-Founder and Chief Executive Officer of Opendoor. Before Opendoor, Eric founded Movity.com, a location data analytics company that was acquired by Trulia.com in 2011. He graduated from the University of Arizona with a bachelor of science in Economics.

Eric Wu

Ashwin Ramachandran

Alpen Capital (Prev. Comfy Capital)

smartestmoney

Vladimir Novakovski

Liquid

Lightspeed Venture Partners is a prominent venture capital firm recognized for its strategic investments in innovative and high-growth technology companies. Founded in 2000 by Chris Schaepe, Barry Eggers, Ravi Mhatre, and Peter Nieh, Lightspeed has played a pivotal role in shaping the success stories of numerous startups across various sectors.

Lightspeed Venture Partners

Standard Economics

MetaDAO

Variant is an early-stage fund investing in web3. They believe the next generation of the internet will transform users into owners. They back mission-aligned founders at the earliest possible stage

Variant

Investing in the crypto-powered Web3 and creator economy ecosystems

6MV (6th Man Ventures)

Divine

Netherlands

Venture Capital Fund in Blockchain & Distributed Ledger Technology (DLT)

Maven 11 Capital

Volt Capital is a venture capital firm that specializes in investing in early-stage startups in the cryptocurrency and blockchain space. Volt Capital is known for its focus on supporting innovative projects and teams within the cryptocurrency and blockchain ecosystem.

Volt Capital

Neoclassic Capital

Plural

Compound is a thesis-driven, research-centric investment firm leading seed rounds.

Compound

Necessary Ventures

Electric Capital is a venture capital firm that focuses on investments in blockchain and cryptocurrency-related projects and companies. Founded by Avichal Garg and Curtis Spencer, Electric Capital is known for its active involvement in the cryptocurrency space and its support for innovative blockchain technologies.

Electric Capital

Etherealize

Canada

Vitalik Buterin, a Russian-born Canadian programmer and writer, is best known for co-founding Ethereum, one of the most influential blockchain platforms.

Vitalik Buterin

The Ethereum Foundation is a non-profit organization dedicated to supporting Ethereum and its related technologies. As part of a broad network of organizations, individuals, and companies, the EF plays a key role in advancing the Ethereum ecosystem.

Ethereum Foundation

Dragonfly Capital Partners, commonly referred to as Dragonfly Capital, is a venture capital firm that focuses on investments in the blockchain and cryptocurrency space. Dragonfly Capital is known for its active involvement in the blockchain and crypto industry and its commitment to supporting innovative projects and companies.

AUSD

Robot Ventures primarily invests in projects and companies related to decentralized finance (DeFi), blockchain technology, cryptocurrencies, and the broader Web 3.0 ecosystem. They seek to identify promising early-stage projects that are building innovative solutions in these areas.

Robot Ventures

Credibly Neutral

Alex Watts

Joe Takayama

3nes

Jordan Hagan

Auri

Will Price

Tristan Yver

Shreyas Hariharan

ZAGABOND

Kuru

United Kingdom

Brevan Howard Asset Management LLP is an investment manager authorised and regulated by the Financial Services Authority in the United

Brevan Howard

CMS Holdings may also invest in early-stage blockchain and cryptocurrency projects through private investments and strategic partnerships. They provide capital and support to innovative startups in the crypto space.

CMS Holdings

Breed VC is an early stage crypto venture fund dedicated to helping the top founders build the decentralized future

Breed

Keone Hon

Global Venture Accelerator firm for the Web 3.0 space.

Pivot

Velocity Capital

Jarry Xiao

Eugene Chen

Wintermute is a truly value adding investor dedicated to supporting the innovation in the blockchain ecosystem.

Wintermute

Flow Traders

IMC Financial Markets

Guy Young

Max Resnick

Arbitrum Gaming Ventures

Wildcard

P2 Ventures is dedicated to supporting visionary teams across the multichain ecosystem. We invest at the earliest stages across all categories in web3.

P2 Ventures

Mexico

Griffin Gaming Partners is a venture capital firm that focuses on investing across the broad gaming ecosystem.

Griffin Gaming Partners

Sabrina Hahn

Australia

Kain Warwick

Julian Koh

DeFi Dad

Joshua Lim

South Africa

Andre Cronje

Bodhi Ventures is a crypto native fund – built by founders for founders.

Bodhi Ventures

3Jane

Arena Holdings

Gate Ventures

WAGMI Ventures

Skyland Ventures is a venture capital fund that mainly invests in seed startups.

Skyland Ventures

Oak Grove Ventures is an early-stage investment firm with a primary focus on advanced technology sectors.

Oak Grove Ventures

Good News Ventures

Paramita Venture

Contribution Capital

Legends Group

Reddio

Nous Research

Delphi Digital is a dynamic research-driven firm at the intersection of blockchain technology and traditional finance. Founded by a team of seasoned professionals, the firm is committed to providing cutting-edge insights and strategic analysis in the rapidly evolving digital asset space.

Delphi Digital (Delphi Labs)

Distributed Global is an investment firm focused on the blockchain and digital asset ecosystem.


UNI Uniswap	$5.03	−6.20%	$3.19 B	$4.53 B	--	--	--	--
ATOM Cosmos Hub	$2.45	−2.40%	$1.20 B	$1.20 B	$0.0525	64.47x	$0.10	24.56x
OP Optimism	$0.3204	−6.53%	$622.69 M	$1.38 B	--	--	--	--
LDO Lido DAO	$0.5619	−7.72%	$474.75 M	$560.80 M	$0.73	0.77x	--	--
STRK StarkNet	$0.0824	−5.88%	$429.19 M	$824.40 M	--	--	--	--
AXS Axie Infinity	$1.68	−9.08%	$283.32 M	$454.68 M	$11.10	0.15x	$0.10	16.83x
COMP Compound	$25.64	−4.12%	$255.16 M	$256.10 M	--	--	--	--
MON Monad	$0.02068	−9.75%	$223.98 M	$2.07 B	--	--	$0.025	0.83x
FTT FTX Token	$0.4941	−5.36%	$162.74 M	$162.74 M	$0.4166	1.75x	--	--
SNX Synthetix	$0.443	−8.24%	$152.02 M	$152.21 M	$0.50	1.05x	$0.67	0.66x
DYDX dYdX	$0.1796	−8.61%	$147.15 M	$171.93 M	--	--	--	--
ZORA Zora	$0.03287	−5.63%	$146.93 M	$328.70 M	--	--	--	--
META MetaDAO	$6.21	1.47%	$137.15 M	$137.15 M	$7.83	0.79x	--	--
MINA Mina Protocol	$0.0851	−6.55%	$108.01 M	$108.01 M	$0.1833	0.49x	$0.25	0.34x
ME Magic Eden	$0.2522	−10.71%	$107.52 M	$252.90 M	--	--	--	--
BLUR Blur	$0.03378	−10.04%	$91.18 M	$101.43 M	--	--	--	--
SC Siacoin	$0.001592	−4.38%	$89.08 M	$98.93 M	--	--	--	--
PROVE Succinct	$0.3883	−2.99%	$75.82 M	$388.80 M	--	--	--	--
NMR Numeraire	$9.86	−5.05%	$73.82 M	$104.99 M	--	--	--	--
VANA vana	$2.22	−9.02%	$66.60 M	$266.40 M	--	--	--	--

Paradigm

About Paradigm

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Investments Portfolio