Coinbase has launched a new token sale platform, marking the return of regulated public offerings (ICOs) in crypto and potentially ushering in a new bull market cycle by 2026. This development comes as the cryptocurrency market transitions to integrate with traditional finance, creating renewed interest in capital formation. Bitwise CIO Matt Hougan emphasizes that this is a significant shift from the unregulated ICO era of 2017-2018, which ultimately failed due to lack of discipline and legal frameworks. This time around, blockchain technology’s ability to streamline capital transfers for projects at lower costs and faster speeds will play a crucial role. Coinbase’s new platform adheres to strict regulations like transparency and insider sale prohibitions, signaling a responsible approach to this emerging market.