Coinbase has concluded the first token sale on its new end-to-end platform, which ran from November 17th to November 22nd. This event marks a significant step in reintroducing public token sales to retail traders in the United States for the first time since 2018, with a system designed to ensure broader and more decentralized distribution. The platform aims to promote transparency by requiring key disclosures from token issuers and implementing a six-month restriction on secondary market sales by those issuers to prevent immediate sell-offs. The system prioritizes smaller purchase requests to limit token concentration among large buyers. While there is no fee for users, Coinbase charges the issuer a percentage of the funds raised.