# MegaETH ICO Raises $50M, Sells Out Within Minutes

*Author: Jack Inabinet*
*Published: Oct 27, 2025*
*Source: https://www.bankless.com/read/news/megaeth-ico-raises-50m-sells-out-within-minutes*

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Upcoming high-performance Ethereum L2 MegaETH raised $50M in a matter of minutes this morning at the maximum $999M valuation, with demand for MEGA tokens exceeded available supply by three times.

### **What’s the Scoop?**
- **Blowout Sale:** MegaETH has successfully offloaded 5% of its total MEGA supply to retail investors at a ~$1B valuation. The offering, which accepted only Tether’s USDT on Ethereum mainnet, was 3x oversubscribed, with total demand reaching an implied $3 billion FDV at peak.
- **Participation Criteria:** Only verified accredited U.S. investors and verified non-U.S. participants were eligible. Buyers who locked their MEGA for one year received a 10% token discount, and all U.S. investors were required to lock their tokens.
- **Distribution Timeline: **MEGA allocations will be determined by November 5, at which time refunds will commence for un-allocated users. Allocated users can withdraw their entire bid up until November 19, and the token sale will be considered "settled" on November 21.
- **Community Sales:** MegaETH’s ICO follows a series of community-driven fundraising efforts, including a $10M Echo raise last December and its $13M "The Fluffle" NFT sale. All together, MegaETH has now raised ~$75M from retail investors through these various offering formats. 
- **Recent Repurchase:** Earlier this month, MegaETH repurchased 4.75% of company equity and token warrants from early pre-seed (non-retail) investors.

> 100,000+ users KYC'd. Over 70,000 Twitter users.[$MEGA](https://twitter.com/search?q=%24MEGA&src=ctag&ref_src=twsrc%5Etfw) Public Sale kicks off tomorrow at 1pm UTC/ 9a EST.More dates and details to stay informed [thread] [pic.twitter.com/pGSKoltpm4](https://t.co/pGSKoltpm4)— MegaETH (@megaeth_labs) [October 26, 2025](https://twitter.com/megaeth_labs/status/1982502453515071847?ref_src=twsrc%5Etfw)