Coinbase Acquires Onchain Fundraising Platform Echo for $375 Million

• Coinbase has acquired Echo for approximately $375 million in cash and stock, aiming to enhance onchain capital formation.
• The deal includes integrating Echo’s Sonar tool for public token sales on blockchains like Base, Solana, and others.
• This follows Coinbase’s recent $25 million USDC transfer to revive the UpOnly podcast, signaling deeper engagement in crypto community and media.

Coinbase has expanded its footprint in the cryptocurrency ecosystem by acquiring Echo, an onchain investment platform, for roughly $375 million.

The platform, founded by prominent crypto trader Jordan Fish, known as Cobie, specializes in facilitating crowdfunding for early-stage projects using blockchain technology.

Echo has raised at least $51 million across 131 deals since its beta launch in April 2024, including support for projects like Ethena, the protocol behind the USDe stablecoin.

Cobie announced the acquisition in an X post, expressing his initial skepticism about the outcome.

“I certainly didn’t think Echo would be sold to Coinbase, but here we are: Today Coinbase bought Echo for about $375 million,” he stated.

Coinbase CEO Brian Armstrong confirmed the deal, emphasizing the role of onchain capital formation in providing new token access opportunities for users.

Echo’s Sonar tool enables self-hosted public token sales on various blockchains, including Ethereum (ETH) and Solana (SOL).

This acquisition aligns with Coinbase’s strategy to integrate more decentralized finance (DeFi) features, potentially allowing founders and investors better access through its platform.

While the move could accelerate adoption of tokenized assets, experts note potential risks, including increased regulatory oversight on token sales and KYC compliance challenges, as quoted in industry analyses.

The deal comes shortly after Coinbase’s $25 million USDC expenditure to acquire an NFT and revive the UpOnly podcast, highlighting its commitment to crypto content and community building.

Echo will operate as a standalone brand initially, with plans for deeper integration into Coinbase’s ecosystem.

This transaction marks Coinbase’s eighth acquisition this year, underscoring its aggressive expansion amid a recovering crypto market.

Disclaimer: This article is for informational purposes only and does not constitute advice of any kind. Readers should conduct their own research before making any decisions.