Coinbase (COIN) acquired Echo, a startup focused on on-chain capital formation, for approximately $375 million.
Founded by a long-time crypto figure known by his pseudonym Cobie, Echo has helped projects raise more than $200 million in approximately 300 deals since its launch.
The platform allows startups to raise funds directly from their communities, either privately or through self-hosted public token sales using a product called Sonar.
In a statement announcing the acquisition, Coinbase said the deal would help it build a “complete” solution for crypto fundraising. For startups, that means easier access to capital and tools that align fundraising with their user base. For investors, it opens the door to early-stage opportunities that were often hidden behind private networks.
“Echo will remain an independent platform under its current brand for now, but we will integrate Sonar’s public sale product into Coinbase and will likely introduce new ways for founders to access investors and for investors to access opportunities on Coinbase itself,” Cobie said on X.
Coinbase plans to expand Echo’s infrastructure beyond cryptocurrencies and eventually support tokenized securities and real-world assets, the company said.
The acquisition complements Coinbase’s earlier purchase of token management platform LiquiFi. The trade move also comes after he spent $25 million reviving Cobie’s UpOnly podcast.
