Coinbase Acquires On-Chain Capital Platform Echo for $375 M

Coinbase’s Strategic Acquisition of Echo

Coinbase has completed its acquisition of Echo, an innovative on-chain capital formation platform, for about $375 million in a mix of cash and stock. This acquisition underscores Coinbase’s commitment to revolutionizing crypto fundraising by offering tools that simplify how startups raise capital and connect with their communities directly on the blockchain.

Echo, launched less than two years ago by crypto trader Jordan Fish, also known as Cobie, has quickly gained traction in the crypto space. The platform has facilitated over 300 deals and helped projects raise more than $200 million. Its product Sonar allows startups to conduct fully transparent, self-hosted public token sales.

Building a Full-Stack Fundraising Solution

By acquiring Echo, Coinbase aims to provide a “full-stack” fundraising ecosystem. This means startups will find it easier to raise capital, leveraging tools that integrate fundraising with community engagement. Investors gain access to early-stage projects and public sale opportunities that were historically challenging to reach outside private networks.

While Echo will continue operating as an independent brand initially, Coinbase plans to integrate Sonar’s functionalities into its broader ecosystem over time. This integration will eventually support tokenized securities and real-world asset fundraising, expanding the scope of assets available on Coinbase.

Industry analysts view this acquisition as a critical step forward for Coinbase and the broader crypto economy. The deal aligns with Coinbase’s vision of becoming a comprehensive platform offering everything from asset trading to capital formation and token lifecycle management.

This purchase is Coinbase’s eighth acquisition in 2025, following notable deals such as the $2.9 billion acquisition of Deribit, a crypto derivatives exchange, and the purchase of LiquiFi, a token management platform.

Also read: our detailed analysis on the security of Bitcoin and whether it can ever be hacked, exploring the cryptographic safeguards and practical risks involved.

After the announcement, Coinbase’s stock price rose by over 2%, signaling investor optimism about the company’s expanding capabilities and strategic direction.

Expanding Access to Capital

Coinbase plans to leverage Echo’s technology to broaden fundraising options, including tokenized securities and assets beyond traditional cryptocurrencies. This expansion aims to make capital markets more transparent, efficient, and accessible worldwide, fostering innovation while maintaining regulatory compliance.