Coinbase (COIN) has acquired Echo, a startup focused on onchain capital formation, for approximately $375 million.
Founded by a longtime crypto figure known by his Cobie pseudonym, Echo has helped projects raise over $200 million across roughly 300 deals since 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 “full-stack” 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 closed behind private networks.
“Echo will remain a standalone platform under its current brand for now, but we will integrate sonar’s public sale product into Coinbase and likely introduce new ways for founders to access investors and for investors to access opportunities within coinbase itself,” Cobie said at X.
Coinbase plans to expand Echo’s infrastructure beyond crypto and eventually support tokenized securities and real-world assets, the company said.
The acquisition complements Coinbase’s previous acquisition of token management platform LiquiFi. The stock’s move also comes after it spent $25 million to revive Cobie’s UpOnly podcast.
