Coinbase has signed its eighth major deal this year, acquiring Echo, a platform operating in the on-chain investment space, for $375 million. According to the Wall Street Journal, the deal was financed through both cash and stock.
Coinbase Acquires Echo
Echo founder Jordan Fish, known in the crypto community by his nickname "Cobie," confirmed the deal on the X platform. "Frankly, I never thought Echo would be acquired by Coinbase, but here we are. Today, Coinbase has acquired Echo for approximately $375 million," he said. Fish also stated that Echo will continue to operate independently under its existing branding for now, but the platform's public token sale product, Sonar, will be integrated into Coinbase.
Since its inception, Echo has offered an innovative platform that allows projects to raise funds directly from their communities. The company's Sonar product allows startups to raise capital through either private or public token sales. To date, the platform has raised over $200 million in funding across approximately 300 deals. In this respect, Echo is an on-chain capital formation hub that offers new opportunities to both early-stage crypto startups and investors.
Coinbase stated in a statement that the Echo acquisition brings the company one step closer to a "fully integrated crypto funding solution." The company's goal is to provide both startups with easier access to capital and to facilitate investor participation in early-stage projects. Coinbase executives emphasized that this infrastructure will not be limited to crypto projects in the long term; it will also include security tokens and real-world assets.
This deal marks Coinbase's largest acquisition of 2025. The company previously acquired the token management platform LiquiFi and the rights to the crypto-focused content project UpOnly for approximately $25 million.
Coinbase shares closed at $343.78, a 2.31 percent increase on the day the deal was announced, bringing the company's market capitalization to $88.3 billion. Coinbase, which has gained 38 percent in value since the beginning of the year, can be said to be building an ecosystem that will make it easier for both institutional and individual investors to access crypto with these acquisitions.
