<\/p>\n
The deal adds Echo\u2019s community-based capital raising tools to Coinbase\u2019s growing on-chain infrastructure stack.<\/p>\n
Coinbase<\/a>, the largest U.S.-based centralized crypto exchange (CEX), announced on Tuesday that it has acquired blockchain fundraising platform Echo in a deal valued at approximately $375 million in cash and stock.<\/p>\n The acquisition aims to connect crypto builders with community capital and give users access to new investment opportunities. Echo was co-founded by crypto investor Jordan \u201cCobie\u201d Fish,<\/a> who also co-founded the decentralized finance (DeFi) protocol Lido.<\/p>\n Earlier today, Coinbase also paid $25 million<\/a> for an NFT to bring back the popular UpOnly podcast, co-hosted by Cobie.<\/p>\n In a podcast<\/a> with Blockworks, Shan Aggarwal, Coinbase\u2019s chief business officer, said the acquisition gives Coinbase the components and capability to \u201crebuild the capital market stack from end to end\u201d and \u201cprovide all of those different pieces within the Coinbase product suite.\u201d <\/p>\n Aggarwal added that Cobie will also be joining Coinbase as an employee, though he did not elaborate on his role or how long he will remain with the company.<\/p>\n Since its launch, Echo has facilitated over $200 million in fundraising across roughly 300 deals, according to a company announcement<\/a>. Coinbase said it plans to integrate Echo\u2019s Sonar platform for public token sales.<\/p>\n The deal expands Coinbase\u2019s presence in token fundraising and builds on its July acquisition of Liquifi<\/a> \u2013 a platform that helps projects create tokens, manage ownership, and maintain regulatory compliance for Coinbase Prime users.<\/p>\n \u201cOnchain capital formation is a vital and unique part of the crypto ecosystem,\u201d Coinbase CEO and co-founder Brian Armstrong said in a post<\/a> on X. \u201cExcited to be adding Echo and Sonar to Coinbase to give our customers new token access opportunities.\u201d<\/p>\n Meanwhile, Cobie reflected on the sale in a separate post<\/a> on X. \u201cI certainly didn\u2019t think Echo would be sold to Coinbase, but here we are,\u201d the founder wrote. \u201cThe job\u2019s not finished. Onwards.\u201d<\/p>\n Coinbase did not immediately respond to The Defiant\u2019s request for comment.<\/p>\n The acquisition aligns with Coinbase\u2019s broader vision of becoming an \u201ceverything app.\u201d Earlier this year, the company rebranded its wallet app as Base, which now combines a web3 wallet, trading, payments, messaging, and mini apps. Coinbase said it also plans to offer tokenized real-world assets (RWAs), stocks, derivatives, and prediction markets.<\/p>\n This comes amid a broader trend of crypto and fintech platforms, including X and Robinhood, moving toward a \u201csuper app\u201d model like China\u2019s WeChat<\/a>, which combines financial services and communication tools in a single platform.<\/p>\n Coinbase went public on the NASDAQ<\/a> in 2021. This past May, it was included in the S&P 500<\/a>. The company’s stock, COIN, is currently changing hands at $342, flat on the day.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":" The deal adds Echo\u2019s community-based capital raising tools to Coinbase\u2019s growing on-chain infrastructure stack. Coinbase, the largest U.S.-based centralized crypto exchange (CEX), announced on Tuesday that it has acquired blockchain fundraising platform Echo in a deal valued at approximately $375 million in cash and stock. The acquisition aims to connect crypto builders with community capital […]<\/p>\n","protected":false},"author":2,"featured_media":408839,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[274,273,272,244,266,271,268,270,269,267],"class_list":["post-408838","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-de-fi","tag-crypto-finance","tag-decentralized-finance","tag-liquidity","tag-metamask","tag-pancake","tag-slippage","tag-sushiswap","tag-tronlink","tag-trust-wallet","tag-uniswap"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/408838","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=408838"}],"version-history":[{"count":1,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/408838\/revisions"}],"predecessor-version":[{"id":408840,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/408838\/revisions\/408840"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/408839"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=408838"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=408838"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=408838"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}