Coinbase Global has finalized a $375 million deal to acquire Echo, an on-chain private investment platform designed to help crypto projects raise capital directly through tokenized offerings.
The acquisition, confirmed by The Wall Street Journal and Echo founder Jordan Fish (known online as “Cobie”), marks Coinbase’s eighth acquisition of 2025 and a major step in its effort to dominate blockchain-based fundraising and tokenization.
Echo, launched in 2024, has already facilitated over $200 million in community-driven token sales across more than 300 projects. Its flagship fundraising tool, Sonar, allows investors to participate transparently in early-stage crypto ventures via smart contracts.
Following the acquisition, Echo will retain its brand and operate independently for now, while its technology will be gradually integrated into Coinbase’s infrastructure, spanning listings, custody, staking, and trading services.
A Coinbase spokesperson said the acquisition is part of the company’s broader vision to “create more accessible, efficient, and transparent digital capital markets.” Analysts view this as a continuation of Coinbase’s aggressive expansion strategy following its earlier purchases of Deribit, LiquiFi, and NFT rights to the UpOnly podcast.
Industry observers note that the timing aligns with a more favorable U.S. regulatory climate under President Trump’s administration, which has opened the door for renewed crypto innovation. By absorbing Echo, Coinbase positions itself at the intersection of decentralized fundraising and institutional capital, potentially reshaping how blockchain projects attract early-stage investment and how retail investors access them.