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

Leading U.S. cryptocurrency exchange, Coinbase, has acquired Echo, a platform that allows crypto companies to raise funds directly on the blockchain, for about $375 million in cash and stock. Pending regulatory approval, the deal is expected to close by the end of the year.

The Wall Street Journal reported that the deal, which marks Coinbase’s eighth acquisition in 2025, shows its commitment to growing in the crypto industry. 

Coinbase Expands Services With Echo Acquisition

Coinbase bought Echo for $375 million, using both cash and stock. The purchase is part of the exchange’s plan to expand its blockchain financial services. The acquisition supports Coinbase’s goal of using advanced blockchain tools to meet the increasing demand for decentralized finance solutions. 

The move aims to enhance the company’s services in tokenized private markets as decentralized finance tools become more popular. Echo’s platform, founded by crypto veteran Cobie, enables crypto companies to secure funding directly on the blockchain, bypassing traditional venture capital. 

It has previously collaborated with Coinbase Ventures to fund projects on Coinbase’s Base blockchain, providing a modern alternative for shared investment in web3 startups. By acquiring Echo, Coinbase aims to improve its services for tokenized private markets and solidify its position in the crypto industry.

Coinbase’s Strategic Acquisitions

Coinbase is focusing on strategic acquisitions to enhance its services, including high-volume trading and user-friendly DeFi solutions. A key move was in May when it purchased Deribit, a Dubai-based crypto derivatives exchange, for $2.9 billion, making it a leader in global crypto options with significant trading volumes.

The exchange also acquired Spindl for targeted Web3 advertising, along with talent from Iron Fish to enhance transaction security, and the Roam team to improve its search capabilities. Additional acquisitions in July included Liquifi, a token management platform, and Opyn, a DeFi options protocol, further diversifying Coinbase’s offerings.

By August, Coinbase had made five acquisitions, focusing on mining hardware and custody services. In September, it acquired Sensible, a consumer DeFi platform that will contribute to future on-chain strategies. The acquisition of Echo has so far capped the exchange’s purchases this year.

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