Coinbase Buys Echo Platform in $375m Deal

Coinbase has announced that it is acquiring Echo, an investment platform that is built on blockchain, at approximately $375M. This marks Coinbase’s eighth acquisition of 2025 and twelfth overall. The deal highlights the exchange giant’s commitment to democratizing access to early-stage crypto investing while enhancing its Base ecosystem.

Partnership to Full Ownership

Coinbase Ventures was awarded the position of Group Lead on the platform in March 2025. The collaboration focused on extending funding opportunities for projects based on Base, Coinbase’s Layer-2 network. Coinbase Ventures invested in over 40 projects, including Aerodrome, Morpho, and Blackbird.

Echo was launched in March 2024 by crypto thought leader Jordan Fish (known as “Cobie”) with the goal of democratizing early-stage blockchain financing. The platform allows accredited and qualified investors to construct web3 projects through transparent, on-chain transactions. This approach contrasts with traditional venture capital, where only wealthy investors obtain access to promising startups.

The acquisition provides Coinbase with complete control over a platform that has facilitated fundraising for over 30 crypto projects, such as Ethena, Morph, Usual, and MegaETH. MegaETH completed two separates $10M raises through Echo in December 2024, with a round closing in just 56 seconds.

Breaking Down Traditional Barriers in Crypto Funding

The traditional venture capital approach in cryptocurrency has been chastised for providing exclusive access to privileged insiders who obtain early token allocations at significant discounts. These insiders often distribute their tokens to high-priced retail investors. Echo’s community-driven model reaffirms this trend since smart contracts are used to effectively manage funds.

Shan Aggarwal, the Vice President of Corporate and Business Development for Coinbase, stated that on-chain investing is possible to engage accredited and qualified investors in a manner that it was previously not capable of doing. Jesse Pollak, the Head of Base and Coinbase Wallet, stated that it allows more dynamic capital base to founders.

Through Web3, these collaborative efforts have been implemented in a similar way. The Coinbase-Echo merger is an example of strategic alliances that can increase the value of the customers and the developers.

Empowering the Base Ecosystem and Industry Impact

The purchase follows the Base network of Coinbase becoming the most successful Layer-2 solution of Ethereum in a range of significant aspects. With Echo’s integration, Coinbase will have the opportunity to distribute funds to Base builders, as well as provide community members with direct investment opportunities in network-shaping projects.

The $375M price is based on Echo’s history of success and strategic significance of Coinbase in utilizing on-chain capital formation infrastructure. Echo has raised more than $100M within a year, which shows strong product-market presence and willingness to have advantageous opportunities to invest in cryptocurrencies.

This transaction is at forefront of transparent blockchain-based fundraising, which overcomes information asymmetry and improves traditional venture financing. The deal also highlights how Coinbase plans to pursue an active M&A strategy in 2025, which indicates that it is the eighth deal of the year and shows that the company is optimistic about the future of crypto.

Conclusion

The acquisition of Echo by Coinbase of $375M signifies the breakthrough in fundraising of cryptocurrencies. The deal will merge Coinbase regulatory expertise and Base ecosystem with Echo’s democratized investing platform to create infrastructure that will transform early-stage crypto finance. The Base network is expanding, and it is focusing on transparent capital deployment techniques that are becoming essential for the long-term growth of the industry.