Coinbase (COIN) has acquired Echo, a startup focused on onchain capital formation, for approximately $375 million.
Founded by a longtime crypto personality known by the pseudonym Kobi, Echo has helped projects raise more than $200 million in nearly 300 deals since its launch.
The platform allows startups to raise funds directly from their communities either privately or through a self-hosted public token sale using a product called Sonar.
In a statement announcing the acquisition, Coinbase said the deal will help create a “full-stack” solution for crypto fundraising. For startups, this means easier access to capital and tools that align fundraising with their user base. For investors, this opens the door to early-stage opportunities that were often closed behind private networks.
“Echo will remain a standalone platform under its existing brand for now, but we will integrate Sonar’s public sale product into Coinbase, and potentially introduce new ways for founders to access investors and for investors to access opportunities at Coinbase,” Coby said on X.
Coinbase plans to expand Echo’s infrastructure beyond crypto, eventually supporting tokenized securities and real-world assets, the company said.
This acquisition complements Coinbase’s previous purchase of token management platform Liquify. The exchange took this step after spending $25 million to revive Kobe’s Only Podcast.