Coinbase to acquire Echo for about $375 million to expand fundraising

Coinbase said Tuesday it has agreed to buy Echo, a platform that helps crypto startups raise capital directly from their communities, in a transaction valued at about $375 million. The deal, which will be paid in a mix of cash and stock subject to customary adjustments, brings Echo's onchain fundraising tools into the U.S. exchange's product suite while leaving the startup operating under its current brand for the time being.

Echo, founded by crypto trader Jordan Fish, better known by his pseudonym Cobie, has facilitated more than $200 million in funding across roughly 300 deals since its launch, according to company statements. The platform enables projects to raise funds through private rounds or self-hosted public token sales using a product called Sonar. Coinbase said the acquisition will let it offer a more complete fundraising stack to startups and new access to early-stage opportunities for investors.

Coinbase described the move as part of a broader effort to "create more accessible, efficient, and transparent capital markets" in a blog post announcing the transaction. The exchange said it will integrate Sonar's public sale functionality into Coinbase and explore...