Coinbase Acquires Echo for $375 Million
Coinbase, a leading crypto exchange, has acquired Echo, a crowdfunding platform, for $375 million. Echo helps communities raise funds for early-stage startups and crypto projects. The platform was founded by Jordan Fish, known as Cobie in the crypto world.
A day before the acquisition, Coinbase sent $25 million in USDC to Cobie’s wallet. This was to buy and burn a digital collectible (NFT) and support the relaunch of his UpOnly podcast.
On X (formerly Twitter), Cobie said, “I certainly didn’t think Echo would be sold to Coinbase, but here we are: Today Coinbase bought Echo for about $375 million.”
Echo’s Growth and Key Features
Echo launched in April 2024 and quickly became a hub for community investing. In eight months, it helped raise over $51 million across 131 deals. One of its first and largest projects was Ethena, a crypto protocol behind the stablecoin USDe. Ethena was the first project to raise funds through Echo.
In May 2025, Echo introduced Sonar, a software tool that allows startup founders to hold public token sales. These sales can occur on blockchains such as Base, Solana, Cardano, and Hyperliquid.
Future Plans and Industry Impact
After the acquisition, Cobie said Echo will remain a standalone platform for now. Coinbase plans to integrate Sonar into its services. This integration aims to connect founders and investors directly on Coinbase.
Coinbase stated, “Integrating Echo’s tools will help us enable more direct community participation, joining projects with capital, entirely onchain.” The company will start with token sales via Sonar and plans to expand to tokenized securities and real-world assets using Echo’s technology.
Analysts view this move as part of a revival of ICO-style fundraising. A Tiger Research report notes that public token sales are returning in new forms. Launchpads like Sonar, Legion, and Kaito are leading this trend with improved tools and transparency compared to the 2017 ICO boom.
