Coinbase has announced the acquisition of Echo, an on-chain investment platform, for approximately $375 million. The deal is aimed at building a comprehensive infrastructure for on-chain capital markets, enabling projects to raise funds directly from their communities while providing investors access to early-stage opportunities that were previously limited.
According to Coinbase, Echo was founded by notable crypto entrepreneur Cobie and has quickly become a leading platform for decentralized fundraising. The platform supports both private fundraising rounds and public token sales, with the latter facilitated through Echo’s tool Sonar. Since its launch, Echo has helped projects raise over $200 million across more than 300 deals. Sonar has gained particular traction in self-managed public token sales, such as the XPL token launch by the Plasma project.
“Echo was designed to make capital raising inclusive, transparent, and efficient. This acquisition represents a key step toward democratizing early-stage investment,” Coinbase stated.
The acquisition will integrate Echo’s tools into Coinbase’s ecosystem, initially focusing on token sales, with plans to expand into tokenized securities and real-world assets (RWA) over time. This move complements Coinbase’s recent acquisition of Liquifi, a platform that assists startups with token creation and capital management. While Liquifi supports projects at the launch stage, Echo enhances capabilities for capital raising.
Coinbase emphasizes that combining Liquifi and Echo will enable support for projects across all stages—from token issuance to public offerings and secondary markets—creating a seamless path for startups and new investment opportunities for the community.
The integration of Echo is expected to deliver:
- Simplified access to capital for founders with flexible fundraising options.
- Early-stage investment opportunities for investors through verified platforms or self-managed Sonar token sales.
- A transparent, global, and efficient market ecosystem, promoting innovation and growth.
This acquisition marks another milestone in Coinbase’s strategy to eliminate barriers between projects and capital, fostering a new era of decentralized finance.
For reference, in August 2025, Coinbase also acquired the global crypto options trading platform Deribit for $2.9 billion.
