The acquisition — Coinbase’s eighth this year — brings Echo’s token sale platform Sonar into its expanding onchain ecosystem.
Coinbase Expands Its Onchain Reach with Echo Buyout
Coinbase Global is set to acquire Echo, a fast-growing onchain private investment platform, for $375 million, according to a Wall Street Journal report published Tuesday. The acquisition will be financed through a combination of cash and Coinbase stock, with full details expected later today.
Echo’s founder Jordan Fish, widely known in the crypto community by his pseudonym Cobie, confirmed the deal on X (formerly Twitter), writing:
“I certainly didn’t think Echo would be sold to Coinbase, but here we are: today Coinbase bought Echo for ~$375m.”
when i started building echo 2 years ago, i knew it had 95% chance of failing. to be honest, i couldnt really imagine any other outcome, but i thought at least it may be a noble failure worth attempting.
i certainly didn't think echo would be sold to coinbase, but, here we are:…
The acquisition marks a major step in Coinbase’s strategy to expand deeper into the onchain investment and token distribution ecosystem, leveraging Echo’s infrastructure for private and public token sales.
Integration Plans and Product Expansion
While Echo will continue to operate independently under its current brand, Coinbase plans to integrate its public token sale platform, Sonar, into the exchange’s suite of onchain services. This move will allow users to participate directly in verified token sales via Coinbase’s ecosystem — a potential game-changer for compliant onchain fundraising.
Echo has built a reputation for bridging private investment rounds and tokenized fundraising, connecting Web3 startups with both institutional and retail investors through blockchain-based tools.
Coinbase’s Aggressive M&A Strategy
This deal marks Coinbase’s eighth acquisition in 2025, underscoring the company’s rapid expansion strategy across multiple verticals in crypto infrastructure. Other recent purchases include:
Deribit, a major crypto derivatives exchange.
LiquiFi, a token management startup.
UpOnly, a crypto media brand revived through a $25 million NFT-linked acquisition.
With these acquisitions, Coinbase is building what analysts describe as a “vertically integrated onchain financial ecosystem” spanning trading, custody, token issuance, and media.
Following the acquisition news, Coinbase stock (COIN) closed up 2.31% at $343.78 on Monday and is up 33% year-to-date, according to The Block’s market data. The exchange currently boasts a market capitalization of $88.3 billion.
Industry observers see the Echo acquisition as a strategic move to strengthen Coinbase’s position in the growing tokenization and DeFi infrastructure market — and a signal that the company is preparing for the next wave of onchain capital formation.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.
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