Coinbase to Acquire On-Chain Fundraising Platform Echo for $375 Million

​Coinbase Global announced Tuesday that it will acquire Echo, a fast-growing on-chain fundraising platform, in a deal valued at about $375 million in cash and stock. The acquisition marks one of Coinbase’s largest this year, signaling its move into early-stage blockchain financing.

Founded by crypto trader Jordan Fish, known as Cobie, Echo enables blockchain projects to raise funds directly from their communities. Its main product, Sonar, supports both public and private token sales. Coinbase said it will integrate Echo’s tools while allowing the platform to continue operating independently.

Coinbase CEO Brian Armstrong confirmed the deal on X (formerly Twitter), writing:

“Coinbase has acquired @echodotxyz. On-chain capital formation is a vital and unique part of the crypto ecosystem.”

In its statement, Coinbase described the move as part of its goal to make blockchain fundraising “more transparent and accessible for both founders and investors.”

Cobie called the sale “unexpected but gratifying,” adding that Echo will “keep its brand for now,” while Sonar will be integrated into Coinbase to create new channels between founders and investors. He also praised Armstrong’s openness, saying he has “always respected how Brian would listen to an outsider complain and take the feedback seriously.”

Echo has helped projects raise over $100 million through community rounds. The acquisition is seen as part of Coinbase’s strategy to expand its reach beyond trading and custody into token issuance and capital markets. The company said future updates will extend Echo’s infrastructure to support tokenized securities and real-world assets.