Coinbase has acquired Echo, an onchain platform that helps communities invest together and gives founders more options for their cap table. Like us, Echo believes in democratizing early-stage investing, so that more people can support the next generation of breakthrough companies. Founded by Cobie, a crypto OG and long-time advocate for community-driven investing, Echo has pioneered tools that make fundraising more inclusive, transparent, and efficient.

The “why” is simple. We want to create more accessible, efficient, and transparent capital markets. But today, founders often struggle to raise capital and individual investors don’t have the opportunity to invest in private token sales.

Echo solves this by allowing projects to raise directly from their community, either through a private sale or by self-hosting a public token sale using Sonar. Integrating Echo’s tools will help us enable more direct community participation, joining projects with capital, entirely onchain. While we’ll start with crypto token sales via Sonar, we plan to expand support to tokenized securities and real-world assets over time, leveraging Echo’s infrastructure.

Echo has already made strides in opening up private markets helping projects raise $200M+ over ~300 completed deals since launch. Its new self-hosted public token sale product Sonar has also seen early success, helping power Plasma’s XPL token sale.

With this acquisition, we’re building a full-stack solution for crypto projects and investors, covering everything from launch to fundraising to secondary trading.

For builders: Easier access to capital and community-aligned fundraising tools like Echo for private investment groups and Sonar for self-hosted public token sales

For investors: New, differentiated opportunities that were previously out of reach, either through a trusted platform like Echo or through direct offerings with Sonar

**For the onchain economy: **A more efficient, transparent, and globally accessible capital market that drives innovation and growth

Echo complements our recent acquisition of Liquifi, which streamlines token creation and cap table management for early-stage teams. While Liquifi strengthened our ability to support builders at the start of their journey, Echo extends that support into fundraising. Combined with our existing strengths in exchange listings, custody, staking, trading, and financing, we’re now equipped to support token issuers and investors across the full lifecycle – from launch to fundraising to secondary markets.

Coinbase is already a trusted platform where users, liquidity, and trust converge. Expanding into fundraising just removes friction, empowering builders and investors and enabling the ecosystem to grow.

Footnotes:

*[1] Coinbase acquired Echo for approximately $375M as of 10/20/25, comprised of a mix of cash and stock, subject to customary purchase price adjustments. *

Forward-Looking Statements

This blog contains forward-looking statements including, but not limited to, statements related to the integration of this acquisition and its expected benefits. These forward-looking statements are based on management’s beliefs and assumptions, and investors should not place undue reliance on any such forward-looking statements because they speak only as of the date they are made. Coinbase does not undertake any obligation to update or revise any forward-looking statements. In addition, forward-looking statements are subject to certain risks and uncertainties that could cause actual results, events and developments to differ materially from Coinbase’s historical experience and its present expectations or projections. These risks and uncertainties include, but are not necessarily limited to, those described in Coinbase’s filings with the SEC.