Coinbase Acquires Echo to Expand Onchain Fundraising Infrastructure

In Brief

• Coinbase acquires Echo for $375M to boost onchain capital formation tools
• Echo has helped raise $200M+ across 300 deals using private and public token sales
• Coinbase stock closes up 2.31% as investors respond positively to the acquisition

Coinbase announced the acquisition of Echo, an onchain capital raising platform, for approximately $375 million, according to a company statement published on October 21, 2025. The deal aims to connect builders with community capital and provide investors with new onchain investment opportunities.

In an official post on X (formerly Twitter), Coinbase wrote, “Bringing back Up Only was just the warm-up. We’ve acquired @echodotxyz, the leading onchain capital raising platform.” The company added that the acquisition supports its mission of “joining builders with community capital” and “growing economic freedom worldwide.”

Echo enables token-based fundraising through both private Echo sales and public Sonar sales, streamlining community-based investment participation. According to Coinbase, integrating Echo will “make it easier for companies to raise funds and give the community early access to unique opportunities.”

Armstrong and Cobie Highlight Shared Mission as Stock Reacts Positively

Coinbase CEO Brian Armstrong commented, “On-chain capital formation is a vital and unique part of the crypto ecosystem.” He confirmed that Echo and Sonar will become part of Coinbase’s infrastructure, giving users access to early-stage token opportunities.

Echo’s co-founder Cobie, expressed enthusiasm about the merger, writing via @echodotxyz, “We started building Echo to change the dynamics around crypto fundraising. Today, we’re joining Coinbase, but the mission stays the same.” He emphasised the goal of using Coinbase’s scale to provide “better opportunities to investors and better fundraising options to founders.”

Echo has helped projects raise over $200 million across 300 deals since its inception. Coinbase noted that Echo complements its previous acquisition of Liquifi, which focuses on token creation and cap table management, forming a complete funding-to-trading ecosystem.

Meanwhile, Coinbase Global Inc (NASDAQ: COIN) closed at $343.78, gaining 2.31% (+$7.76) for the day, according to Nasdaq data. The stock traded between $338.75 and $354.06, with a market cap of $88.33 billion and a P/E ratio of 33.20, showing steady investor confidence.