Coinbase expands its on-chain reach through the $375 million acquisition of crypto investment platform Echo.xyz. The deal strengthens its position in private markets while advancing efforts to make on-chain investing more accessible. It also reflects Coinbase’s broader strategy to build a full-stack ecosystem that connects builders, investors, and users.

Coinbase Acquires Echo for $375 million

Coinbase has announced the acquisition of Echo.xyz, a crypto investment and on-chain fundraising platform, in a deal valued at $375 million. The move marks the exchange’s eighth purchase in 2025 and strengthens its position in private markets and on-chain capital formation.

Echo, founded by crypto investor Jordan Fish, is known for helping blockchain projects raise money either through private token sales or self-hosted public token offerings using its Sonar platform. Since its launch, Echo has been instrumental in over 300 deals, helping projects raise more than $200 million from investment groups and community members, including MegaETH, which raised $10 million.

The purchase will allow Coinbase to connect capital, projects, and investors more efficiently. Builders will gain easier access to funding through tools for both private investment groups and public token sales. On the other hand, investors will enjoy early access to opportunities previously limited to institutional players. The company says it aims to make the process of investing in early-stage crypto ventures more transparent and inclusive. Initially, the focus will be on facilitating sales of crypto tokens. Coinbase also revealed plans to expand Echo’s use to tokenized securities and real-world assets over time.

Fish, popularly known as Cobie, stated in an X post that “Echo will remain a standalone platform under its current brand for now, but we will integrate Sonar’s public sale product into Coinbase, and likely introduce new ways for founders to access investors, and for investors to access opportunities into Coinbase itself”.

From Partnership to Full Ownership

Coinbase’s purchase of Echo follows an earlier collaboration between the two companies. In March 2025, Coinbase Ventures became a group lead on Echo’s platform through the Base Ecosystem Group. The move was designed to unlock more funding and investment access for projects built on the Ethereum Layer-2 network Base.

The acquisition builds on this foundation, transforming an initial partnership into full ownership that aligns with Coinbase’s long-term goal of developing open, efficient, and community-driven financial markets.

Part of a Bigger Picture

The latest purchase marks Coinbase’s eighth acquisition in 2025, including Deribit and Liquifi earlier in the year. It also includes a $25 million NFT buy of the defunct UpOnly podcast, co-hosted by Echo’s Cobie. The series of acquisitions positions Coinbase as a builder of a full-stack crypto ecosystem that connects every stage of a project’s development.

Liquifi supports startups in token creation and cap table management, Echo provides tools for private and public fundraising, and Coinbase’s exchange services enable trading, custody, and secondary market access, while UpOnly explores conversations around the crypto ecosystem. Together, these form an integrated network that links builders, investors, and users across the entire crypto lifecycle.

By merging Echo’s community-driven investment model with Coinbase’s existing ecosystem, the company claims it is building a more open and globally accessible capital market. The acquisition underlines Coinbase’s commitment to expanding beyond exchange trading into a broader infrastructure that supports the entire crypto project lifecycle.