Coinbase Buys Cobie’s Echo For $375M To Provide On-Chain Fundraising
Coinbase has acquired Echo, a startup founded by crypto influencer and trader Cobie, for about $375 million as it moves into on-chain fundraising.
The platform has helped projects raise more than $200 million across roughly 300 deals since launch, Coinbase said in an announcement today.
“With this acquisition, we’re building a full-stack solution for crypto projects and investors, covering everything from launch to fundraising to secondary trading.”
Echo Purchase Is Part Of Coinbase’s Broader Mission
The crypto exchange said that the acquisition is part of its broader mission to “create more accessible, efficient, and transparent capital markets.”
Coinbase added that it also aims to unlock more investment opportunities for individual investors, who, up until now, have been unable to invest in private token sales. This will also make it easier for project founders to raise capital.
According to the announcement, Coinbase said that it will initially begin offering token sales via Echo’s Sonar tool. Thereafter, the exchange plans to expand support to tokenized securities and real-world assets over time by leveraging the rest of Echo’s infrastructure.
Coinbase Will Now Support The Full Token Lifecycle
The exchange added that the Echo acquisition complements its recent acquisition of Liquifi, a platform that streamlines token creation and cap table management for early-stage teams.
Liquifi, according to Coinbase, enabled the exchange to support builders “at the start of their journey.” Now, with Echo, the exchange says it can extend its support to fundraising as well.
“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 said.
Cobie Excited About “Cool Things Being Built In Crypto”
Echo’s creator Jordan Fish, better known by his pseudonym ”Cobie,” posted on X that he initially thought that his company had a 95% chance of failing when he launched it.
“I certainly didn’t think echo would be sold to Coinbase, but, here we are,” he wrote.
He added that the crypto space has “moved on a long way” since he started working on the platform, speculating that much of this progress was due to Donald Trump’s election as president.
Cobie said that he feels “energised by a lot of the cool things being built in crypto again,” highlighting Hyperliquid, ZCash and the “stablecoin supercycle” as things that have got him excited.
Coinbase’s announcement of Echo comes off the heels of its $25 million purchase of the UpOnly NFT (non-fungible token), which was also created by Cobie.
Transaction details for the purchase (Source: Etherscan)
Earlier this year, Cobie said that if someone bought and burned the NFT, he would revive the UpOnly podcast, which stopped releasing episodes roughly three years ago.
In the NFT’s fine print, it says that if the token was bought, Cobie and his cohort Ledger would produce another 8-episode season.
“The final season of up only (now “unc only” due to our severe old age) will commence when we figure out who the guests should be lol,” Cobie said in his latest post.
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