Coinbase Acquires Echo for $375M – And It Could Spark the Return of ICOs

Coinbase has acquired Echo, an on-chain capital-raising platform founded by crypto veteran Cobie, in a $375 million deal that could reshape how projects raise funds and potentially reignite interest in public token sales, a format once synonymous with the initial coin offering (ICO) boom of ￰1￱ a statement published on its blog, Coinbase described Echo as a leading platform that makes community-based fundraising more accessible and ￰2￱ acquisition, led by Coinbase executives Shan Aggarwal and Aklil Ibssa, seeks to simplify how projects raise funds directly from their supporters while opening early investment opportunities to retail users.). Thanks to Ethena, to the group leads that shared the deal, and to the Echo users who bought it.

Onwards! — Cobie (@cobie) March 6, 2025 Coinbase executives said the acquisition extends the company’s reach across the entire lifecycle of crypto ventures, from token creation and cap table management, supported by its earlier acquisition of Liquifi, to fundraising and secondary market trading. “We’re building a full-stack solution for crypto projects and investors,” the blog post stated. Cobie, Echo’s founder, confirmed the acquisition on X, saying he “certainly didn’t think Echo would be sold to Coinbase, but here we are.” He added that Echo would “remain a standalone platform under its current brand for now,” while Sonar would be integrated into Coinbase’s ecosystem to create new pathways for founders and ￰3￱ i started building echo 2 years ago, i knew it had 95% chance of ￰4￱ be honest, i couldnt really imagine any other outcome, but i thought at least it may be a noble failure worth attempting.

i certainly didn't think echo would be sold to coinbase, but, here we are:… — Cobie (@cobie) October 21, 2025 When Echo launched in beta in April 2024, Cobie described it as a 95% long shot but a “noble failure worth attempting.” Instead, the platform became one of the most talked-about new ventures in on-chain fundraising, driven by its mission to let communities invest together in early-stage crypto ￰5￱ acquisition adds to a string of Coinbase expansions this October, reflecting the exchange’s broader effort to become a full-stack crypto infrastructure ￰6￱ the last two weeks, the company has launched decentralized exchange (DEX) trading in its mobile app , reintroduced staking services in New York , and filed for a ￰7￱ Trust ￰8￱ also unveiled new payment tools under its Coinbase Business suite and made a new investment in India’s CoinDCX exchange , strengthening its global ￰9￱ purchased UpOnly NFT from well-known crypto trader Cobie for $25 million, resurrecting the podcast show “UpOnly” after three years halt. #Coinbase #UpOnlyNFT #Cobie ￰0￱ — ￰10￱ (@cryptonews) October 21, 2025 Coinbase CEO Brian Armstrong has also reconnected with Cobie on a cultural ￰11￱ this week, Coinbase purchased the UpOnly NFT from Cobie for $25 million , reviving the popular “UpOnly” podcast that paused during the FTX ￰12￱ This How ICOs Make a Comeback—Transparent, Regulated, and On-chain?

The relevance of Coinbase’s acquisition extends beyond corporate ￰13￱ indicates a growing trend of regulated, community-driven token sales, a shift that could define the next phase of crypto ￰14￱ move also arrives as market analysts report a renewed appetite for public sales, once the hallmark of ￰15￱ to Tiger Research , platforms such as Sonar, Buidlpad, Legion, and Kaito are leading a new wave of compliant launchpads that combine accessibility with investor protection through KYC and transparency measures.) later classified many ICOs as unregistered securities offerings, forcing several projects to return investor funds or pay ￰16￱ makes this new wave different is its ￰17￱ token sales are self-hosted, transparent, and often governed by compliance frameworks such as Europe’s MiCA law , which provides clear guidelines for token ￰18￱ guardrails make the environment far safer than during the ICO frenzy, where investors often faced opaque terms and rug pulls.

Echo’s Sonar product fits neatly into this ￰19￱ allows founders to host their own public token sales directly on blockchains like Base, Solana, Cardano, and ￰20￱ Coinbase, integrating Sonar could transform its exchange from a trading hub into a global fundraising gateway, giving verified users access to early-stage investment opportunities previously reserved for venture capital firms.