Coinbase to acquire crypto investment platform Echo in $375M cash-stock deal

TLDR

• Coinbase is buying Echo for $375 million using a mix of cash and stock, reports the WSJ.
• Echo’s founder Jordan Fish confirmed the deal on X, saying Echo will stay independent for now.
• Coinbase has made eight acquisitions in 2025, including Deribit, LiquiFi, and an NFT tied to UpOnly.
• Coinbase stock rose 2.31% on Monday to $343.78, with a 33% gain year-to-date.

Coinbase Global has agreed to buy Echo, an onchain private investment platform, for $375 million, according to the Wall Street Journal. The deal, confirmed by Echo founder Jordan Fish on X, is Coinbase’s eighth acquisition in 2025. The company is funding the purchase with a mix of cash and stock. This move follows other recent Coinbase acquisitions, including Deribit, LiquiFi, and an NFT tied to the UpOnly podcast.

Acquisition Deal and Confirmation

Coinbase Global has reached a $375 million agreement to acquire Echo, a crypto investment platform built onchain, according to the Wall Street Journal. The transaction will be financed using a mix of cash and Coinbase stock. Specifics on the stock-to-cash ratio are expected to be released later.

Echo founder Jordan Fish, also known by his online alias Cobie, confirmed the news on social media platform X. “I certainly didn’t think Echo would be sold to Coinbase, but, here we are,” Fish posted. He added that Echo would retain its brand and continue operating independently for now.

Strategic Addition to Coinbase’s Expanding Portfolio

The purchase marks Coinbase’s eighth acquisition in 2025. It follows a series of strategic moves to expand its presence across different sectors of the crypto economy. Earlier this year, Coinbase acquired crypto derivatives platform Deribit and blockchain-based asset management service LiquiFi.

Most recently, Coinbase spent $25 million to purchase a non-fungible token (NFT) associated with the well-known crypto podcast UpOnly. Each deal indicates a broader focus on both product expansion and brand diversification.

Echo, known for its product Sonar that facilitates public token sales, is expected to see this feature integrated into Coinbase’s wider platform. The company has not disclosed a timeline for when Sonar will become available on Coinbase.

Market Reaction and Company Performance

Coinbase’s stock closed up 2.31% on Monday, ending the day at $343.78, according to price data from The Block. Year-to-date, the stock has climbed 33%, bringing the company’s market capitalization to $88.3 billion.

The market’s positive response aligns with Coinbase’s continued momentum in 2025. The firm has sought to reinforce its platform with new technologies and user-facing tools, especially those tied to decentralized finance and onchain capabilities.

Echo’s Position and Future Under Coinbase

Echo has built a reputation for offering tools that enable users to invest in onchain private offerings. While Echo will stay independent for now, the integration of Sonar suggests a gradual shift toward deeper collaboration between the two companies.

Jordan Fish noted in his post that no immediate changes will be made to Echo’s structure or branding. However, plans are underway to incorporate Echo’s product features into Coinbase’s broader suite.

As both firms continue to coordinate on the transition, more operational updates are expected in the coming weeks.

The post Coinbase to acquire crypto investment platform Echo in $375M cash-stock deal appeared first on CoinCentral.