Takeovers are often not well received on the market.
Is this a good opportunity for you to buy more?
Coinbase is buying the platform of crypto influencer Cobie for around 375 million US dollars. The aim: token sales directly on the blockchain.
The US crypto exchange Coinbase has acquired the platform Echo. The start-up enables communities to jointly invest capital in early financing rounds. The deal cost around 375 million US dollars.
Echo was founded in 2024 by Jordan Fish, better known in the crypto community as Cobie. The platform aimed to bridge the gap between private investment rounds and public participation, with a focus on on-chain crowdfunding.
Since its launch in April 2024, Echo has raised over 51 million US dollars for 131 projects. The first project was Ethena, which is behind the fast-growing stablecoin USDe. With the product Sonar, Echo enabled founders to host their own token sales on blockchains such as Base, Solana, Cardano or Hyperliquid.
According to Coinbase, Echo will initially continue to operate under its own name, while Sonar will be integrated into the crypto exchange's ecosystem. In the long term, Coinbase also plans to offer tokenized securities and real-world assets.
The purchase is reminiscent of the ICO era of 2017, when public token sales first became a mass phenomenon. According to an analysis by Tiger Research, public sales are currently making a comeback, this time with clearer rules and more transparent structures.
