Coinbase Global has agreed to acquire Echo, a community fundraising platform for early-stage crypto projects.
According to The Wall Street Journal, the transaction is worth $375 million, to be paid through a mix of cash and stock. Echo founder Jordan Fish, better known online as Cobie, confirmed the sale on social platform X.
“I did not think Echo would be sold to Coinbase, but here we are,” he wrote, acknowledging the deal’s completion.
A $25 Million NFT Deal Preceded the Acquisition
The acquisition follows an earlier $25 million transaction between Coinbase and Cobie. As reported by The Crypto Basic, the exchange sent $25 million via USDC stablecoin to Cobie’s wallet to purchase and burn an NFT.
The move was part of an effort to revive Cobie’s UpOnly podcast, which had been inactive for years. This transfer, coming shortly before the acquisition announcement, drew attention from the crypto community and hinted at deeper collaboration between Cobie and Coinbase.
Echo’s Journey From Beta Launch to Major Exit
Echo launched in April 2024 as a beta platform to help online communities invest together in early-stage cryptocurrency and technology projects. Within just eight months, the platform facilitated 131 deals and raised over $51 million in capital.
Its first successful campaign funded Ethena, the team behind the USDe synthetic dollar protocol, a fast-growing stablecoin with yield.
In May 2025, Echo expanded its offerings with Sonar, a tool that allows founders to self-host public token sales on blockchains such as Cardano, Base, Hyperliquid, and Solana.
Integration Plans and Future Roadmap
Following the acquisition, Echo will remain an independent platform “for now,” according to Cobie. However, Coinbase plans to integrate Sonar into its ecosystem to expand investment opportunities.
Coinbase said the integration will enable direct, on-chain participation between projects and investors. Initially, Sonar will support crypto token sales, but Coinbase aims to expand into tokenized securities and real-world assets over time, using Echo’s infrastructure.
Sign of ICO Revival in New Form
The Echo acquisition highlights a broader shift in the crypto sector toward community-based fundraising. This approach echoes the dynamics of the Initial Coin Offering (ICO) boom in 2017.
A recent Tiger Research report, dated October 16, noted that public token sales are re-emerging in modern formats. Platforms such as Sonar, Legion, Buidlpad, and Kaito are leading this resurgence.
According to the report, the earlier ICO market collapsed due to fraud and a lack of transparency. However, new launchpads are offering more structured approaches, aiming to rebuild credibility while attracting early users and liquidity.
In parallel, some political figures have endorsed this comeback. In February, Zak Folkman, co-founder of World Liberty Financial, a venture linked to the Trump family, said, “We want to make ICOs great again.”