Coinbase, the leading US-based cryptocurrency exchange has acquired one of the more popular platforms for crypto startups to raise capital – Echo. According to the official announcement, the deal was worth approximately $375 million.
Coinbase Acquires Echo
Echo, founded by one of the most popular crypto personalities, going by the X nickname Cobie (real name Jordan Fish), is a capital-raising platform that allows its users to participate in early-stage crypto fundraising rounds.
According to the announcement:
Echo has already made strides in opening up private markets helping projects raise $200M+ over ~300 completed deals since launch. Its new self-hosted public token sale product Sonar has also seen early success, helping power Plasma’s XPL token sale.
The deal was worth approximately $375 million and it was comprised of a mix of cash and stock, subject to customary purchase price adjustments.
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