Coinbase bets on ICO comeback with $375M Echo deal

Echo, a crowdfunding platform whose first fundraising project was Ethena, has been acquired by Coinbase after less than two years of operation.

Major US cryptocurrency exchange Coinbase has acquired Echo, a platform that allows communities to raise capital targeting early-stage projects and startups.

Coinbase struck a $375 million deal to acquire Echo, a crowdfunding platform founded by crypto trader Jordan Fish, known in the community as Cobie, the company announced on Tuesday.

The acquisition came the day after Coinbase sent $25 million in USDC (USDC) to Cobie’s wallet to acquire and burn a non-fungible token (NFT) and revive his UpOnly podcast.

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