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Investing.com -- Coinbase Global Inc (NASDAQ:COIN) stock ticked lower by 1.4% following the announcement of its acquisition of Echo, an onchain platform that facilitates community-driven investing and fundraising for cryptocurrency projects.
The acquisition allows Coinbase to expand its service offerings into early-stage fundraising and private token sales. Echo, founded by crypto investor Cobie, has already facilitated over $200 million in fundraising across approximately 300 completed deals since its launch.
Echo’s platform enables cryptocurrency projects to raise capital directly from their communities through private sales or self-hosted public token sales using its Sonar product. This acquisition integrates Echo’s fundraising infrastructure with Coinbase’s existing services, which include exchange listings, custody, staking, and trading.
Coinbase indicated it plans to initially focus on crypto token sales through Sonar and later expand to support tokenized securities and real-world assets. The move follows Coinbase’s recent purchase of Liquifi, which provides token creation and cap table management services for early-stage teams.
By combining Echo’s fundraising capabilities with its existing infrastructure, Coinbase aims to offer comprehensive services spanning the entire lifecycle of cryptocurrency projects from launch through secondary market trading.
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