Coinbase Acquires Echo: Fueling Community-Driven Crypto Funding

Coinbase is strategically investing in the future of crypto fundraising with its $375 million acquisition of Echo, a platform designed to facilitate decentralized capital formation. This move aims to bolster onchain funding and bring back the community-driven spirit of initial coin offerings (ICOs). By integrating Echo’s capabilities with its own infrastructure, Coinbase aims to empower projects and startups to raise funds through innovative methods. Echo has facilitated over $51 million in funding for various DeFi projects like Ethena, demonstrating a clear shift towards engaging communities in the crypto world.