Coinbase acquired Echo for $375 million, placing Echo Sonar token sales on a path into Coinbase as ICO-style public token sales reappear. Jordan “Cobie” Fish confirmed the number. A day earlier, $25 million in USDC moved to Cobie’s wallet for an NFT buy-and-burn tied to the UpOnly podcast.
Coinbase Echo Acquisition: $375M Deal and $25M USDC Transfer
Coinbase Echo acquisition terms set the headline at $375 million. Coinbase said Tuesday it bought Echo, a platform for community fundraising in early-stage crypto projects. The company positioned the move around bringing onchain fundraising tools to a broader audience.
On the day before the announcement, $25 million in USDC hit Cobie’s wallet. The transfer funded an NFT purchase and burn tied to the UpOnly podcast. The timing placed a material USDC flow next to a corporate action involving Echo.
Cobie confirmed the sale on X:
“I certainly didn’t think Echo would be sold to Coinbase, but here we are: Today Coinbase bought Echo for about $375 million.”
The post fixed both the buyer and the price. It also underscored Echo’s quick exit after less than two years.
Echo Sonar Token Sales and Integration into Coinbase
In May, Echo launched Sonar, a product for public token sales that founders can self-host. Teams choose parameters and pick chains. Supported venues include Hyperliquid, Base, Solana, and Cardano.
After the Coinbase Echo acquisition, Echo will remain a standalone brand “for now,” according to Cobie. However, Echo said Sonar will be integrated into Coinbase. That change places Echo Sonar token sales in front of Coinbase users and identity rails.
Coinbase stated the initial focus is token sales:
“While we’ll start with crypto token sales via Sonar, we plan to expand support to tokenized securities and real-world assets over time, leveraging Echo’s infrastructure.”
The line sets an expansion path beyond utility tokens.
Ethena USDe and Echo’s Early Track Record
Echo entered beta in April 2024. The platform’s mission was to let communities invest together in private rounds. In its first eight months, Echo recorded at least $51 million raised across 131 deals.
Ethena was the first to raise on Echo. The protocol behind USDe (USDE) used Echo during an early growth phase. The case put a recognizable name on Echo’s pipeline of public token sales and community allocations.
The Echo track record featured steady deal flow, not long operating history. The $51 million and 131 deals figures provide a snapshot of activity. They also anchor the Coinbase Echo acquisition in data rather than narrative.
ICO Comeback and Public Token Sales: Tiger Research
A Tiger Research report described a shift back toward public token sales. It cited launchpads such as Legion, Buidlpad, Sonar, and Kaito. The note contrasted the current moment with the 2017 ICO peak and subsequent bust.
Tiger Research wrote that the ICO boom “peaked in 2017 but rapidly contracted as it lost credibility due to fraud and opaque information.” It added that the market then moved to private sales. The summary placed ICO-style activity in a clear timeline.
The report stated “public sales are recently resurging in new forms.” It also noted that short-term hype may fade. However, it said public launchpads are expected to persist because projects need early users and liquidity.
Launchpads Sonar, Legion, Buidlpad, Kaito Across Hyperliquid, Base, Solana, Cardano
Echo Sonar token sales operate across multiple chains. Founders can set terms and use venues like Hyperliquid, Base, Solana, or Cardano. That flexibility matters for settlement, distribution, and user access.
Other public token sales platforms include Legion, Buidlpad, and Kaito. The Tiger Research list shows how launchpads spread volume across ecosystems. It also shows that ICO-style mechanics can appear under different brands.
Chain choice influences custody and identity flows. Base ties directly to the Coinbase stack. Solana and Hyperliquid provide speed and liquidity patterns. Cardano supports teams seeking an alternative settlement environment.
Tokenized Securities and Real-World Assets on Coinbase
Coinbase said it will start with Sonar token sales and later expand. The company named tokenized securities and real-world assets as future categories. The plan is to use Echo infrastructure across these instruments.
The Coinbase Echo acquisition sets the stage for regulated distribution front ends. Echo supplies the mechanics for sale creation, allocation, and records. Coinbase brings user reach and compliance layers.
Voices outside research have echoed the renewed ICO talk. In February, Zak Folkman of World Liberty Financial said, “We want to make ICOs great again.” The quote shows how public discourse references a recognizable term even as formats evolve.
Disclosure:This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
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Tatevik Avetisyan is an editor at Kriptoworld who covers emerging crypto trends, blockchain innovation, and altcoin developments. She is passionate about breaking down complex stories for a global audience and making digital finance more accessible.
📅 Published: August 4, 2025 • 🔄 Last updated: August 4, 2025
