Coinbase buys Cobie's Echo crypto-investing platform for $375M
The Echo acquisition underscores Coinbase’s focus on expanding institutional services and growing its competitive edge in the global digital assets marketplace.
Key Takeaways
- Coinbase has acquired Echo, a crypto-investing platform, signaling continued expansion through strategic acquisitions.
- The move fits Coinbase's strategy to broaden its ecosystem and institutional offerings, following recent interest in derivatives platform Deribit.
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Coinbase, a US-based cryptocurrency exchange, has secured a deal to acquire Echo, a crypto-investing platform founded by crypto influencer Cobie, for $375 million, the company announced today.
The acquisition aligns with Coinbase’s broader strategy of expanding its ecosystem through strategic acquisitions of trading-infrastructure and analytics platforms. The company recently acquired Deribit to gain a stronger presence in international leverage trading markets.
Coinbase has been enhancing its institutional offerings by integrating with major financial entities like JPMorgan through its Base layer-2 network. The Echo deal supports the company’s move to incorporate platforms for comprehensive ecosystem growth.
