Coinbase Races to Catch Up with Binance — Spends $375M to Acquire Crypto Platform Echo

TradingKey – Following its investment in CoinDCX, Coinbase continues its expansion with the acquisition of Echo, though it still trails Binance by a wide margin.

On October 21, market sources revealed that Coinbase (COIN) has acquired crypto investment platform Echo for $375 million. Echo founder Cobie commented, “I never imagined Echo would be acquired by Coinbase, but here we are.”

Echo operates as a crypto angel investment platform, enabling retail investors to pool resources and participate in early-stage crypto funding — essentially transforming retail into institutional-style capital. 

On May 27, 2025, Echo launched its token sale infrastructure product Sonar. Just five months later, Echo has been acquired by Coinbase, and Sonar’s public offering tools will now be integrated into the Coinbase ecosystem.

Earlier this year, Coinbase also announced a strategic investment in crypto exchange CoinDCX, aimed at strengthening its footprint in India and the Middle East, and boosting its competitive edge.

Despite these moves, Coinbase still lags behind Binance (BNB) in several areas. Notably, Bybit has overtaken Coinbase in spot market share, underscoring the intensifying competition.

Top 10 Spot Market Share Rankings – Source: CoinMarketCap.