Coinbase Buys Investment Platform Echo in $375 Million Deal

Coinbase Global Inc. said it acquired crypto investment platform Echo for about $375 million, expanding the digital-asset exchange’s footprint in private markets.

Coinbase is paying a mix of cash and stock, it said in a blog post Tuesday. It will use the acquisition to integrate Echo’s Sonar platform, which helps early-stage crypto companies raise money through self-hosted public token sales.

Echo also allows firms to raise money through private token sales. That product has helped projects raise more than $200 million from investment groups, according to Coinbase. “While we’ll start with crypto token sales via Sonar, we plan to ...