Performances
RD Popularity Index
RD Growth Index
Revenue & Burn
Protocol income
$0Buyback funds
--Burn funds
--Buyback ratio
--Protocol funds over time
Monthly amounts & ratios
| Period | Protocol income | Buyback funds | Burn funds | Buyback ratio |
|---|---|---|---|---|
| Nov 2026 | $0 | -- | -- | -- |
| Oct 2026 | $10.09K | -- | -- | -- |
| Sep 2026 | $24.99K | -- | -- | -- |
| Aug 2026 | $11.99K | -- | -- | -- |
| Jul 2026 | $32.99K | -- | -- | -- |
| Jun 2026 | $0 | -- | -- | -- |
Comparison
Fundraising
Investment
Follow Updates
Follow Lists
People
About echo
echo is an onchain investment platform founded by trader Cobie, serving community users who want to participate in early-stage deals on the same terms as professional investors. It addresses the pain point that quality primary allocations are long reserved for institutions and insiders, leaving retail unable to follow fairly, so echo uses onchain investment groups to open access to project private or public sales, letting ordinary users enter at the same price as professional capital. Mechanically its Sonar product lets issuers self-host and offer token sales to the public, extending the business from invite-only private placements to compliant public offerings and supporting token issuance and distribution across chains such as Base and Solana.
Group co-investment lowers the participation barrier, but retail must still assess project quality themselves and bear the high failure rate of early-stage bets, and the platform depends on the compliance posture of its partner issuers and distribution channels. After its acquisition by Coinbase, echo's issuance and custody rails are progressively folded into a larger ecosystem, while its neutrality as a standalone brand faces scrutiny over ties to the parent.
In March 2024 crypto trader Cobie (Jordan Fish) founded Echo, using onchain investment groups so community users could co-invest in early-stage deals on the same terms as professional investors.
Echo entered beta in April 2024, initially arranging private rounds for projects such as Ethena; it closed more than 130 deals within eight months, validating the community co-investment model.
In May 2025 Echo launched Sonar, letting projects self-host public token sales, extending the business from invite-only private placements to compliant public offerings across Base, Solana and other chains.
In March 2025 Coinbase Ventures opened a Base ecosystem group on Echo; that year Plasma completed its XPL public sale through Sonar, a flagship case for the product.
On October 21, 2025 Coinbase acquired Echo for about $375 million in cash and stock, folding onchain fundraising into its token issuance, custody and distribution infrastructure.
By the time of the deal Echo had facilitated over $200 million in fundraising across more than 300 projects; Sonar's rails were subsequently aligned with Coinbase's distribution, custody and trading, while Echo continued to operate as a standalone brand.
In 2026 Sonar became Coinbase's main venue for onchain public sales: TownSquare opened on July 20 and filled 20% of its allocation within 30 minutes at $150 million and $200 million tiers capped at $1 million, the first Monad-ecosystem project on Sonar; Multipli sold MULT through Sonar on August 7; and on October 12 AlloX opened a $1 million sale at a $65 million initial fully diluted valuation across $65 million, $52 million and $39 million tiers, with tickets from $100 to $200,000. Post-acquisition, Sonar handles identity verification, eligibility screening and onchain settlement, complementing Liquifi, which Coinbase also bought, starting with crypto token sales before expanding to tokenized securities and real-world assets. Future strategy and roadmap: extend sales from crypto projects to tokenized securities and RWAs, using Sonar's compliance screening to link primary sales, custody and secondary trading; Coinbase says Echo's tools will be wired into its brokerage stack, without disclosing how deep that goes.
echo sits in the middle of Coinbase's capital-formation stack: LiquiFi handles share and token registries, Sonar runs compliant public sales and Coinbase runs secondary trading, together an onchain Nasdaq. Roughly 300 deals and more than $200 million raised show real demand, and Base has already hosted a week of native onchain fundraising above $14 million from thousands of participants; the SEC's five-year conditional exemption for tokenised US equities on 17 September gives Sonar a regulatory bridge from tokens to securities, but eligibility screening and underwriting liability must be rebuilt in each jurisdiction, so growth depends on Coinbase brokerage distribution and how fast RWA issuers list, not on features.
Cobie (Jordan Fish), co-founder, studied computer science at the University of Bristol, entered crypto in 2012, built Maxcoin in 2014, launched the UpOnly podcast and co-founded Lido in 2020, and founded Echo in 2023. The company joined Coinbase in October 2025, after which he took over the trading track, covering the main app, Coinbase Pro and the Base app.
Lexie, co-founder, is a former fund manager who worked with Cobie in 2023 on the private group investing process, on-chain settlement and the backer dashboard.
The Sonar track folded into Coinbase and part of the team moved toward tokenized securities. Cobie keeps his roles as UpOnly host and Lido community member, and Lexie maintains the backer network day to day.