Coinbase is buying crypto investment platform Echo for $375 million: WSJ
The Block
Coinbase has agreed to acquire the onchain private investment platform Echo for $375 million in cash and stock.Summary
Coinbase Global has reached an agreement to purchase Echo, an onchain private investment platform, for $375 million, according to a report by the Wall Street Journal citing company executives. The acquisition will be funded using a combination of cash and stock, with further details expected soon. This purchase marks Coinbase's eighth acquisition this year, following others like Deribit and LiquiFi, and most recently, the $25 million purchase of the NFT associated with the crypto podcast UpOnly. As of Monday's close, Coinbase's stock was up 2.31% at $343.78, contributing to a 33% year-to-date gain and an $88.3 billion market capitalization.
(Source：The Block)