Copyright Benzinga
Coinbase Global Inc. (NASDAQ:COIN) has agreed to acquire blockchain fundraising platform Echo for roughly $375 million in cash and stock, according to The Wall Street Journal. Coinbase Expands Under Trump-Era Tailwinds The deal marks Coinbase's eighth acquisition this year as the exchange capitalizes on a crypto-supportive policy environment under President Donald Trump. The acquisition underscores Coinbase's strategy to evolve from an exchange into a full-service capital markets platform. Echo's technology enables blockchain-native fundraising through both private and public token sales, offering early-stage companies new tools for capital formation. The move comes as more firms turn to on-chain fundraising models to avoid traditional venture bottlenecks. Shan Aggarwal, Coinbase's chief business officer, said the company's goal is to make "capital markets more open and accessible". Deal Builds on Coinbase's Acquisition Streak Coinbase has completed more than 40 deals since its 2012 founding. Its largest transaction this year was the $2.9 billion acquisition of Deribit, a major derivatives exchange for Bitcoin and Ethereum options. Echo, founded by well-known crypto trader Jordan "Cobie" Fish, has helped blockchain projects raise more than $200 million since launching in 2023. Earlier this year, it debuted Sonar, a platform that allows founders to host public token sales directly on-chain. The company's rapid growth and regulatory positioning made it a target for Coinbase's capital-markets expansion as the exchange looks to compete more directly with financial giants entering digital asset fundraising. Political Climate Boosts U.S. Crypto Industry The Trump administration's pro-crypto stance has sparked a wave of dealmaking across the digital assets sector. Earlier this month, rival exchange Kraken struck a $100 million agreement to acquire Small Exchange, a U.S.-based futures platform, as firms race to deepen regulatory footprints. Trump, who once criticized cryptocurrencies, has reversed his stance in his second term — supporting industry-friendly appointments and establishing a national Bitcoin reserve via executive order earlier this year. With the Echo acquisition, Coinbase aims to position itself at the center of the next phase of digital capital markets. Coinbase Technicals Show Tightening Price Structure COIN Price Dynamics (Source: TradingView) On the daily chart, COIN is consolidating inside a symmetrical triangle pattern, with resistance forming near $397 and support around $300. The stock trades near $337, just below the 20-day EMA ($345) and above the 100-day EMA ($320), showing that bulls are defending the midrange trendline. The Bollinger Bands are narrowing, suggesting volatility compression ahead of a potential breakout. A sustained close above $350 could open upside toward $397, while failure to hold the $320 support zone may expose the 200-day EMA near $293. Read Next: Pentair Boosts Outlook, Names New CFO After Strong Q3 Performance Image: Shutterstock
