Coinbase pulled off a blockbuster double play in the crypto space, snapping up Echo Cobie’s onchain fundraising powerhouse for ~$375 million while also dropping $25 million on his iconic UpOnly NFT to kickstart a podcast comeback.
This isn’t just a cash splash—it’s a calculated strike to dominate early-stage token launches, blend culture with commerce, and lock in community goodwill. Coinbase inked a cash-and-stock deal valued at approximately $375 million for Echo, the onchain capital formation platform founded by Jordan “Cobie” Fish in 2023.
Echo has already powered over $200 million in raises across ~300 deals, connecting founders with community investors via private sales and its self-hosted Sonar tool for public token launches on chains like Base, Solana, and Hyperliquid.
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This slots perfectly into Coinbase’s “full-stack” vision for crypto projects—from ideation via tools like Liquifi to listings, custody, and now fundraising. Echo stays standalone for now, but Sonar integrates directly into Coinbase, opening doors for tokenized securities and real-world assets (RWAs) down the line.
As Cobie put it in his announcement post: “Echo will remain a standalone platform under its current brand for now, but we will integrate sonar’s public sale product into coinbase.” In a market where new tokens drive user growth think Binance’s edge via aggressive listings, this positions Coinbase as the go-to for fair, transparent launches.
It’s Coinbase 8th acquisition in 2025, signaling aggressive ecosystem-building amid post-election crypto optimism.
The UpOnly NFT: From Meme to Media Powerhouse ($25M Flex)
Coinbase wired 25 million USDC to Cobie’s wallet for the UpOnly NFT—a satirical token minted in May 2024 as a “bluff” with an absurd floor price. Burning it which Coinbase did contractually obligates Cobie and co-host Ledger Status to produce 8 new episodes of UpOnlyTV, the raw, no-BS crypto podcast that ran 2021–2023 and peaked as a cultural staple during the bull run.
CEO Brian Armstrong confirmed it with a cheeky X post: “The rumours are true, we bought the NFT. UpOnlyTV is coming back.” Cobie, ever the troll, joked about renaming it “Unc Only” due to their “severe old age” and spending the proceeds on cosmetic surgery.
But insiders see this as Coinbase’s media entry: sponsored episodes could blend education, hype, and listings to pull in retail crowds. NFT Angle: This ranks as the 5th priciest NFT ever sold, sparking a mini-rally in related memecoins (e.g., UPONLY on Base up 7,900%). It’s peak crypto irony— a parody of NFT hype now funds real content.
$25M as “Free” Marketing Genius?
Community sleuths are calling the NFT buy a bundled sweetener in the Echo deal totaling ~$400M, timed a day early for viral buzz. It amplified both announcements, turning a “noble failure” into a feel-good win. As one X user nailed it: “Coinbase gets the goodwill + brand of Cobie for ‘no additional cost’ and amplifies both news to capture all of CT.”
Congrats to Cobie— from Tesco shelf-stacker to crypto whale in a decade. Easier onchain raises mean more accessible deals, democratizing what was once VC-gated. BTC/ETH steady (~$112K/$4K), but this adds froth to Base and perps ecosystems. Watch for UpOnly guests like Hyperliquid’s Jeff—could spotlight integrations.
Post-Trump win, they’re lobbying for AML updates and rolling out perks like the Coinbase One Card. This feels like the start of a media-finance hybrid. One day you’re yapping on X, the next you’re cashed out to the moon. What’s next—Coinbase bids on Bankless? Onwards, as Cobie says.
