Coinbase buys crypto-investing platform Echo in $375M deal - report

[Coinbase Releases Third-Quarter Financial Results]
Leon Neal/Getty Images News

Coinbase Global (NASDAQ:COIN [https://seekingalpha.com/symbol/COIN]) has agreed to acquire Echo, a blockchain-based capital-raising platform, in a deal valued at about $375 million, executives told _The Wall Street Journal_.

The deal comprised of a mix of cash and stock, subject to adjustments, and marks Coinbase’s eighth acquisition this year, as the largest U.S. crypto exchange continues to expand amid renewed industry optimism under President Donald Trump’s crypto-friendly administration.

COIN shares fell 1.37% premarket.

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