Coinbase has acquired Echo, a crypto platform that helps startups raise money directly from their communities, for $375 million. 

Evernorth Holdings, a Ripple-backed firm, plans to go public through a SPAC deal and raise over $1 billion to build a large XRP investment vehicle.

Crypto exchange and wallet provider Blockchain.com has held talks about going public through a SPAC deal, according to sources familiar with the matter. Cohen & Company Capital Markets is advising the firm.

Top stories in the Crypto Roundup today:

• Coinbase Buys Fundraising Platform Echo for $375M
• Ripple-Backed Firm Plans $1B SPAC to Build Public XRP Investment Vehicle
• Blockchain.com Exploring SPAC Deal to Go Public, Sources Say

Coinbase Buys Fundraising Platform Echo for $375M

Coinbase has acquired Echo, a crypto platform that helps startups raise money directly from their communities, for $375 million. 

Founded by crypto personality Cobie, Echo has supported over $200 million in fundraising across 300 projects. Its main product lets startups launch public token sales or run private rounds without needing traditional investors.

While Echo will continue operating independently, Coinbase plans to fold some of its tools into its broader platform, giving founders and retail investors new ways to access early-stage deals.

The acquisition follows Coinbase’s purchase of token management firm LiquiFi and a $25 million investment in reviving Cobie’s UpOnly podcast.

Ripple-Backed Firm Plans $1B SPAC to Build Public XRP Investment Vehicle

Evernorth Holdings, a Ripple-backed firm, plans to go public through a SPAC deal and raise over $1 billion to build a large XRP investment vehicle.

The company will merge with Armada Acquisition Corp II and aims to list on Nasdaq under the ticker XRPN by early 2026. Investors include SBI, Ripple, Pantera Capital, Kraken, and others.

Most of the funds will go toward buying XRP on the open market. Unlike an ETF, Evernorth will actively manage its holdings through lending, liquidity services, and DeFi to generate returns.

Led by former Ripple executive Asheesh Birla, Evernorth also plans to run XRP Ledger validators and use Ripple’s RLUSD stablecoin to access DeFi. The deal still requires shareholder and regulatory approval.

Blockchain.com Exploring SPAC Deal to Go Public, Sources Say

Crypto exchange and wallet provider Blockchain.com has held talks about going public through a SPAC deal, according to sources familiar with the matter. Cohen & Company Capital Markets is advising the firm.

While it’s unclear if discussions are ongoing, the move follows other crypto firms seeking public listings, including Circle and Gemini.

Blockchain.com’s valuation hit $14 billion in 2022 but fell to $7 billion in 2023. Earlier this year, it hired new executives with IPO experience and expanded into African markets.

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