Coinbase spends $375 million to purchase Echo, while Pave Bank raises $39 million.
Coinbase continues its acquisition binge, paying $375 million for Echo.
Echo is an on-chain community investing platform.
Coinbase announced its fifth significant acquisition in 2025. BUX Cyprus' Stryk, which provides European citizens with contract-for-difference (CFD) trading services, was bought in January. Coinbase also acquired Spindl, a San Francisco company building a blockchain-based attribution system to help companies gain users, the same month. The business bought Dutch cryptocurrency derivatives exchange Deribit in May. In July, Coinbase added San Francisco company Liquifi, which automates token vesting and lockups. Financial specifics of the purchases remained unknown.
Trump’s pardon of CZ branded “disgusting” amid Binance-linked deals
CZ’s pardon followed years of scrutiny from American regulators who accused Binance of violating anti-money-laundering laws and facilitating transactions involving sanctioned entities.
U.S. agencies had been conducting parallel investigations since at least 2021. In November 2023, the Treasury Department’s Financial Crimes Enforcement Network and Office of Foreign Assets Control jointly announced that Binance had violated the Bank Secrecy Act and U.S. sanctions by allowing trades connected to terrorist groups and restricted jurisdictions.
The Department of Justice stated that Binance “turned a blind eye to its legal obligations in the pursuit of profit,” enabling illicit funds to move through the platform.
In November 2023, CZ personally pleaded guilty to failing to maintain an effective anti-money-laundering program, a felony under the Bank Secrecy Act. He resigned as CEO and agreed to pay a $50 million fine.
Binance itself also pleaded guilty to criminal charges that included conspiracy to violate the same law, operating as an unlicensed money-transmitting business, and breaching the International Emergency Economic Powers Act.
The company’s settlement with U.S. authorities reached $4.3 billion in penalties, one of the largest in corporate criminal history. In April 2024, CZ was sentenced to four months in prison and was released in September 2024 after serving his term.
Shiba Inu price may nosedive as key Shibarium metrics plunge
Shibarium’s transactions are handled with the BONE token. These BONE fees are then converted into SHIB and burned, boosting Shiba Inu’s tokenomics by reducing inflation.
Data shows that Shibarium has not gained market share in the layer-2 industry. For example, the total value locked in its chain has plummeted to below $1 million. Most of the losses happened after the recent ShibaSwap hack.
