Coinbase CEO Envisions a Future Where Startups Launch, Fund, and IPO On-Chain
Coinbase CEO Brian Armstrong has outlined his vision for a future where startups can launch, fund, and go public entirely on the blockchain. In a recent interview, Armstrong emphasized the potential of blockchain technology to democratize access to early-stage investments, making the fundraising process faster, cheaper, and more transparent for entrepreneurs worldwide.
Armstrong’s vision is supported by Coinbase’s recent acquisition of Echo, an on-chain capital raising platform founded by crypto veteran Jordan “Cobie” Fish. The $375 million acquisition expands Coinbase’s infrastructure across the entire crypto business lifecycle, from token creation and cap table management to fundraising and secondary market trading. Echo has already helped over 300 projects raise more than $200 million since launching in 2024.
Coinbase Acquires Echo to Transform Startup Fundraising
The acquisition of Echo is a significant step towards realizing Armstrong’s vision. Echo’s Sonar product will be integrated into Coinbase’s broader ecosystem, while the platform will initially operate as a standalone entity. Armstrong revealed that he had been courting Cobie for some time, after receiving consistently accurate critical feedback about Coinbase’s products on social media.
The deal also included Coinbase’s $25 million purchase of the UpOnly NFT, reviving the popular crypto podcast that was on hiatus during the FTX collapse. This move demonstrates Coinbase’s commitment to supporting the crypto ecosystem and promoting innovation.
Vision for Building an On-Chain, Full-Lifecycle Company
Armstrong explained how startups could soon tackle every business milestone via blockchain rails. Founders could open a Coinbase account for their startup and integrate on-chain through decentralized autonomous organizations. They could then “hit the fundraise button” to distribute pitch materials to interested investors, with capital arriving immediately via USDC smart contracts.
The CEO highlighted the painful traditional fundraising process that entrepreneurs currently have to go through. “Every entrepreneur I know finds the fundraising process quite arduous,” Armstrong said. “It usually takes two to three months before everything else you’re focused on has to stop. You do tons of pitch meetings. 19 times out of 20, they don’t tell you anything.”
The Regulatory Path for On-Chain IPOs Takes Shape
Armstrong confirmed that Coinbase is working closely with the SEC to create a framework that allows retail investors to participate in on-chain fundraising with appropriate safeguards. The CEO acknowledged that accredited investor rules provide important consumer protection, but also prevent wealthy individuals from accessing high-growth investment opportunities.
Armstrong revealed that he had attempted to partially conduct Coinbase’s own on-chain listing in 2021, but found that regulators were unprepared at the time. “Unfortunately, the SEC wasn’t ready at that point, let’s put it that way,” Armstrong said. “Now we have an SEC that is much more engaged and willing to innovate in this space,” he explained, predicting the first company will go public within two to three years.
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