Coinbase signs $375 million deal for crypto investment platform Echo

FILE PHOTO: Smartphone with displayed Coinbase logo and representation of cryptocurrencies are placed on a keyboard in this illustration taken, June 8, 2023. REUTERS/Dado Ruvic/Illustration/File Photo

(Reuters) -Crypto heavyweight Coinbase said on Tuesday it has bought investment platform Echo in a nearly $375 million cash-and-stock deal, aiming to bring fundraising tools to its platform.

Dealmaking within the digital assets industry has picked up pace this year as a crypto-friendly Trump administration encourages companies to expand their business in the U.S.