Last week was one of the wildest crypto-related news of the year, and I have to admit that I almost missed some of it. I was traveling to India for a three day wedding. I tried to keep the content flowing, but there were some tough days with bad internet, sick kids, stomach issues, and of course long wedding parties.
The good news? We are now relaxing in a quiet place with great Wi-Fi and plenty of coffee. There’s plenty of time to roll up your sleeves and get back to work. Let’s take a look at what’s happening in the market.
Coinbase acquires Echo for $375 million
Cryptocurrency Twitter exploded after Coinbase acquired Echo, an on-chain fundraising platform founded by Jordan “Coby” Fish, for about 400 million yen. $375 million A mix of cash and stocks.
Echo has quietly become a central figure in token funding, helping startups raise over $200 million on-chain. With this acquisition, Coinbase signals a major move beyond trading and storage into the direct world. On-chain capital formation game.
The deal signals that Coinbase wants to own every step of a startup’s funding cycle, from launch to fundraising to public listing. If they can build a compliant and user-friendly launch platform, we could see the largest wave of regulated token offerings in cryptocurrency history.
Covey, known for his dry humor and enormous influence, confirmed the sale with a simple post: “I never expected to sell Echo to Coinbase, but here we are.”
Echo will reportedly continue as a standalone brand for now, but we can expect it to be deeply integrated into the Coinbase ecosystem in the coming months. The timing couldn’t be better, as institutional money continues to flow back into Web3 and token launches heat up again.
Coinbase also acquires UpOnly NFT for $25 million
Just when everyone was catching their breath, Coinbase also dropped another item. $25 million Cobie’s UpOnly NFT gives you the rights to bring back the iconic UpOnlyTV crypto podcast.
Yes, that’s right. The NFT itself represents the production rights to new episodes, making it one of the most interesting NFT utility cases we’ve seen this year.
This transaction shows that cryptocurrency culture and corporate strategy can collide in strange and powerful ways. Coinbase is no longer just buying infrastructure, it’s buying stories, culture, and content. UpOnly was one of the most famous crypto shows of the last cycle, and its return could reunite Coinbase with the grassroots side of crypto culture.
Important airdrop update
While the headlines were dominated by Coinbase and Cobie, the airdrop scene continued to be delivered quietly in the background. This week’s most important updates include:
- Hyperwave Airdrop application is valid — Eligible users can now claim directly in their dashboard.
- Remember that airdrop applications are valid — The team removed the submission site this week due to high engagement numbers.
- Turtle Airdrop Checker is up and running — You can now check eligibility across multiple chains.
- deBridge season 2 snapshot is completeand Season 3 will start soon — Airdrop farmers, it’s time to get back into action.
The past few months have proven that the airdrop cycle is not slowing down. Rather, it is expanding into DeFi, gaming, and the new L2 ecosystem. So, connect your wallet and keep notifications turned on. Please don’t miss these.
Dive deep into different ecosystems to farm with our latest guides.
Bitcoin rebounds above $110,000 after crash
After last week’s brutal correction, Bitcoin is back on top $110,000has shown a resilience that continues to captivate traders. The rally comes as markets cool from President Trump’s tariff panic and wave of liquidations.
BTC found strong support near the $100,000 zone and quickly regained a key technical level, giving the bulls some breathing room. While traders remain cautious, this move shows that long-term holders continue to defend their positions. If Bitcoin sustains above $110,000, we could see renewed momentum heading into November.
Check out the altcoins I’m currently paying attention to.
Fed governor warns about stablecoin risks
Federal Reserve President Michael Barr warned in a new statement that stablecoins could pose significant risks without proper backing and regulation. He stressed that stablecoins need to maintain transparent reserves and clear redemption rights to protect users and the broader financial system.
This is yet another reminder that regulators are keeping a close eye on stablecoins as they grow into a multi-billion dollar market. Upcoming frameworks like the GENIUS Act could soon lead to stablecoin issuers facing greater scrutiny and reshaping how DeFi protocols and exchanges manage liquidity.
Polymarket receives $2 billion investment from ICE
Prediction markets have just become mainstream. Intercontinental Exchange (ICE), the parent company of the New York Stock Exchange, announced a $2 billion investment in Polymarket, one of the leading on-chain prediction platforms.
The deal exposed ICE to decentralized event trading, highlighting how traditional finance is entering the world of on-chain markets. Polymarket growth has been explosive this year, with record amounts of political and crypto-related predictions. With ICE’s backing, the platform could soon become a “Bloomberg Terminal” for betting on real-world events.
The CLARITY Act is stalled in the U.S. Senate
The long-awaited CLARITY Act, which aims to classify digital assets as securities or commodities, is stalled in the US Senate. The delay reflects continued political divisions over which agency should regulate cryptocurrencies.
For the industry, this means increased uncertainty. Exchanges, DeFi projects, and token issuers will continue to operate in a fog of mixed signals from the SEC and CFTC. Many believe that lack of progress could delay institutional implementation, at least until clearer rules are established. Still, if the legislation moves forward, it could finally provide the framework needed for the growth of the U.S. cryptocurrency market.
final thoughts
Coinbase’s move to acquire Echo and UpOnly NFT signals a new phase in crypto consolidation, one in which the largest players acquire both infrastructure and culture.
It also shows how deep the next bullish cycle will be. It’s no longer just about price. It’s about platforms, creators, and communities being absorbed into a larger ecosystem.
Meanwhile, it’s business as usual for those of us who continue to farm, claim territory, and trade. Stay up to date with claims, keep an eye out for new airdrops, and maybe, just maybe, start building your own “Echo” before the next wave of acquisitions begins.
If you enjoyed this blog, check out our other cryptocurrency news updates.
As always, don’t forget to claim the following bonuses at Bybit. See you next time!
