Coinbase CEO Brian Armstrong has detailed his ambitious plan to bring the entire startup lifecycle onchain, from incorporation and fundraising to public listings, during a recent interview on TBPN. Armstrong emphasized that blockchain technology can democratize access to early-stage investments, making the process faster, cheaper, and more transparent for entrepreneurs globally.
Coinbase acquired Echo, an onchain capital-raising platform founded by crypto veteran Jordan 'Cobie' Fish, for $375 million. Since its launch in 2024, Echo has assisted over 300 projects in raising more than $200 million. Armstrong highlighted that connecting Coinbase's half-trillion dollars in customer assets with quality projects creates a powerful network effect for the crypto economy. The acquisition extends Coinbase's infrastructure across the full lifecycle of crypto ventures, including token creation, cap table management, fundraising, and secondary market trading.
Initially, Echo will operate as a standalone platform, while its Sonar product integrates into Coinbase's broader ecosystem. Armstrong revealed he had been courting Cobie for some time, citing consistently accurate critical feedback on social media. "Every time I'd call him, you know, I DM'd him on X a while back and was like, 'Man, you keep lighting us up on X, but you're right every time,'" Armstrong said. Additionally, Coinbase purchased the UpOnly NFT for $25 million, reviving the popular crypto podcast that had paused during the FTX collapse.
Armstrong described how startups could soon handle every business milestone through blockchain rails. "You can go in there and open a Coinbase account for your startup," he explained, suggesting the company might help entrepreneurs incorporate onchain via decentralized autonomous organizations. Founders could then "press the raise money button" to distribute pitch materials to investors, with capital arriving instantly via USDC smart contracts, eliminating weeks of wire transfers and legal paperwork. He contrasted this with the traditional fundraising process, which he called "pretty onerous," noting it typically takes two to three months and involves numerous rejections.
The vision extends to daily operations and eventual public listings, with Armstrong predicting the first onchain IPO within two to three years. He confirmed Coinbase is working closely with the SEC to establish frameworks for retail investor participation under appropriate safeguards. Armstrong acknowledged accredited investor rules are "kind of unfair" but expressed hope for balancing protection and access. He revealed that Coinbase attempted a partial onchain listing in 2021 but found regulators unprepared at the time, stating, "Now we have an SEC that's much more engaged and willing to innovate on this frontier."
Armstrong emphasized that most companies would raise capital using stablecoins like USDC for pricing stability while holding Bitcoin or other crypto assets as treasury management tools, noting Bitcoin's role as a hedge against inflation. This initiative aligns with Coinbase's Base network and broader DeFi platforms, potentially increasing blockchain activity and democratizing investment opportunities.
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