Coinbase News: Coinbase Ventures and Echo.xyz Expand Funding for Base Ecosystem Projects

Coinbase Ventures has announced a strategic partnership with Echo.xyz, an on-chain private investment platform, to bolster funding for startups developing on Base, a blockchain network designed to support decentralized applications.

Echo.xyz and Coinbase Ventures to Expand Funding for Base Projects

Coinbase Ventures has joined Echo.xyz, an on-chain private investment platform, as a “Group Lead” to expand funding opportunities for startups building on Base. This move is part of the next phase of the Base Ecosystem Fund, which was created to support early-stage projects on Base. Base is a blockchain network developed by Coinbase to help developers build decentralized applications that run on blockchain technology instead of centralized servers, allowing users to interact with financial tools and digital assets without traditional intermediaries like banks. Since its launch, Coinbase Ventures has invested in over 40 projects.

Franklin Templeton Joins XRP ETF Race Amid SEC Delays

Franklin Templeton has filed an S-1 with the SEC to seek approval for an XRP ETF. If approved, the ETF will provide investors with direct exposure to Ripple’s XRP by tracking its price without requiring them to hold the digital asset directly. The proposed Franklin XRP Trust aims to reflect the performance of the price of XRP before payment of the Fund’s expenses and will be listed on the Cboe BZX Exchange, with Coinbase Custody serving as the fund’s custodian. Franklin Templeton joins other asset managers such as Grayscale, WisdomTree, Bitwise, 21Shares, and Canary Capital in awaiting regulatory approval for an XRP ETF.