Coinbase News: Coinbase Ventures Forms Strategic Alliance with Echo.xyz to Boost Base Ecosystem Growth

Coinbase Ventures, the investment division of the popular cryptocurrency exchange Coinbase, has announced a significant strategic partnership with Echo.xyz, an innovative on-chain private investment platform. This collaboration marks a pivotal move to enhance the funding landscape for projects built on the Base network.

Coinbase Ventures Joins Echo.xyz to Boost Base Ecosystem Growth

Coinbase Ventures, the investment arm of Coinbase, has formed a strategic alliance with Echo.xyz, an on-chain private investment platform. This collaboration establishes Coinbase Ventures as the ’Group Lead’ of the Base Ecosystem Fund, which focuses on enhancing funding options for Base network-based projects. The alliance aims to substantially advance Base’s ecosystem development, facilitating quick decentralized applications (dApps) growth across the network. Through this partnership, Echo.xyz opens investment doors, supporting over 40 projects with Coinbase Ventures driving investment, thus enhancing Base ecosystem growth and transparency.

Vermont Withdraws Case Against Coinbase

Vermont has withdrawn its “show cause order” against Coinbase, following the US Securities and Exchange Commission’s (SEC) recent decision to drop its case against the crypto exchange. The state’s Department of Financial Regulation announced that it would rescind its action "without prejudice." In February, the SEC dropped its lawsuit against Coinbase, which accused the exchange of failing to register as a securities platform. According to Coinbase’s chief legal officer, Paul Grewal, the SEC has agreed “in principle” to dismiss the lawsuit. The regulator had sued Coinbase in June 2023, alleging that it was operating as an unregistered securities exchange, broker, and clearing agency.