Coinbase Acquires Echo for $375M

️ On today's Top Picks:

Crypto News

• ⭐️ Coinbase $COIN acquires Echo, Cobie's onchain capital raising platform, for ~$375M; Echo to remain a standalone platform under its current brand for now.

• Coinbase $COIN buys Cobie's Up Only NFT for $25M; Cobie & Ledger Status to make 8 episodes of Up Only TV.

• ⭐️ Péter Szilágyi, former lead developer at the Ethereum $ETH Foundation, reveals letter that he sent to EF leadership last year; criticizes Ethereum co-founder Vitalik Buterin's influence over the ecosystem.

• VanEck files S-1 with US SEC for Lido $LDO Staked Ethereum $ETH ETF; would hold $stETH, ETH staked on Lido.

• ⭐️ Anatoly Yakovenko, Solana $SOL cofounder, is building Percolator, a new perp DEX on Solana according to his GitHub.

• Gemini launches Solana $SOL credit card; offers up to 4% back in SOL rewards on every purchase.

• Digital Asset Investment Products saw ~$513M in outflows last week; Bitcoin $BTC ~$946M outflows, Ethereum $ETH ~$205M inflows, Solana $SOL ~$156M inflows, Ripple $XRP ~$73.9M inflows.

• Japan FSA considers allowing banks to buy & sell crypto; also considers allowing banks to register as crypto exchanges.

• Canadian province British Columbia proposes legislation to ban new crypto mining projects; new electricity allocation framework to prioritize sectors such as mining, natural gas, & LNG.

• Farcaster launches new Farcaster brand; features new logo, wordmark, typography, colors, & brand elements; by Primary Studio

Alpha

• Base launches new Base Guild on Guild Era; join to claim new roles & rewards.

• Rainbow launches new collectible app icon; app icons to potentially be a criteria/multiplier for upcoming $RNBW airdrop.

• Glider launches 7x Beta points multiplier; points balance to multiply by 7x on launch day; earn 1 point per dollar per day.

• Pacifica announces Pacifins, a series of limited soulbound NFTs; to be rewarded to active participants in our ongoing bootcamps, competitions, & community activities.

• Gas[.]zip launches Gas Sweep feature; consolidate dust across 55+ chains.

Airdrops

• Airdrops, Checkers, & Points by Olimpio.

• ICYMI OpenSea to launch $SEA TGE & airdrop in Q1 2026; 50% of token supply is allocated to the community.

• ICYMI Monad launches $MON airdrop claim (registration) portal; 5.5K community members & 220K onchain users are eligible; closes on November 3rd.

• ICYMI Echo users who have invested in at least 1 deal are eligible for the Monad $MON airdrop; Monad airdrop registration closes on November 3rd.

• ICYMI Meteora launches $MET airdrop eligibility & allocation checker; Meteora Points holders, Jupiter $JUP stakers, & more are eligible; claim on October 23rd.

• ICYMI Airdrops, Checkers, & Points (October 13th) by Olimpio.

Finance News

• President Trump says he expects to work out a fair deal with China's President Xi; scheduled to meet with Xi on October 31st in South Korea.

• ⭐️ Chinese companies $BABA $JD pause stablecoin plans after regulators instructed them not to move ahead; governor of the PBoC urges a slower rollout of stablecoins, warning of fraud & instability risks.

• SpaceX transfers 2,495 Bitcoin $BTC (~$270M) to two unmarked addresses; potentially internal wallet shuffle.

• Strategy $MSTR buys an additional 168 Bitcoin $BTC for ~$18.8M at ~$112,051 per BTC; now holds 640,418 BTC (~$68.9B) acquired for ~$47.40B at ~$74,010 per BTC.

• Bitmine $BMNR buys an additional 203,826 Ethereum $ETH (~$788M); now holds 3,236,014 ETH (~$12.5B) acquired at ~$4,022 per ETH.

• Solana Company $HSDT moves forward with scheduled registration for resale of shares purchased by investors in recent $500M PIPE; HSDT currently holds ~2.2M Solana $SOL (~$409M).

• Evernorth to go public via merger with Armada Acquisition $AACIU; to raise $1B for Ripple $XRP treasury; deal expected to close in early 2026.

• Greenlane Holdings $GNLN raises $110M via private placement for Berachain $BERA treasury; financing led by Polychain Capital.

• Key Events This Week by The Kobeissi Letter.

Security and Exploits

• Amazon $AMZN Web Services (AWS) suffers outage; crippled large parts of the internet including several crypto projects; Amazon has not yet shared the specific cause of the outage.

• NSO Group, a cyberintelligence company, blocked from targeting WhatsApp; NSO Group to pay Meta $META $4M.

• Europol dismantles SIM farm with Operation SIMCARTEL; carried out 26 searches, resulting in 7 arrests & the seizure of 1,200 SIM box devices containing 40K active SIM cards.

• ⭐️ Binance $BNB bans over 600 accounts for using unauthorized third-party tools; encourages users to report fraudulent accounts, offers up to 50% of recovered earnings as a reward.

• Astra Nova $RVV exploited for ~$10M due to compromised market maker wallet; launches bounty program to recover funds;

• Ripple $XRP holder loses 1.2M XRP (~$3.05M) due to compromised wallet; funds have since been laundered via OTC networks tied to Huione.

• Sharwa Finance exploited for ~$146K; has since recovered $40K; team to cover losses.

• X Phishing Account Takeovers by Security Alliance.

Token Unlocks

• LayerZero $ZRO / ~$44M / OCT 20th
• Kaito $KAITO / ~$9M / OCT 20th
• Scroll $SCR / ~$13M / OCT 22nd
Sourced from Tokenomist

Funding

• Limitless raises $10M in Seed funding led by 1confirmation.

• Open Campus raises $5M in Strategic funding from several investors.

• Honeypot Finance raises an undisclosed amount in funding led by Mask Network, CatcherVC, & Credit Scend.

The Degen Farmer