American department store chain Bealls announces support for cryptocurrency payments

PANews reported on October 22nd that according to The Block, DeFi lending protocol Aave has partnered with on-chain asset manager Maple to introduce its yield-generating, institutional-grade assets as new collateral. Aave will initially deploy Maple's syrupUSDT on its Plasma instances, with subsequent expansion to core markets. Aave currently has approximately 1,000 daily borrowers and approximately $25 billion in outstanding loans on Ethereum, representing 82% of the network's outstanding debt. Maple previously partnered with Lido to launch a stablecoin line of credit backed by staked ETH.

PANews reported on October 22nd that at the ETHShanghai 2025 main forum, Xiao Feng, Vice Chairman and Executive Director of Wanxiang Holdings, Chairman of Wanxiang Blockchain, and Chairman and CEO of HashKey Group, stated that blockchains can be broadly divided into two categories. One, represented by Bitcoin, is primarily a currency issuance system that achieves high-speed calculations through simple mathematical formulas and prohibits complex external deployment, allowing for rapid global consensus, hence its esteemed status as "digital gold." The other, represented by Ethereum, is application-centric and has gradually developed along the lines of the original white paper, currently holding 60%-70% of the application market share. Xiao Feng noted that there is no need to attempt to replace Ethereum, as it has a first-mover advantage and is continuously improving. Other blockchain projects need to demonstrate that their strategic positioning differs from Ethereum and that they offer differentiated value, making the possibility of challenging Ethereum very low. Xiao Feng also emphasized that the development of DeFi cannot be ignored, but it needs to take into account KYC and anti-money laundering requirements, as its philosophy differs from traditional finance. Through zero-knowledge identity authentication (ZK ID), users can verify their identity as qualified investors using information such as certificates, proof, and work experience, allowing them to trade securely around the world, allowing decentralized finance to better serve the global financial system.

Coinbase has announced that it is acquiring Echo, an investment platform that is built on blockchain, at approximately $375M. This marks Coinbase’s eighth acquisition of 2025 and twelfth overall. The deal highlights the exchange giant’s commitment to democratizing access to early-stage crypto investing while enhancing its Base ecosystem. Partnership to Full Ownership Coinbase Ventures was awarded the position of Group Lead on the platform in March 2025. The collaboration focused on extending funding opportunities for projects based on Base, Coinbase’s Layer-2 network. Coinbase Ventures invested in over 40 projects, including Aerodrome, Morpho, and Blackbird. Echo was launched in March 2024 by crypto thought leader Jordan Fish (known as “Cobie”) with the goal of democratizing early-stage blockchain financing. The platform allows accredited and qualified investors to construct web3 projects through transparent, on-chain transactions. This approach contrasts with traditional venture capital, where only wealthy investors obtain access to promising startups. The acquisition provides Coinbase with complete control over a platform that has facilitated fundraising for over 30 crypto projects, such as Ethena, Morph, Usual, and MegaETH. MegaETH completed two separates $10M raises through Echo in December 2024, with a round closing in just 56 seconds. Breaking Down Traditional Barriers in Crypto Funding The traditional venture capital approach in cryptocurrency has been chastised for providing exclusive access to privileged insiders who obtain early token allocations at significant discounts. These insiders often distribute their tokens to high-priced retail investors. Echo’s community-driven model reaffirms this trend since smart contracts are used to effectively manage funds. Shan Aggarwal, the Vice President of Corporate and Business Development for Coinbase, stated that on-chain investing is possible to engage accredited and qualified investors in a manner that it was previously not capable of doing. Jesse Pollak, the Head of Base and Coinbase Wallet, stated that it allows more dynamic capital base to founders. Through Web3, these collaborative efforts have been implemented in a similar way. The Coinbase-Echo merger is an example of strategic alliances that can increase the value of the customers and the developers. Empowering the Base Ecosystem and Industry Impact The purchase follows the Base network of Coinbase becoming the most successful Layer-2 solution of Ethereum in a range of significant aspects. With Echo’s integration, Coinbase will have the opportunity to distribute funds to Base builders, as well as provide community members with direct investment opportunities in network-shaping projects. The $375M price is based on Echo’s history of success and strategic significance of Coinbase in utilizing on-chain capital formation infrastructure. Echo has raised more than $100M within a year, which shows strong product-market presence and willingness to have advantageous opportunities to invest in cryptocurrencies. This transaction is at forefront of transparent blockchain-based fundraising, which overcomes information asymmetry and improves traditional venture financing. The deal also highlights how Coinbase plans to pursue an active M&A strategy in 2025, which indicates that it is the eighth deal of the year and shows that the company is optimistic about the future of crypto. Conclusion The acquisition of Echo by Coinbase of $375M signifies the breakthrough in fundraising of cryptocurrencies. The deal will merge Coinbase regulatory expertise and Base ecosystem with Echo’s democratized investing platform to create infrastructure that will transform early-stage crypto finance. The Base network is expanding, and it is focusing on transparent capital deployment techniques that are becoming essential for the long-term growth of the industry.