No, Echo was created when uncle Gary was still the chairman of the SEC. However, I speculate that Echo's Sonar platform for public sales which will be very much similar to the ICOs of 2017 might have been created because the development team might be thinking that it is presently safe to organize public sales under the Donald's regulation.

Echo was created to issue and buy presales legally, Sonar's creation was encouraged by the Donald's deregulation.