Coinbase Acquires Earn.com, Appoints Founder as CTO

Cryptocurrency Exchange Exchange An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv Read this Term Coinbase has acquired Blockchain Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned). In this sense, blockchain is immune to the manipulation of data, making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamp Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned). In this sense, blockchain is immune to the manipulation of data, making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamp Read this Term-based paid-email ‎service Earn.com, the companies announced on Monday.‎

In addition, Earn.com's co-founder and CEO Balaji Srinivasan will take ‎on the title of the first chief technology officer (CTO) at the San ‎Francisco startup, according to the announcement.‎

It's the fifth acquisition Coinbase has made to date and the second since poaching LinkedIn's ‎mergers and acquisitions boss Emilie Choi.‎

Blockchain-focused media outlets gave different estimates of the acquisition ‎price. Techcrunch said Earn was sold in a deal worth more than $120 ‎million including the total value of cash, cryptocurrency, stock and management earn-outs. ‎Earn has already raised the same value over multiple funding rounds ‎since its founding nearly five years ago. ‎

Founded in 2013, Earn originally was developing chips and hardware for ‎cryptocurrency ‎mining. The startup had rebranded in 2017 from 21.co with the launch of its ‎eponymous paid messaging platform, which allows senders to pay users in cryptocurrency to reply ‎to emails and complete tasks.‎

It has since pivoted to crypto-based ‎messaging technology, which ‎some believe the ultimate goal was to decentralize its network allowing each person to ‎join the ‎project and earn digital currencies for their micro-tasks.‎

Brian Armstrong, Co-Founder and CEO at Coinbase, said: ”We’re going to be doubling down on the Earn ‎business within Coinbase, as they have built a paid email ‎product that is arguably one of the earliest practical ‎blockchain applications to achieve meaningful traction.”‎

Commenting on the new CTO appointment, he added: “As CTO of Coinbase, Balaji will serve an important role as ‎the technological evangelist for the company. Balaji will ‎evangelize for both crypto and for Coinbase, educating the ‎world and recruiting crypto-first talent to the company.‎”