An exchange Coinbase has bought the Earn.com platform, which awards its users with cryptocurrency for completing tasks. As part of the transaction, the founder and head of the start-up Balaji Srinivasan also received a technical director position. At the moment, there is no official information on the value of the deal, but some sources report that the price is $100 million.
Previously, before the launch of the Earn.com project, which was renamed from 21 Inc., the post of the general partner of the venture fund Andreessen Horowitz was held by Srinivasan, who previously founded the Counsyl startup, which received the Wall Street Journal award for innovative solutions for medicine.
Srinivasan is a graduate and former Stanford professor, who taught data analysis, statistics, genomics and the use of blockchain technology.
It is assumed that the new post and the team that came with him from Earn will help him to spread cryptocurrencies. At the same time, Coinbase claims that they intend to expand the opportunities for the Earn project.
We would like to remind you that Coinbase bought a competitor of its products, namely an Ethereum wallet Cipher Browser and mobile browser. 21 Inc. ranked third in the total number of attracted venture capital investors based on the results of 2017, losing first leading places to Circle and Coinbase.
Well this is terrible news, no wonder I haven't gotten any notifications from them lately. Ugh.