Welcome Balaji Srinivasan, Coinbase's new Chief Technology Officer - The Coinbase Blog
San Francisco-based cryptocurrency exchange Coinbase has not been resting on its laurels of late, and has announced the acquisition of Earn.com in a $120 million deal on Tuesday.
Before running Earn, which lets users send and receive digital currency for replying to emails and completing tasks, Srinivasan was a general partner at venture capital firm Andreessen Horowitz. For existing users and senders, operations will continue as usual in the short-term. Earlier in 2015, Earn received $310 million in funding, according to PitchBook.
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.". At the same time, he said that Mr Balaji will be the "technological evangelist" for the company.
Business Insider's Becky Peterson has reported on the mergers-and-acquisitions ambitions of Coinbase, which hired its first M&A boss in March to lead a new push for acquisitions and partnerships to expand its opportunities in the booming market.
A statement published on Monday 16th April states that Coinbase, one of the leading cryptocurrency exchanges in the world, made the announcement that it has just acquired one of the Bitcoin's best-funded startups.
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The founder of CoinRoutes, Dave Weisberger, told Business Insider that Coinbase should focus its resources on understanding markets and regulations and developing its trading technology, which is not at the same level as more established exchanges like the New York Stock Exchange or the Nasdaq.
Incidentally, Coinbase has recently announced a deal with Cipher Browser, which it purchased in full. He has BS, MS and PhD in Electrical Engineering and MS in Chemical Engineering.
Founded in 2013 under the name of 21 Inc., the company originally worked on chips and hardware for cryptocurrency mining that could be implemented into various "internet of things" devices, such as the now infamous bitcoin toaster.
Brain Armstrong, the CEO of Coinbase said "In addition to welcoming Balaji, we're also very pleased to welcome the Earn.com team to Coinbase". Srinivas has won the prestigious Wall Street Journal Innovation Award for Medicine.
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