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      "author": "nothan",
      "body": "### Coinbase is on a shopping spree\n\n<b>Coinbase has gone on a shopping spree by acquiring its fellow cryptocurrency startup earn.com, one of the best funded startup of the industry.</b>\n\n![wordmark.png](https://steemitimages.com/DQmZ5G6K8qKAw4og34D1hQTmzDdSx1mSrBeK9UyWMq38r3p/wordmark.png)\n\nA statement released on Monday confirms a previous CoinDesk report in which sources said that Coinbase and other potential buyers were in talks to acquire Earn.com which was formerly known as 21 Inc.\n\n21 Inc previously ran a bitcoin mining operation and was backed by major Silicon Valley investors to the tune of $116 million raised over multiple funding rounds. The firm rebranded to Earn.com last October in a pivot that saw it launch a social network aimed at incentivizing users to complete tasks in exchange for cryptocurrency rewards.\n\nThe terms of the deal were not disclosed but according to TechCrunch, the investors of Earn.com were provided with a positive return on their investment therefore the total compensation package will likely exceed <b>$120 million</b>.\n\n<b>The startup quoted : </b>\n\n*\"Earn has built a paid email product that is arguably one of the earliest practical blockchain applications to achieve meaningful traction. We will keep Earn's business running because it's showing a lot of promise and potential.\"*\n\n\nAs part of the acquisition deal, Balaji Srinivasan, CEO of Earn.com will be joining coinbase as its first Chief Technical Officer. Prior to leading Earn.com, Srinivasan was a partner at Andreessen Horowitz, and he is Coinbase’s most high-profile “acqhire” to date.\n\nThe deal was Coinbase’s second acquisition in as many business days. On Friday, the company announced that it had purchased Cipher Browser, a mobile Ethereum wallet that also allows users to access decentralized applications (DApps).\n\nIt will be interested to see where coinbase is heading while launching <b>Coinbase Ventures</b> to fund new cryptocurrency startups with seed money and acquiring Earn.com and mobile wallet. \nAnother positive step towards crypto dominance.",
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