Welcome Balaji Srinivasan, Coinbase's new Chief Technology Officer

Cornelia Mascio
Aprile 17, 2018

Founded in 2017, Earn.com allows senders to pay users in digital currency for replying to emails and completing tasks.

Srinivasan will join Coinbase as a senior executive, becoming the company's first chief technology officer, while the rest of the Earn.com team will also join the firm and work to integrate the company's paid messaging platform into Coinbase's infrastructure.

The terms of the transaction weren't disclosed, but Axios reported earlier this month that the companies had discussed a purchase price of more than $100 million.

"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", Coinbase said in its blog post.

According to Brian Armstrong, Balaji will spearhead the company and the industry as a "technological evangelist".

The acquisition was the second announced by Coinbase in April alone.

It's also looking to hire a head of market structure to "develop marketplace improvements such as new order types, liquidity incentive programs, and market safeguards", a recently posted job ad says.

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.

On Friday, it announced a deal to buy mobile app browser and wallet for the Ethereum blockchain called Cipher Browser.

Srinivasan is one of the well known technologists in the crypto arena. Balaji holds a BS, MS, and PhD in Electrical Engineering and an MS in Chemical Engineering from Stanford University. Before joining a16z, he was the cofounder and CTO of Counsyl, where he won the Wall Street Journal Innovation Award for Medicine and was named to the MIT TR35.

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