Coinbase acquires and its staff |

Coinbase acquires and its staff

Peter Terlato 16 April 2018 NEWS

The acquisition means that the’s token launch has been put “on the back burner” for now.

Digital money exchange Coinbase has secured, a business that allows senders to pay users in cryptocurrency to reply to emails and complete tasks. The acquisition also includes the positioning of Earn’s co-founder and chief executive Balaji Srinivasan as Coinbase’s first ever chief technology officer (CTO).

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 on its acquisition of allows email users to earn money by simply by replying to emails. These funds can be pocketed or easily donated to a charity of your choosing. Senders make payments conditional on the completion of specific tasks. Already, hundreds of thousands of users have earned digital currency by replying to these emails.

Paid messages are often utilized by senders for recruitment, fundraising and marketing purposes. revealed that senders achieve 30-70% response rates within 24 hours of delivery for $1-$10 incentives.

“This is extraordinarily high relative to the typical 1.7% response rates for cold emails,” The Earn team said.

Blockchain technology allows to compensate users globally, even if they don’t have a bank account.

Earn also hosts a search engine to track users via public profiles, provides user lists for extra earning potential, Gmail integration to bounce commercial emails and shareable tasks to outsource work to social media. The company also allows senders to create surveys, digital tasks and multi-stage pipeline distributions.

The acquisition means that the’s token launch has been put “on the back burner” for now.

Balaji Srinivasan

Coinbase says that Srinivasan is considered one of crypto industry’s “few true originalists”. Prior to serving as chief executive at, Balaji was a general partner at Andreessen Horowitz. Before joining a16z, he was the co-founder and CTO of Counsyl, where he won the Wall Street Journal Innovation Award for Medicine and was named to the MIT TR35. Balaji holds a BS, MS, and PhD in electrical engineering and an MS in chemical engineering from Stanford University. He has taught data mining, stats, genomics, and blockchain courses at Stanford, as well as an online MOOC in 2013 which reached more than 250,000 students worldwide.

Last week Coinbase revealed that it is teaming up with Cipher Browser, a free mobile Ethereum wallet and browser, to integrate and merge the app’s features into Coinbase’s own browser product, Toshi. Earlier this month, Coinbase also announced a startup-driven financing platform, Coinbase Ventures.

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