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The popular cryptocurrency exchange Coinbase announced Monday it was buying Earn.com for a reported $120 million. SCROLL DOWN FOR MORE
Earn.com was formerly known as 21 Inc. 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, according to CoinDesk.com.
On Friday, Coinbase acquired the cryptocurrency wallet Cipher Browser.
Earn's co-founder and CEO Balaji Srinivasan will stay on as chief technology officer.
"Balaji has become one of the most respected technologists in the crypto field and is considered one of the technology industry's few true originalists," Coinbase CEO Brian Armstrong said in a blog post Monday.
The Coinbase exchange allows one to buy and sell a handful of popular cryptocurrencies and convert them to U.S. dollars using a linked bank account. The exchange currently offers a platform for bitcoin, bitcoin cash, ethereum and litecoin. One can also link their personal cryptocurrency wallets to the Coinbase exchange.
- Aaron Goldstein, Gambling911.com
