Stories

SaveSave story

Coinbase confirms acquisition of Earn.com

CEO Balaji Srinivasan speaks onstage during TechCrunch Disrupt SF 2017. Photo: Steve Jennings/Getty Images for TechCrunch

Coinbase is acquiring Earn.com, a paid inbox service formerly known as 21 inc., with CEO Balaji Srinivasan joining as chief technology officer, confirming Axios's earlier reporting.

Bottom line: Coinbase is gaining a well-known figure in Silicon Valley and digital currencies as its CTO, while Earn.com, which began as a bitcoin mining company in 2013, gains stability as part of a larger company.

Details: The company declined to comment on the deal, but a source tells Axios that total value (cash and stock) returned to Earn.com shareholders is north of the $120 million it raised in total VC money.

Chief evangelist: While Srinivasan's new title is CTO, his role will be more akin to an evangelist for the company and cryptocurrencies in general, though he'll fully be part of Coinbase's leadership team. The company's engineering teams will continue to report to chief product officer Jeremy Henrickson.

Axios 9 hours ago
SaveSave story
Featured

Axios situational awareness

🇰🇵 North Korea to stop nuclear testing — 🇨🇳 U.S. fears Chinese tech war will get worse — 💊 A glimmer of hope on opioids🇸🇾 3 years of Syria strikes

Sign up for Mike Allen's Axios AM.

Khorri Atkinson 1 hour ago
SaveSave story

Generation Z's next battleground: lowering the voting age

Students walking out on the 19th anniversary of Columbine
Tens of thousands participate in the March for Our Lives Rally. Photo: Andrew Lichtenstein/Corbis via Getty Images

Washington, D.C. is on the verge of becoming the first major U.S. city to allow people as young as 16 to vote in local and federal elections, including for president — under a proposal that has gotten support from a majority of the District’s council and the mayor.

Why it matters: Lowering the voting age to 16 from 18 is a direct attempt to capitalize on the post-millennial generation’s brewing political activism and power that have been radically heightened by the country’s increasingly polarized climate.