$1.6 billion bitcoin exchange Coinbase continues its acquisition spree, snapping up another small crypto company


Coinbase CEO Brian
Armstrong

Anthony Harvey /
Stringer


  • Coinbase’s M&A spree continues with the acquisition
    of Earn.com, which the company introduced Monday. 
  • That is the company’s second acquisition announcement
    in per week. 

Coinbase’s acquisition spree continues. 

The $1.6 billion cryptocurrency exchange introduced Monday that it
has acquired Earn.com, a crypto company based by Balaji
Srinivasan, a former normal companion at Andreessen Horowitz.
Srinivasan is becoming a member of Coinbase as its first chief know-how
officer, a weblog submit by the company mentioned.

The information comes only a few days after Coinbase introduced it
acquired Cipher
Browser
, a cryptocurrency pockets company that lets
customers retailer ethereum-based tokens.

It was reported by CoinDesk’s Pete Rizzo in March that Earn.com
was
in talks with Coinbase
. The company, which rebranded on the
finish of 2017 from 21.co, gives a platform that enables customers to
earn cryptocurrency by answering emails.

“We’ll be doubling down on the Earn enterprise inside
Coinbase, as they’ve constructed a paid electronic mail product that’s
arguably one of many earliest sensible blockchain functions to
obtain significant traction,” the company mentioned. 

My colleague Becky Peterson has reported on Coinbase’s
M&A ambitions
Coinbase employed its first
M&A boss in March to steer a brand new push for acquisitions and
partnerships to broaden its alternatives within the booming
market.

Nonetheless, some market observers suppose Coinbase is biting off extra
than it might chew. CoinRoutes founder Dave Wiesberger informed
Enterprise Insider the company ought to focus its sources on
understanding markets, laws, and creating their buying and selling
know-how, which isn’t on the similar stage as extra established
exchanges such because the NYSE or Nasdaq.

“They’ve failed to think about the implications of those
subjects together with understanding institutional wants, together with
how and why darkish swimming pools developed, and the character of of
fragmentation in displayed markets,” Weisberger
mentioned. 

To make sure, Coinbase’s institutional grade exchange, GDAX,
is engaged on extra mature choices equivalent to superior order varieties
and merchandise tied to market knowledge. 

Additionally, it’s seeking to rent a head of market construction to
“develop market enhancements equivalent to new order varieties,
liquidity incentive applications, and market safeguards,” a not too long ago
posted job advert mentioned. 

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