Bitcoin’s Coinbase buys, hires key executive

Bitcoin new records

Bitcoin’s digital currency exchange Coinbase is buying, which lets users send and receive digital currency for responding to emails and completing corporate tasks reportedly for $100,00.

As part of the acquisition, Coinbase will bring in Earn’s founder and CEO Balaji Srinivasan as its first chief technology officer, according to Monday’s report.

Before Earn’s establishment, Srinivasan served as the general partner of venture capital firm Andreessen Horowitz.

According to the company, Srinivasan will work as the “technological evangelist” of both the industry and Coinbase in his new position.

“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,” said Coinbase CEO Brian Armstrong in a blog post on Monday.

The deal, according to Recode was offered at more than $100 million, although Coinbase did not disclose the terms.

Coinbase in March poached Linkedin’s Emilie Choi to lead recent acquisitions and partnerships and hired Tina Bhatnagar from Twitter and former Facebook and Twitter communications director Rachel Horowitz. It also brought in former New York Stock Exchange key official Eric Scro in March as its VP of Finance.

Coinbase also disclosed plan to buy Cipher Browser, a mobile app browser and wallet for the Ethereum blockchain.


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