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Coinbase Cryptocurrency Brokerage is poised to make the most important acquisition since close to seven years, according to sources close to the situation.
CoinDesk reports that Coinbase is in talks to acquire Earn.com, a platform that allows users to earn cryptocurrency by answering emails and filling in other microtacs like signing up for parachuting or filling out forms. surveys.
At the present time, Earn.com pays users in Bitcoin, but the company plans to develop its own cryptocurrency, the “Earnable Token”, although it does not plan to hold an initial offer of parts (ICO).
In 2015, Earn.com – formerly known as 21 Inc. – raised $ 116 million as part of a series of fundraisers, setting a record for startups related to the cryptocurrency.
Sources told the publication that Earn.com is currently in talks with several potential buyers in addition to San Francisco-based Coinbase and that the company could go for total compensation to the north of $ 120 million, although some gave figures as low as $ 30 million.
Coinbase has not been active in the mergers and acquisitions (M & A) business for much of its history, but observers have been expecting this to change since former dealer Emilie Choi joined Coinbase earlier this month as vice president.
Choi oversaw more than 40 mergers and acquisitions during his tenure at the professional networking firm, so his hiring immediately sent the rumor crusher.
If it’s executed, the agreement would likely see the CEO of Earn.com, Balaji Srinivasan joining Coinbase, a development that is in keeping with Choi’s declared inclination for “acqhiring.”
Coinbase’s discussions with Earn.com occur as the cryptocurrency industry enters a period of multi-million dollar mergers and acquisitions that could occur with regularity.
As CCN reported, the fintech start-up, backed by Goldman Sachs, recently bought the Poloniex Cryptocurrency Exchange. The terms of the deal have not been made public, but Circle would have paid about $ 400 million for the US currency operator.
Bitstamp based in Europe, one of the oldest cryptocurrency exchanges, is also seen as considering a sale to a group of South Korean investors in an agreement that would also worth $ 400 million .
Coinbase did not immediately respond to a request for comment.
Picture of Coinbase.
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