Coinbase to Shut Down Earn.com and Focus on Coinbase Earn

Francisco Memoria

San Francisco-based cryptocurrency Exchange Coinbase has announced via email it’ll be shutting down Earn.com to focus on its Coinbase Earn program, which rewards users for learning about cryptocurrencies.

As first reported by The Block, Coinbase emailed its customers informing them it will be “sunsetting Earn.com to focus exclusively on Coinbase Earn.” The cryptocurrency exchanged notably acquired Earn.com in April of last year for $100 million.

The move, according to some, was a way to get to the platform’s co-founder Balaji Srinivasan, who served as a CTO at Coinbase after the acquisition. Earn.com was launched in 2013 and was originally developing chips and hardware for crypto mining. It soon started switching to a paid emailing platform allowing senders to pay users in crypto to reply to emails and complete tasks.

Coinbase Earn is a platform the cryptocurrency exchange launched last year that rewards users with cryptocurrencies for learning about them. So far, it has rewarded users with BAT, EOS, DAI, Stellar, 0x, and more.

In the email, Coinbase noted it’ll be focusing on Coinbase Earn and adding new campaigns to it.

[Coinbase will start] scaling Coinbase Earn even further by adding more campaigns to the platform, to connect more blockchain networks with engaged crypto users.

So far, Coinbase Earn has reportedly “allowed nearly a million unique users in 115+ countries to earn their share of hundreds of millions of dollars in crypto.” The exchange’s announcement noted that Earn.com users have to withdraw their funds February 20, 2020.

Featured image via Pixabay.