In a letter to its users Coinbase announced today that it plans to shut down Earn.com a platform it acquired in April 2018 for a rumored sum of $100M. Earn.com, formerly known as 21 Inc was launched by a serial entrepreneur Balaji Srinivasan as a platform allowing senders to pay users in digital currency for participating in surveys, replying to emails and completing various tasks such as downloading apps. Srinivisan became Coinbase’s CTO as part of the original acquisition.
If you had an account on Earn.com and have a balance in any cryptocurrency, you should withdraw it. According to Coinbase, you have until February 20th to do so. Here is a full text of the letter:
Hello Earn.com user! Just over a year and a half ago, Earn.com was acquired by Coinbase to further the mission of creating an open financial system. One of the most important results of the acquisition was Coinbase Earn (coinbase.com/earn), which allows users to earn crypto while they learn crypto.
The first Coinbase Earn campaign shipped in December 2018. Since then, Coinbase Earn has allowed nearly a million unique users in 115+ countries to earn their share of hundreds of millions of dollars in crypto from projects like Stellar, EOS, Zcash, Tezos, BAT, DAI, and ZRX.
We’ve been thrilled with the feedback we’ve heard from customers about Coinbase Earn, with more than 80% of users giving it a rating of 9+ on a 10 scale. Because you don’t need a credit card or bank account to engage with Coinbase Earn, we think it will bring millions of new people to crypto.
Over the last year, we’ve launched Coinbase Earn tasks that walk a user through taking out their first decentralized loan with a MakerDao CDP, that connect users with blockchain-focused products like the privacy-preserving Brave browser, and that allow users to participate in staking their assets to earn rewards on the Tezos blockchain. And in 2020, we will be scaling Coinbase Earn even further by adding more campaigns to the platform, to connect more blockchain networks with engaged crypto users.
Now that Earn.com has fully integrated with Coinbase, we’ll be sunsetting Earn.com to focus exclusively on Coinbase Earn. Until February 20, 2020, you can log in to Earn.com to withdraw your balance in Bitcoin, and sign up to be notified of future cryptocurrency-paid Earn tasks on Coinbase. After February 20, 2020, you will need to contact Coinbase Support to obtain your Earn.com balance.
If you haven’t tried Coinbase Earn yet, check it out at coinbase.com/earn. We look forward to continue building the future of blockchain with you as we bring cryptocurrency to a billion people!
The Coinbase Earn / Earn.com Team
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