The US-based crypto-exchange has announced the takeover of Earn.com, formerly known as 21 Inc. This is one of the most financed blockchain startups in the crypto market history. Coinbase intends to keep the company's achievements and integrate them into its own products.

Coinbase , San Francisco-based cryptocurrency exchange, bought Earn.com for $120 million. According to Coinbase, the deal will be paid partly in cash, Coinbase shares and cryptocurrencies. Balaji Srinivasan, Co-founder and Chief Executive Officer of Earn,  will take the post of Chief Technical Officer at Coinbase.

Earn.com was previously known as 21 Inc and was engaged in bitcoin mining industry. In 2015, the team released a 21 Bitcoin Computer crypto-device, which included a mining chip, a data center and a Linux-based operating system.

In February 2017, 21 Inc took the first steps towards creating a fundamentally new e-mail system and raised $116 million from large investors from the Silicon Valley. In October 2017, the company was renamed Earn.com and launched a crypto-social network and an email platform. Its users can earn digital money by answering emails. In turn, senders of commercial newsletters, using Earn.com, pay users, encouraging them to respond to messages.

Coinbase is going to fully integrate the e-mail blockchain-based system into its products and increase the level of funding to expand the capabilities of Earn.сom.

"We’re going to be doubling down on the Earn business within Coinbase, as they have built a paid email product that is arguably one of the earliest practical blockchain applications to achieve meaningful traction," Coinbase CEO Brian Armstrong wrote in his blog.

Balaji Srinivasan was previously the general partner of the venture fund Andreessen Horowitz, and he also founded the startup Counsyl, which won the Wall Street Journal award for innovations in medicine. As a technical director, he will improve the basic product of Coinbase, and will also take part in hiring new cryptocurrency talents.