“If you’re in Bitcoin, well you know that there are a lot of problems with the Fed, and it’s unaccountability and printing all the money and so on. But, how can you be anti-Fed, but pro the regulatory state, pro-SEC… it’s the same freaking animal.” — Balaji Srinivasan
Location: San Francisco
Date: Tuesday, 3rd September
Role: Angel Investor & Entrepreneur
A little over a year ago Coinbase announced the acquisition of Earn.com in a $120 million deal. Earn.com allows users to earn cryptocurrency by replying to emails or completing tasks.
As a vital part of the acquisition, Balaji Srinivasan the CEO and Co-founder moved into the role of CTO at Coinbase where he oversaw the integration of Earn.com into the exchange and the launch of the Coinbase Earn. This allowed users to learn about, answer questions and be rewarded in cryptocurrency (closing +$300M in deals worth of crypto to distribute).
After a year as Coinbase CTO, Balaji departed the company. A year where they managed to raise $300m, at a $7.7bn valuation, navigate a brutal bear market and build out an entirely new infrastructure to support multiple crypto assets.
So, what was life like at Coinbase for Balaji?
Coinbase has often felt the wrath of Bitcoiners, many arguing that they were on the wrong side of history regarding the New York Agreement. With the delay in implementing Segwit and supporting other contentious forks, is the negative opinion of Coinbase by Bitcoiners fair?
In Part 2 of my interview with Balaji, we explore the world of Bitcoin, altcoins and Coinbase. I ask him whether it is irresponsible for Coinbase, an entry-level Bitcoin onramp, to list an ever-growing list of altcoins? Does the earn.com integration encourage risky token investments? And, does Coinbase hate Bitcoin?
Balaji Srinivasan joined me in San Francisco to discuss this and lots more. As well as:
The Earn.com acquisition
Whether daily active users is a flawed metric for cryptocurrency
ICO’s, scams and founders dumping on retail investors
Whether Earn.com should be teaching risk management
The lack of adoption for many cryptocurrencies
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