Coinbase Plans To Acquire Rental Startup Omni's Engineering Team
Cryptocurrency exchange Coinbase is said to be in negotiations to absorb Omni's human resources. Omni is a leasing and storage company backed by Ripple.
Coinbase will take advantage of Omni's engineering team to improve its coinbase earn service further this weekend, according to a TechCrunch report. Nonetheless, Coinbase told the news media that no agreement has currently been reached.
The purchase comes amid the rental company's layoffs, which last week let go of seven staff members from operations. The engineering team was also involved in Thumbtack, a professional services marketplace. It is reported that the engineers at Coinbase are already interviewing.
Last year, in a funding round led by Ripple executives Stefan Thomas and Chris Larsen, Omni raised $25 million, and an undisclosed amount of XRP as well. Omni recently planned to launch a brick-and-mortar rental service.
Coinbase Earn customers earn small amounts of cryptocurrency when learning the basics and use cases of specific coins.
Users in more than 100 countries can now earn up to $130 to complete crypto asset classes and quizzes. Coinbase Earn currently lists Dai, EOS, Stellar Lumens (XLM), Zcash, the Basic Attention Token (BAT), and 0x.