Frederick "Fred" Ernest Ehrsam III,[1] is an American business executive and investor who is the co-founder and managing partner of cryptocurrency investment firm Paradigm. He is also the co-founder of cryptocurrency exchange Coinbase.[2]
Fred Ehrsam | |
---|---|
Born | Frederick Ernest Ehrsam III 1988 |
Education | Duke University |
Occupation | Co-founder and managing partner of Paradigm |
Known for | Executive, entrepreneur, co-founder of Coinbase |
Website | www.fredehrsam.org |
Education and early life
Ehrsam was born in 1988 Boston, growing up in Concord, Massachusetts.[3][4] He played video games professionally in high school, and was an avid World of Warcraft player, which introduced him to the concept of in-game digital currencies.[5][2]
In 2010, Ehrsam graduated with distinction from Duke University,[5] earning a B.S. in computer science with a minor in economics.[6] At Duke, he was a member of the Sigma Alpha Epsilon fraternity.[7]
Career
After graduating from Duke, Ehrsam became a foreign exchange trader at investment bank Goldman Sachs in New York.[2][8] He learned about Bitcoin from a Georgetown University professor's paper, and began trading in his free time.[5]
Coinbase
In 2012, Ehrsam and Brian Armstrong co-founded Coinbase in an apartment in San Francisco, as a way for cryptocurrency enthusiasts to trade bitcoins and other digital currencies.[9][5] The two met on the Bitcoin subreddit forum.[5] Ehrsam served as Coinbase's first President.[10] Ehrsam reportedly reached out to his alma mater Duke to invest in Coinbase's 2015 Series C, an investment which reportedly increased Duke's investment by 100 times.[11] In January 2017, he announced he was leaving the company, but would remain on its board.[9] He also reportedly still owned 8.9% of Coinbase stock, as of April 2021, and was assigned to the company's audit committee before its April 2021 public offering.[10]
Paradigm
In 2018, Ehrsam co-founded cryptocurrency investment firm Paradigm with former Sequoia Capital investor Matt Huang.[12] They founded the company to invest in cryptocurrencies and the companies that focus on that market, and became the firm's managing partners.[13][14] As of October 2020, the company had made 28 investments in cryptocurrency related companies.[12]
Recognition
References
- ^ Neghaiwi, Steve Stecklow, Anna Irrera, Brenna Hughes (2017-12-01). "Exclusive: Tezos founders push for legal bailout from Swiss foundation". Reuters. Archived from the original on 2019-08-16. Retrieved 2018-07-30.
- ^ a b c "#1664 Fred Ehrsam". Forbes. Retrieved April 13, 2021.
- ^ "Bitcoin's Blue Chip". Forbes. November 30, 2016. Retrieved April 13, 2021.
- ^ a b "30 Under 30: Futures Market". Forbes. June 30, 2014. Retrieved April 13, 2021.
- ^ a b c d e "Coinbase mafia shows how tight a circle holds sway over Bitcoin". Japan Times. March 1, 2021. Retrieved April 13, 2021.
- ^ Becker, Charles (2018-10-28). ""The downfall of Durham's historic Hayti: Propagated or preempted by urban renewal?"" (PDF). Duke University. Archived (PDF) from the original on 2018-10-28. Retrieved 2018-07-29.
- ^ SAE Alumni Directory. Evanston, IL: Sigma Alpha Epsilon Fraternity. 2018.
- ^ "BrokerCheck - Find a broker, investment or financial advisor". brokercheck.finra.org. Retrieved 2018-07-30.
- ^ a b "Why Coinbase's Cofounder Is Moving On". Fortune. January 21, 2017. Retrieved April 13, 2021.
- ^ a b "Coinbase Independent Directors Have Close Company Ties". Wall Street Journal. April 5, 2021. Retrieved April 13, 2021.
- ^ "Duke University's Early Coinbase Investment Could Now Be Worth $500M: Sources". Yahoo Money. March 26, 2021. Retrieved April 13, 2021.
- ^ a b "These Young Investors Betting Big On Crypto Are Taking Harvard And Stanford Along For The Ride". Forbes. October 18, 2020. Retrieved April 13, 2021.
- ^ "Fidelity, Square, Coinbase Launch Bitcoin Trade Group". Wall Street Journal. April 6, 2021. Retrieved April 13, 2021.
- ^ "Fred Ehrsam". Bloomberg. Retrieved April 13, 2021.
- ^ "These Are the 30 People Under 30 Changing the World: Fred Ehrsam". Bloomberg. December 5, 2013. Retrieved April 13, 2021.