Fred Ehrsam

{{Short description|Coinbase co-founder and cryptocurrency entrepreneur}}

{{Infobox person

| name = Fred Ehrsam

| image = File:F Ehrsam.jpg

| alt =

| birth_name = Frederick Ernest Ehrsam III

| birth_date = {{birth date and age|1988|5|10}}

| birth_place = Boston, Massachusetts

| nationality =

| education = Duke University

| alma_mater =

| occupation =

| known for = Coinbase
Paradigm

| years_active =

| spouse =

| parents =

| website = [http://www.fredehrsam.org www.fredehrsam.org]

}}

Frederick "Fred" Ernest Ehrsam III{{Cite news|last=Neghaiwi|first=Steve Stecklow, Anna Irrera, Brenna Hughes|date=2017-12-01|title=Exclusive: Tezos founders push for legal bailout from Swiss foundation|language=en|work=Reuters|url=https://www.reuters.com/article/us-bitcoin-tezos-lawsuits-exclusive-idUSKBN1DV4K0|url-status=live|access-date=2018-07-30|archive-url=https://web.archive.org/web/20190816225507/https://www.reuters.com/article/us-bitcoin-tezos-lawsuits-exclusive/exclusive-tezos-founders-push-for-legal-bailout-from-swiss-foundation-idUSKBN1DV4K0|archive-date=2019-08-16}} is an American businessman, and the co-founder of cryptocurrency exchange Coinbase{{cite web|url=https://www.forbes.com/profile/fred-ehrsam/?sh=5bfa4983677d |title=#1664 Fred Ehrsam |website=Forbes |date= |access-date=April 13, 2021}} and the venture investment firm Paradigm.

Education and early life

Ehrsam was born on May 10, 1988, in Boston, growing up in Concord, Massachusetts.{{cite web|url=https://www.forbes.com/sites/kathryndill/2014/06/18/30-under-30-futures-market/ |title=30 Under 30: Futures Market |website=Forbes |date=June 30, 2014 |access-date=April 13, 2021}} 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.{{cite web|url=

https://www.japantimes.co.jp/news/2021/03/01/business/tech/coinbase-bitcoin-control/ |title=Coinbase mafia shows how tight a circle holds sway over Bitcoin |website=Japan Times |date=March 1, 2021|access-date=April 13, 2021}}

In 2010, Ehrsam graduated with distinction from Duke University, earning a B.S. in computer science with a minor in economics.{{Cite web|last=Becker|first=Charles|date=2018-10-28|title="The downfall of Durham's historic Hayti: Propagated or preempted by urban renewal?"|url=https://sites.duke.edu/djepapers/files/2016/10/Ehrsam-Fred_DJE.pdf|url-status=live|archive-url=https://web.archive.org/web/20181028055330/https://sites.duke.edu/djepapers/files/2016/10/Ehrsam-Fred_DJE.pdf|archive-date=2018-10-28|access-date=2018-07-29|website=Duke University}} At Duke, he was a member of the Sigma Alpha Epsilon fraternity.SAE Alumni Directory. Evanston, IL: Sigma Alpha Epsilon Fraternity. 2018.{{Cite web |title=Fred Ehrsam, Paradigm Operations LP: Profile and Biography |url=https://www.bloomberg.com/profile/person/17423868 |access-date=2023-04-08 |website=Bloomberg.com |language=en}}

Career

After graduating from Duke, Ehrsam became a foreign exchange trader at the investment bank Goldman Sachs in New York City.{{Cite web|title=BrokerCheck - Find a broker, investment or financial advisor|url=https://brokercheck.finra.org/individual/summary/5824489|access-date=2018-07-30|website=brokercheck.finra.org}} He learned about Bitcoin from a Georgetown University professor's paper, and began trading in his free time.

=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.{{cite web|url=https://fortune.com/2017/01/21/bitcoin-ethereum-coinbase-cofounder-fred-ehrsam-exit-interview/ |title=Why Coinbase's Cofounder Is Moving On |website=Fortune |date=January 21, 2017 |access-date=April 13, 2021}} The two met on the Bitcoin subreddit forum. Ehrsam served as Coinbase's first President.{{cite web|url=https://www.wsj.com/articles/coinbase-independent-directors-have-close-company-ties-11617620400 |title=Coinbase Independent Directors Have Close Company Ties |website=Wall Street Journal |date=April 5, 2021 |access-date=April 13, 2021}} In January 2017, he announced he was leaving the company, but would remain on its board. 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.

=Paradigm=

In 2018, Ehrsam co-founded cryptocurrency investment firm Paradigm with former Sequoia Capital investor Matt Huang.{{cite web|url= https://www.forbes.com/sites/alexkonrad/2020/10/18/these-young-investors-betting-big-on-crypto-are-taking-harvard-and-stanford-along-for-the-ride/|title=These Young Investors Betting Big On Crypto Are Taking Harvard And Stanford Along For The Ride |website=Forbes |date=October 18, 2020 |access-date=April 13, 2021}} They founded the company to invest in cryptocurrencies and the companies that focus on that market, and became the firm's managing partners.{{cite web|url= https://www.wsj.com/articles/fidelity-square-coinbase-launch-bitcoin-trade-group-11617710402|title=Fidelity, Square, Coinbase Launch Bitcoin Trade Group |website=Wall Street Journal |date=April 6, 2021 |access-date=April 13, 2021}}{{cite web|url=https://www.bloomberg.com/profile/person/17423868|title=Fred Ehrsam |website=Bloomberg |date= |access-date=April 13, 2021}}

In October, 2023, Ehrsam stepped down from his managing partner role at Paradigm and announced he will continue to act as a general partner.{{Cite news |date=2023-10-24 |title=Paradigm's Fred Ehrsam Steps Back From Crypto-Focused VC Firm |language=en |work=Bloomberg.com |url=https://www.bloomberg.com/news/articles/2023-10-24/paradigm-s-ehrsam-relinquishes-managing-partner-role-at-crypto-focused-vc-firm |access-date=2023-10-24}}

Recognition

2013 – Ehrsam was named to TIME Magazine's list of 30 People Under 30 Changing the World{{cite web|url=https://ideas.time.com/2013/12/06/these-are-the-30-people-under-30-changing-the-world/slide/fred-ehrsam/|title=These Are the 30 People Under 30 Changing the World: Fred Ehrsam|website=Bloomberg |date=December 5, 2013|access-date=April 13, 2021}}
2014 – Ehrsam was named to Forbes' 30 under 30 list at age 25