FRED Ehrsam co-founded Coinbase with Brian Armstrong in 2012.
But what is the story behind Ehrsam and what is his net worth?
Who is Fred Ehrsam?
Fred Ehrsam was born on May 10, 1988 in Boston, and grew up in Concord, Massachusetts.
In 2010, he graduated from Duke University with a BS in computer science and went on to work as a foreign exchange trader at Goldman Sachs in New York.
He first learned about Bitcoin from a Georgetown University professor’s paper, and started trading in his free time.
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In 2012, Fred Ehrsam and Brian Armstrong co-founded Coinbase in an apartment in San Francisco after meeting on the Bitcoin Reddit forum.
The pair wanted to create a trading platform that allowed cryptocurrency enthusiasts to trade Bitcoin and other digital currencies.
In January 2017, Ehrsam announced he was leaving Coinbase, but would remain on its board.
In 2018, Ehrsam then co-founded cryptocurrency investment firm Paradigm with former Sequoia Capital investor Matt Huang.
The pair raised $2.5 billion to invest in cryptocurrency and Web3 ventures.
In 2019, the pair invested in tBTC Network, a protocol for tokenizing BTC on Ethereum, Tendermint Inc., the core development team behind the blockchain project Cosmos, and Uniswap, the popular Ethereum token swap protocol.
In 2022, as the cryptocurrency market dipped, Ehrsam used it as an opportunity to purchased more than one million shares of Coinbase worth roughly $75 million.
What is Fred Ehrsam’s net worth?
Fred Ehrsam has a net worth of $1.1 billion, mainly from his 6 per cent share in Coinbase and shares in Paradigm which has more than $1 billion in assets.
When Coinbase reached a valuation of $112 billion in 2021, Fred Ehrsam’s net worth peaked at just over $10 billion.
