Fred Ehrsam, the co-founder and managing partner of Paradigm, has announced his decision to transition to a less prominent role within the company as he seeks to explore other interests.
“My role at Paradigm will be shifting from Managing Partner to General Partner,” Ehrsam stated.
Co-Founder of Paradigm Commits to Ongoing Industry Involvement
In a post shared on X (formerly Twitter), Ehrsam reiterates that he will maintain his engagement with Paradigm. However, he will distance himself from the day-to-day managerial operations.
“I’ll continue to work with our investing & research teams, work with portfolio companies, and fight for good crypto policy, while focusing less on the day to day management of the firm.”
Ehrsam mentions his commitment to collaborating with Matt Huang, co-founder of Paradigm, and the entire Paradigm team to “keep pushing the frontier of crypto forward.”
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“This change allows me to carve out some time to explore areas of science that are of personal passion for me,” Ehrsam stated.
Paradigm’s Vocal Stance on US Crypto Regulation
Ehrsam recognizes his good fortune in establishing two thriving crypto industry companies:
“After starting Coinbase with Brian, I somehow managed to win the co-founder lottery yet again,” Ehrsam stated.
Meanwhile, Ehrsam affirms that he maintains his confidence in crypto, even as he undergoes a career transition:
“I’ve spent more than a decade on crypto and I am more confident than ever that crypto will be one of the most world-changing technologies of the coming decades.”
On the other hand, Paradigm has been an active commentator on the United States government’s approach to crypto regulations in recent times.
On October 1, BeInCrypto reported that Paradigm accused the US Securities and Exchange Commission (SEC) of exceeding its jurisdiction in its regulation of crypto.
The firm detailed its argument in an amicus brief. This was part of the lawsuit between the SEC and crypto exchange Binance.
“Here, and in other cases, the SEC has acted in excess of its statutory authority,” Paradigm stated.
However, this move comes not long after reports revealed that the CEO of Binance.US, Brian Shroder, also recently departed his position.
Furthermore, on October 13, BeInCrypto reported that Schroder had left the exchange. Binance is currently engaged in an ongoing dispute with the SEC. However, Norman Reed, the Chief Legal Officer, took over his position.
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