Fred Ehrsam

Fred Ehrsam
Born
Frederick Ernest Ehrsam III

(1988-05-10) May 10, 1988
Boston, Massachusetts, US
Alma materDuke University (BS)
Occupations
  • Entrepreneur
  • investor
Known forCo-founding Coinbase and Paradigm
Title
  • Co-founder and CEO of Nudge
  • Co-founder and general partner of Paradigm
  • Co-founder of Coinbase
Websitewww.fredehrsam.org

Frederick "Fred" Ernest Ehrsam III (born May 10, 1988) is an American entrepreneur and investor. He is the co-founder of cryptocurrency exchange Coinbase, the co-founder and general partner of the crypto-focused venture capital firm Paradigm, and the co-founder and CEO of Nudge, a neurotechnology startup developing non-invasive brain–computer interfaces.[1][2]

Early life and education

Ehrsam was born on May 10, 1988, in Boston, and grew up in Concord, Massachusetts.[3] He attended Concord-Carlisle High School.[4] During high school, he became an avid player of World of Warcraft, playing the game on a competitive level and spending thousands of hours exploring its in-game economy. This experience introduced him to the concept of digital currencies, as the game featured its own virtual gold economy driven by player supply and demand.[5][2]

In 2010, Ehrsam graduated with distinction from Duke University, earning a Bachelor of Science in computer science with a minor in economics.[5][6] At Duke, he was a member of the Sigma Alpha Epsilon fraternity.[7]

Career

Goldman Sachs

After graduating from Duke, Ehrsam joined Goldman Sachs in New York City as a foreign exchange trader, a position he held from 2010 to 2012.[2][8] During his tenure there, he discovered Bitcoin through a paper written by a Georgetown University professor, and he began trading the cryptocurrency in his spare time. He purchased his first Bitcoin in 2011.[5]

Coinbase

Main article: Coinbase

In 2012, Ehrsam and Brian Armstrong co-founded Coinbase in an apartment in San Francisco. The two had met through the Bitcoin subreddit forum on Reddit.[5] Ehrsam served as Coinbase's first president, overseeing the company's growth from a simple platform for buying and selling Bitcoin into one of the largest cryptocurrency exchanges in the United States.[9][5]

In January 2017, Ehrsam announced that he was stepping down from his day-to-day role at Coinbase, though he remained on its board of directors.[9] In April 2021, Coinbase went public via a direct listing on the Nasdaq stock exchange.[10] As of that date, Ehrsam reportedly still held approximately 8.9% of Coinbase stock and was assigned to the company's audit committee ahead of the offering.[11] He continues to serve on the Coinbase board as a director.[12]

Paradigm

Main article: Paradigm Operations

In 2018, Ehrsam co-founded Paradigm, a research-driven cryptocurrency investment firm, with Matt Huang, a former partner at Sequoia Capital.[13] The firm was established to invest in cryptocurrencies, tokens, and companies building on blockchain technology. Ehrsam and Huang served as the firm's co-managing partners.[14]

In November 2021, Paradigm closed a $2.5 billion venture fund—the largest cryptocurrency-focused venture capital fund raised at the time—surpassing the $2.2 billion fund announced by Andreessen Horowitz earlier that year.[15] The firm's portfolio has included investments in projects such as Uniswap, Optimism, and other decentralized finance protocols and blockchain infrastructure companies.[10]

In October 2023, Ehrsam stepped down from his managing partner role at Paradigm and transitioned to the position of general partner, citing a desire to devote more time to exploring scientific areas of personal interest.[16]

Nudge

In 2024, Ehrsam incorporated Nudge, a neurotechnology startup focused on developing non-invasive brain–computer interfaces using low-intensity focused ultrasound (LIFU). He co-founded the company with Quintin Frerichs and Jeremy Barenholtz, the latter a former vice president of product and technology at Neuralink.[1][17] In April 2025, the company unveiled its first device, the Nudge Zero, a wearable ultrasound headset designed for brain stimulation and imaging within research settings.

In July 2025, Nudge raised $100 million in a Series A funding round led by Thrive Capital and Greenoaks.[18] As of mid-2025, the company reported that the Nudge Zero was in near-daily use in research studies, with patient applications expected to follow.[18] The company has stated that its longer-term vision includes developing a consumer headset-like product intended to improve mood, cognition, and sleep.[1]

See also

References

  1. ^ a b c Swetlitz, Ike; Carson, Biz (June 10, 2025). "Coinbase's Ehrsam Hires Neuralink Employees for Brain Startup Nudge". Bloomberg News. Retrieved March 1, 2026.
  2. ^ a b c "#1664 Fred Ehrsam". Forbes. Retrieved April 13, 2021.
  3. ^ "30 Under 30: Futures Market". Forbes. June 30, 2014. Retrieved April 13, 2021.
  4. ^ "Fred Ehrsam's Net Worth – How Rich is He?". Finty. Retrieved March 1, 2026.
  5. ^ a b c d e "Coinbase mafia shows how tight a circle holds sway over Bitcoin". The Japan Times. March 1, 2021. Retrieved April 13, 2021.
  6. ^ Becker, Charles (October 28, 2018). "The downfall of Durham's historic Hayti: Propagated or preempted by urban renewal?" (PDF). Duke University. Archived from the original (PDF) on October 28, 2018. Retrieved July 29, 2018.
  7. ^ "Fred Ehrsam, Paradigm Operations LP: Profile and Biography". Bloomberg. Retrieved April 8, 2023.
  8. ^ "BrokerCheck – Find a broker, investment or financial advisor". FINRA BrokerCheck. Retrieved July 30, 2018.
  9. ^ a b "Why Coinbase's Cofounder Is Moving On". Fortune. January 21, 2017. Retrieved April 13, 2021.
  10. ^ a b "Crypto Venture Firm Paradigm Announces $2.5B Fund, Industry's Largest". CoinDesk. November 15, 2021. Retrieved March 1, 2026.
  11. ^ "Coinbase Independent Directors Have Close Company Ties". The Wall Street Journal. April 5, 2021. Retrieved April 13, 2021.
  12. ^ "Coinbase Global, Inc. SEC Filings – Director Frederick Ernest Ehrsam III". U.S. Securities and Exchange Commission. Retrieved March 1, 2026.
  13. ^ "These Young Investors Betting Big On Crypto Are Taking Harvard And Stanford Along For The Ride". Forbes. October 18, 2020. Retrieved April 13, 2021.
  14. ^ "Fidelity, Square, Coinbase Launch Bitcoin Trade Group". The Wall Street Journal. April 6, 2021. Retrieved April 13, 2021.
  15. ^ Matney, Lucas (November 15, 2021). "Crypto VC firm Paradigm debuts monster $2.5 billion fund". TechCrunch. Retrieved March 1, 2026.
  16. ^ "Paradigm's Fred Ehrsam Steps Back From Crypto-Focused VC Firm". Bloomberg News. October 24, 2023. Retrieved October 24, 2023.
  17. ^ "Nudge – Company Profile". Tracxn. December 2, 2025. Retrieved March 1, 2026.
  18. ^ a b "Nudge Secures $100 Million in Series A to Build Whole Brain Interfaces for Everyday Life". The Menlo Times. July 23, 2025. Retrieved March 1, 2026.
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