Share this article
Coinbase Co-Founder Fred Ehrsam is Leaving the Company
Coinbase co-founder Fred Ehrsam is leaving the San Francisco-based bitcoin startup for undisclosed opportunities.
By Pete Rizzo
Updated Sep 11, 2021, 1:00 p.m. Published Jan 18, 2017, 10:29 p.m.
Former Goldman Sachs trader and Coinbase co-founder Fred Ehrsam is leaving the San Francisco bitcoin startup for new opportunities.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
Revealed to the company today via an internal meeting, Ehrsam told CoinDesk he intends to now "step back" from his daily duties at the end of January, take some time off, and potentially, plot a new venture in the blockchain industry.
"There's a high probability it will be in the crypto space," he said.
Ehrsam will continue to hold a position on the Coinbase board.
When asked about the reasons behind the move, Ehrsam said that he believes both the company and the wider blockchain industry to be at an "inflection point".
"This is the first time I've thought it could support a diverse set of businesses and ideas," he said.
Ehrsam first joined Coinbase at the end of 2012 after exchanging emails with co-founder and CEO Brian Armstrong, who was then building the bitcoin wallet startup at Y Combinator. (Forbes has a longer profile of the story here).
Ehrsam said the move had been discussed for some time, and that, over time, he expects more employees will likely leave Coinbase for new ventures.
Coinbase's first employee, Olaf Carlson-Wee, for example, left the company in July to start a hedge fund focused on the trading of blockchain-based tokens, a funding model of which Ehrsam has emerged as a noteworthy proponent.
"If you look at the really successful companies, the big ones that emerge in a whole new industry, the most successful ones throw off entrepreneurs," he said, adding:
"It's like the PayPal mafia. We're creating the Coinbase mafia."
During his time at the startup, Ehrsam made 30 Under 30 lists from publications including Time and Forbes, while also attending high-profile events as a representative of the company.
As part of the news, Coinbase also announced Mike Lempres will be joining as chief legal and risk officer.
The company added in a statement: "Coinbase has never been in a stronger position and we are optimistic for 2017 and beyond."
Disclosure: CoinDesk is a subsidiary of Digital Currency Group, which has an ownership stake in Coinbase.
Fred Ehrsam image via YouTube
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
Bitcoin Faces Japan Rate Hike: Debunking The Yen Carry Trade Unwind Alarms, Real Risk Elsewhere
Speculators maintain net bullish positions in the yen, limiting scope for sudden JPY strength and mass carry unwind.
What to know:
- Impending BOJ rate hike largely priced in; Japanese bond yields near multi-decade highs.
- Speculators maintain net bullish positions in the yen, limiting scope for sudden yen strength.
- BOJ tightening may contribute to sustained upward pressure on global yields, impacting risk sentiment.
Top Stories
