Fred Ehrsam’s Quiet Quitting at Paradigm

Paradigm co-founder Fred Ehrsam is relinquishing his role as managing partner of the crypto-focused firm he co-founded five years ago, I reported yesterday. The writing has been on the wall for a while.  

As I wrote in my story, Ehrsam—who had previously co-founded Coinbase with Brian Armstrong—has taken a back seat over the past year to the firm’s other co-founder, Matt Huang. After Paradigm received blowback for scrubbing any mention of crypto from its website homepage, Huang was the public face of Paradigm’s comments and tweeted that the move was a “mistake.” Huang also was the only signatory on a letter the firm sent to limited partners regarding the change, in which he dismissed the idea that Paradigm was pivoting its focus to AI, I reported last month.