As per a United States Securities and Exchange Commission (SEC) filing, Ehrsam, who also is the managing partner at Paradigm, bought COIN worth $48.8m in a series of trades this week. The acquisition saw Ehrsam secure an additional 810,000 Coinbase shares at prices ranging from $59.30 to $63.20 per share. Having launched its IPO on NASDAQ in April 2021, Coinbase’s stock has experienced significant volatility, sliding around 85% from its opening price of $381 per share. The Coinbase co-founder began his career as a foreign exchange trader at Goldman Sachs before launching Coinbase with Brian Armstrong in 2012.
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