The founder of Paradigm stepped down as managing director

Fred Ehrsam, co-founder and managing partner of Paradigm, has announced that he has decided to move into a less prominent role at the company while he seeks to explore other interests.

“My role at Paradigm will change from managing partner to general partner,” Ehrsam said.

Paradigm's co-founders pledged continued industry involvement.

In a post shared on X (formerly Twitter), Ihrsam reiterated that he will continue his relationship with Paradigm. But he distanced himself from the daily management tasks.

“I will continue to work with our investment and research team, working with portfolio companies and fighting for good crypto policy and focusing on the day-to-day management of the company.”

Ehrsam cited his commitment to working with Paradigm founder Matt Huang and the entire Paradigm team to “continue to push the boundaries of crypto forward.”

“This change will allow me to take some time to explore areas of science that are of personal interest to me,” Ehrsam said.

Paradigm Voice's position 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 again,” Ersam said.

Meanwhile, Ehrsam has confirmed that despite undergoing a career transition, he maintains his faith in crypto:

“I've spent over a decade on crypto and I'm more convinced than ever that crypto will be one of the most world-changing technologies of the next decade.”

On the other hand, Paradigm has recently been an active commentator on the US government's approach to crypto regulations.

On October 1, BeCrypto reported that Paradigm had accused the US Securities and Exchange Commission (SEC) of overstepping its authority in crypto regulation.

The firm outlined its argument in an amicus brief. This was part of a lawsuit between the SEC and crypto exchange Binance.

“Here and in other cases, the SEC acted in excess of its statutory authority,” Paradigm said.

However, this move comes after reports that Binance.US CEO Brian Schroeder recently left the position.

Additionally, on October 13, BeInCrypto reported that Schroder had exited the exchange. Binance is currently involved in an ongoing dispute with the SEC. However, Chief Legal Officer Norman Reed took over.