{"id":78739,"date":"2023-05-15T13:22:00","date_gmt":"2023-05-15T10:22:00","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=78739"},"modified":"2025-09-11T07:05:12","modified_gmt":"2025-09-11T04:05:12","slug":"paradigm-buys-coinbase-shares-for-49-4-million","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/paradigm-buys-coinbase-shares-for-49-4-million\/","title":{"rendered":"Paradigm buys Coinbase shares for $49.4 million"},"content":{"rendered":"<p>Paradigm purchased 810,000 shares of Coinbase, a cryptocurrency exchange, at an average price of $61, spending $49.4 million. The venture firm said this in a<a href=\"https:\/\/d18rn0p25nwr6d.cloudfront.net\/CIK-0001679788\/ae92e784-5593-4e63-b890-5304c08e5b49.pdf\"> filing with the <span data-descr=\"U.S. Securities and Exchange Commission\" class=\"old_tooltip\">SEC<\/span><\/a>.<\/p>\n<p>The deal was effected by Paradigm One LP, a subsidiary. Together with Paradigm Fund LP, the structures own about 4.5 million Coinbase securities.<\/p>\n<p>The firm&#8217;s co-founder Fred Ehrsam is a co-founder of the cryptocurrency exchange and retains a seat on its board.<\/p>\n<p>The top executive directly owns 1.1 million Coinbase shares through the Frederick Ernest Ehrsam III Living Trust.<\/p>\n<p>On May 10, 2023, Paradigm <a href=\"https:\/\/policy.paradigm.xyz\/assets\/writing\/Coinbase-Amicus-File-Marked.pdf\">sent<\/a> a letter to the court as <span data-descr=\"the person assisting the court by providing information relevant to the case, without being a party or participant\" class=\"old_tooltip\">amicus curiae<\/span> in support of <a href=\"https:\/\/forklog.com\/en\/news\/coinbase-sues-sec-to-compel-a-response-to-its-rulemaking-petition\">Coinbase against the SEC<\/a>.<\/p>\n<p>The platform filed it after <a href=\"https:\/\/forklog.com\/en\/news\/sec-issues-wells-notice-to-coinbase\">receiving notice<\/a> from the Commission of an investigation into the listing process on the platform and its products \u2014 Coinbase Prime, Coinbase Wallet and <a href=\"https:\/\/forklog.com\/en\/news\/what-is-staking-and-how-to-make-money-from-it\">staking<\/a> service Coinbase Earn.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p><em>&#8220;Paradigm and the entrepreneurs it backs are keen to hold the SEC to account for delays in responding to the exchange&#8217;s petition for rulemaking,&#8221;<\/em> the statement said.<\/p>\n<\/blockquote>\n<p>Since the start of the year Coinbase shares have risen 62%. The losses <a href=\"https:\/\/forklog.com\/en\/news\/coinbase-shares-begin-trading-on-nasdaq-market-capitalisation-tops-100bn\">since the IPO<\/a> stand at 85%.<\/p>\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/image-285.webp\" alt=\"image-285\" class=\"wp-image-206921\"\/><figcaption>Daily chart of Coinbase shares on NASDAQ. Data: <a href=\"https:\/\/finviz.com\/quote.ashx?t=COIN&#038;p=d\"> Finviz<\/a>.<\/figcaption><\/figure>\n<p>Coinbase&#8217;s net loss in the first quarter of 2023 amounted to $78.9 million, or $0.34 per share, well ahead of analysts&#8217; expectations ($0.87).<\/p>\n<p>ARK Invest has been an active buyer of Coinbase securities in recent months.<\/p>\n<p>In April, Paradigm<a href=\"https:\/\/forklog.com\/en\/news\/paradigm-criticises-sec-approach-to-regulating-cryptocurrencies\"> criticised<\/a> the SEC&#8217;s approach to regulating cryptocurrencies.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Paradigm purchased 810,000 shares of Coinbase at an average price of $61, spending $49.4 million.<\/p>\n","protected":false},"author":1,"featured_media":78740,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[138,1608],"class_list":["post-78739","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-coinbase","tag-paradigm"],"aioseo_notices":[],"amp_enabled":true,"views":"15","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/78739","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=78739"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/78739\/revisions"}],"predecessor-version":[{"id":78741,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/78739\/revisions\/78741"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/78740"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=78739"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=78739"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=78739"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}