Crypto VC Paradigm buys Coinbase shares worth $50 million
Paradigm has doubled down on Coinbase, buying more shares in the exchange operator worth around $50 million.Stay updated on Pro Crypto Ecosystems news by locking ACS tokens with The Block.No wallet? No problem. You can set one up for free. We recommend Torus for first-time users.Crypto venture capital firm Paradigm, an existing investor in Coinbase, bought more shares in the exchange operator earlier this week worth around $50 million.
Specifically, Paradigm's entity Paradigm One LP bought 810,000 Coinbase shares at an average price of $61 on Tuesday and Wednesday. After the transactions, two Paradigm entities — Paradigm One LP and Paradigm Fund LP — now hold a total of 4.5 million Coinbase shares, per the filing. Ehrsam also owns 1.1 million shares of Coinbase via the Frederick Ernest Ehrsam III Living Trust.
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