Coinbase Co-Founder Fred Ehrsam Buys the Dip and $75 Million in Company Stock!

Fred Ehrsam acquired over one million shares of Coinbase (COIN) worth around $75 million, stepping in when the crypto exchange's stock price plummeted following the company's disappointing earnings report.
According to a Form 4 filing with the SEC, Ehrsam – through the venture capital firm he co-founded, Paradigm – acquired more than 706,000 shares in Coinbase on May 13 for an average price of roughly $70 per, totaling about $50 million. On May 17, he followed up with the acquisition of additional 385,000 shares at an average price of nearly $65 apiece, totaling about $25 million. The purchases increased Paradigm's Coinbase holdings to more than 3.6 million shares.