Paradigm co-founder and managing partner Fred Ehrsam has announced that he has decided to move into a less responsible role within the company as he wants to explore other interests.

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

Ehrsam shared an article on X (formerly Twitter),reiterated that he will continue to be involved with Paradigm, but will no longer be involved in day-to-day management operations。

“I will continue to work with our investment and research teams to engage with portfolio companies and fight for good crypto policy while reducing my focus on the day-to-day management of the company.”

Ehrsam mentioned,He will be committed to working with Paradigm’s other co-founder Matt Huang and the entire Paradigm team to continue to promote the development of Crypto assets。

He added, “This change has freed me up to explore some areas of science that I am personally passionate about.”

At the same time, Ehrsam also recognizes that he has been extremely lucky to have built two companies in the booming crypto industry. “After starting Coinbase with Brian, I somehow won the co-founder lottery again,” he said.

Ehrsam affirmed that even as he undergoes a career transition, he remains confident in the Crypto space: “I have spent over a decade in the Crypto space and I am more confident than ever that this will be the industry for decades to come. One of the most world-changing technologies of the year.”

Paradigm, on the other hand, has recently been an active critic of the U.S. government’s approach to regulating Crypto assets。

On October 1, BeInCrypto reported that Paradigm accused the SEC of exceeding its jurisdiction when regulating Crypto assets.

The company detailed its arguments in an amicus brief as part of litigation between the SEC and crypto exchange Binance.

Paradigm said, “In this and other cases, the SEC acted beyond its statutory authority。”

However, the move comes shortly after reports surfaced that Binance.US CEO Brian Shroder also recently left the company.

Additionally, on October 13, BeInCrypto reported that Schroder had left the exchange, with chief legal officer Norman Reed taking his place.