Fred Ehrsam invests in Venezuelan oil, calls it a once-in-a-generation opportunity
Photo: Crypto Briefing
The Coinbase co-founder is betting personal crypto wealth on a high-risk energy play in one of the world's most politically volatile oil markets. Fred Ehrsam made his name in crypto. Now he is putting the proceeds into oil fields. Ehrsam, co-founder of Coinbase and crypto venture firm Paradigm, has launched a new company called Primavera to pursue oil production in Venezuela. The venture is funded by his personal capital, and as of October 13, 2026, Primavera had signed production-sharing contracts with Petróleos de Venezuela, the state-owned oil company known as PDVSA.
Source: Crypto Briefing
