Coinbase’s first employee has departed from the company to start his own firm

Coinbase’s first employee was Olaf Carlson-Wee, and began working with the startup in March 2013 as the Head of Risk and Product Manager. Olaf has recently left Coinbase to start his own company, Polychain Capital.

According to an interview Carlson-Wee did with CoinDesk, he left Coinbase to start a new digital currency hedge fund. Carlson-Wee believes that his vision for Polychain Capital will be enough to turn it into one that generates significant returns for those who invest, given that the fund plans to invest solely in digital currencies and other blockchain-based tokens.

The timing of his departure comes as Coinbase for the most part has continued to be a wildly successful startup in the bitcoin space, which is also the most highly funded company to date too.

Coinbase just announced this week that it expanded to Australia and earlier this month said it raised a new round of venture capital to the tune of $10.5 million from Japanese investors.

Carlson-Wee said that the firm does not yet have investors or even its own website and that Polychain Capital will create an actively managed portfolio of blockchain-based assets, something he argued makes sense for investors who believe broadly in blockchain, beyond simply the major digital currencies.

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David is a writer, researcher, and developer who is passionate about bitcoin and blockchain. He writes for Bitcoin.com, Blockchain.com, and is the founder of Bitcoinx.io (which was acquired by Bitcoin.com). David previously used to write and curate for Myspace and has worked in the fintech and payments space for over 15 years.