Coinbase Co-Founder Fred Ehrsam Targets Three Venezuelan Oil Fields

$COIN co-founder Fred Ehrsam is reportedly seeking control of three Venezuelan oil fields in the country’s resource-rich Orinoco Belt.
The billionaire is targeting the Boca, Guico and Guara blocks, which are currently operated by Alvorada.
Alvorada has reportedly invested roughly $30 million to bring previously idle wells back online, but U.S. officials are now considering whether to revoke those existing contracts.
The development comes as U.S. Energy Secretary Chris Wright prepares to travel to Caracas, where as many as 17 oil and gas agreements are expected to be presented.
Ehrsam has already made multiple trips to Caracas and met with senior U.S. and Venezuelan officials while exploring opportunities across oil, gas, fintech and digital payments.
The move highlights growing interest in Venezuela’s energy sector as political and commercial ties begin to shift.