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Erik Voorhees is an American/Panamanian startup founder (born March 2, 1985), cryptocurrency advocate, and promoter of financial freedom through digital assets.
His crypto journey started in 2012 when he was appointed Director of Marketing at BitInstant.
Besides helping build an essential part of the cryptocurrency ecosystem and defending and promoting Bitcoin, he became more famous for making the first million-dollar transaction in Bitcoin.
Voorhees sold SatoshiDice, a Bitcoin-based betting platform, for 125,315 Bitcoins (equivalent to $11.5 in 2013).
He founded ShapeShift, a cryptocurrency exchange, in 2013 and is still the CEO.
Erik Voorhees Net Worth 2023
The estimated net worth of Erik Voorhees is $30 million as of August 17, 2023. This is attributed mainly to his stake in ShapeShift’s native token, FOX.
Erik’s wealth is attributable to his early involvement in the cryptocurrency industry and the establishment of ShapeShift.
He was an early investor of Bitcoin (BTC) when it was still triple-digit with other people such as Michael Saylor.
His understanding of blockchain technology and cryptocurrencies and their applications gave him recognition as one of the most insightful leaders in the blockchain space.
Furthermore, his educational and insightful contributions through blogs, interviews, and social media have bolstered his standing as a thought leader in the cryptocurrency community.
Erik Voorhees Career
Erik founded ShapeShift in 2014. ShapeShift is an instant cryptocurrency exchange that Erik developed and managed under a penname until he revealed his identity in 2015 in a seed fundraising announcement.
However, his crypto journey began in 2012 when he joined BitInstant L.L.C. Erik served as the head of marketing and communications until he later co-founded the Bitcoin company Coinapult. This company transfers bitcoin via SMS and email.
Although Voorhees founded SatoshiDice, the company has been criticized for its high gambling traffic, vastly increasing the data stored in the Bitcoin blockchain. In July 2013, Voorhees sold SatoshiDice to an anonymous investor for 125,315 bitcoins, valued at $11.5 million U.S. in 2013 ( $4,357,867,500 as of November 2023). It was the first million-dollar transaction in Bitcoin.
After selling SatoshiDice, the US SEC fined Voorhees $50,000 for selling unregistered securities.
Erik Voorhees attended Vail Mountain School and graduated 2007 from the University of Puget Sound.
Voorhees believes the current monetary system has systemic severe problems with counterparty risk, that the Federal Reserve System is “fraudulent” and advocates “the separation of money and state.”
He is an outspoken libertarian and advocate for Bitcoin, talking openly about his concerns surrounding traditional monetary systems and taxation.
He is known to work with regulators on better understanding the decentralized financial system and improving the future of both web3 and DeFi.
ShapeShift reflects his political and economic beliefs that it is a free service.
Erik Voorhees is one of the many top voices in the crypto industry who have built thriving blockchain solutions and are still actively contributing to the growth and application of blockchain technology.
Erik Voorhees, SBF debate on crypto regulation
Erik Voorhees and Sam Bankman-Fried, the CEO of FTX exchange, participated in a debate organized by Bankless, a YouTube channel specializing in crypto money and crypto finance. The debate organized by Bankless was center-staged around Bankman-Fried’s proposal for crypto regulation.
