Cryptocurrency billionaire Fred Ehrsam is seeking a foothold in Venezuela’s oil industry through Primavera, the company he recently founded. Primavera signed a production-sharing agreement with state-owned Petróleos de Venezuela to obtain oil-production rights, while Ehrsam spent an extended period this year staying at a luxury hotel in Caracas. The 38-year-old Coinbase co-founder has no traditional oil-and-gas background but has supported the Trump administration and was invited to serve on the President's Science and Technology Advisory Council. Venezuela experts said they had not heard of Primavera and believe its expansion in the country remains highly uncertain.