Launched in 2018, the Europe-based company CoinField has grown to become one of the world’s more popular cryptocurrency exchanges, sporting hundreds of thousands of users and a fully regulated currency wallet system through which users can trade Bitcoin and Ethereum, among many other currencies.
Last year, CoinField was acquired by a fintech firm, so it’s probably not surprising that CoinField’s co-founder and former CEO can afford a plush Los Angeles home. Babak “Bob” Ras shelled out an impressive $16.5 million for his residence of choice, a sleekly contemporary mansion high in the mountains above Beverly Hills, though that number is significantly less than the property’s original $21 million asking price.
A lifelong entrepreneur, Ras is also the co-founder and CEO of Sologenic, a blockchain-based ecosystem headquartered in Dubai, and Coreum, a blockchain network. In addition, Ras is CEO of Hardex Brakes, a Vancouver-based global manufacturer and exporter of brake pads. That network of varied businesses keeps Ras on a worldwide merry-go-round, constantly shuttling between Europe, Dubai, Vancouver and his new Los Angeles digs.
As for that Beverly Hills-adjacent house, the 8,500-square-foot mansion was custom-built over several years by the founder of a chain of dialysis centers and his wife, a longtime real estate broker. The couple replaced a far more modest structure with a half-acre of glitz and glamour, beginning with a boxy residence that offers a sunken entertainment area, soaring ceilings and walls of glass throughout. An enormous kitchen offers two quartzite-slathered islands, and there are book-matched marble fireplaces, a walk-in wine cellar and a movie theater with stadium seating.
Upstairs, the primary suite has a bedroom with a private terrace, dual bathrooms and dual walk-in closets. Naturally, the property is also equipped with a state-of-the-art fitness center.
The house is admirably secluded, set at the very end of a long cul-de-sac, and a tall hedge wall shields the property’s grassy backyard from the street. But the estate’s most impressive feature lies further out back, where a 60-foot infinity pool is seemingly cantilevered over the canyons far below. After dusk, moonlight glints off the surrounding hills, and twinkling city lights can be seen in the far distance.