Convicted sex offender Jeffrey Epstein’s hidden crypto investments came to light in a new release of so-called Epstein files — documents from the U.S. Department of Justice (DOJ), revealing his $3 million stake in Coinbase and links to Bitcoin developer Blockstream.
Summary
- Epstein invested $3 million in Coinbase in 2014 through a U.S. Virgin Islands-based entity.
- Epstein also backed Bitcoin developer Blockstream in 2014 but sold his stake months later due to conflicts of interest.
- The revelations are part of a new batch of documents released by the U.S. Department of Justice.
Epstein, according to Bloomberg, invested in Coinbase through a U.S. Virgin Islands-based entity in 2014, years after his criminal conviction. The deal was brokered by Brock Pierce, a cryptocurrency mogul and former child actor, and Brad Stephens, co-founder of Blockchain Capital.
At the time, Epstein’s $3 million investment represented less than 1% of Coinbase, which was valued at $400 million. Emails indicate that Coinbase co-founder Fred Ehrsam was aware of Epstein’s involvement, though it’s unclear whether a planned meeting ever took place.
Blockchain Capital attempted to acquire part of Epstein’s stake in 2018, and Epstein even considered reinvesting during Coinbase’s Series E round. The company went public in 2021 and is now valued at nearly $50 billion.
Epstein crypto dealings didn’t end with Coinbase
Epstein also backed Bitcoin-focused company Blockstream in 2014 but sold his stake a few months later due to conflicts of interest.
In a statement, Blockstream CEO Adam Back clarified that the company has no financial ties to Epstein’s estate. Epstein’s involvement in crypto was part of his broader investment portfolio, which spanned finance, media, and technology, securing him access to powerful networks.
These latest revelations, part of thousands of pages of Epstein’s financial records, underscore his deep, secretive ties to the world of digital assets.
