Convicted sex offender Jeffrey Epstein’s hidden crypto investments have been revealed in a new release of so-called Epstein Files – documents from the US Department of Justice (DOJ), revealing his $3 million stake in Coinbase and ties to Bitcoin developer Blockstream.
Summary
- Epstein invested $3 million in Coinbase in 2014 through an entity based in the U.S. Virgin Islands.
- Epstein also backed Bitcoin developer Blockstream in 2014, but sold his stake months later due to conflicts of interest.
- These revelations are part of a new batch of documents released by the US Department of Justice.
Epstein, according to Bloomberg, invested in Coinbase through an entity based in the U.S. Virgin Islands in 2014, years after his criminal conviction. The deal was brokered by cryptocurrency mogul and former child actor Brock Pierce and Brad Stephens, co-founder of Blockchain Capital.
At the time, Epstein’s $3 million investment represented less than 1% of Coinbase, valued at $400 million. The emails indicate that Coinbase co-founder Fred Ehrsam was aware of Epstein’s involvement, although it is unclear whether a planned meeting ever took place.
Blockchain Capital attempted to acquire a portion 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’s crypto trades 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, guaranteeing him access to powerful networks.
These latest revelations, part of thousands of pages of Epstein’s financial records, underscore his deep and secret ties to the world of digital assets.
