The disclosures allegedly highlight how Epstein became connected to crypto firms during the industry’s early growth
Newly released emails from the US Department of Justice (DOJ) indicate that Jeffrey Epstein quietly gained early exposure to cryptocurrency ventures, including a reported multimillion-dollar stake in Coinbase. The documents suggest Epstein invested through intermediaries rather than dealing directly with companies.
According to the emails, an entity tied to Epstein purchased roughly 195,900 Series C shares of Coinbase in 2014. The total investment came to about $3.25 million, at a time when the crypto exchange was valued near $400 million. There is no indication that Coinbase executives knew Epstein was behind the funds.
The investment was arranged through Blockchain Capital, a venture firm active in early crypto deals. In one email, founder Bradford Stephens discussed changing the name of the investing entity once the correct LLC was identified. The message also included wire instructions, pointing to efforts to keep Epstein’s involvement indirect.
Additional DOJ records show Epstein-backed entities also took part in other early blockchain investments. These included participation in Blockstream’s oversubscribed seed round, which raised $18 million. The funds were spread across several limited liability companies linked to Epstein.
Emails from 2018 reveal that Epstein later sold half of his Coinbase position. Stephens approached him with an offer based on a $2 billion valuation, proposing to pay $15 million for half of the original stake. The deal would have turned a $3 million investment into a significant return in just four years.
A follow-up email suggested the payment was completed, leaving Epstein with both cash and remaining equity. Brock Pierce, another Blockchain Capital co-founder, was also referenced as helping facilitate the transaction.
