- Jeffrey Epstein-linked entities may have invested $3.25 million in Coinbase in 2014 through intermediaries, new DOJ files show.
- The documents reveal he also invested in the seed round of blockchain firm Blockstream and suggest his extensive early crypto ties.
- Epstein later sold half of that potential Coinbase stake in 2018 for $15 million, a significant return on the initial investment.
Newly released US Justice Department emails reveal the late financier Jeffrey Epstein may have gained significant exposure to early cryptocurrency ventures through intermediaries, according to files made public this week. The documents suggest an entity linked to Epstein acquired shares in Coinbase in 2014 when the exchange was valued at $400 million.
However, the files do not indicate that Coinbase executives had direct dealings with Epstein or knew the ultimate beneficial owner. An email from Blockchain Capital founder Bradford Stephens detailed arranging the $3.25 million investment through a limited liability company.
Consequently, the documents show Epstein had growing ties to the nascent crypto industry, also participating in Blockstream‘s $18 million seed round. Meanwhile, Stephens later sought to buy back half of the potential Coinbase position in 2018.
He offered $15 million for half the stake, reflecting a $2 billion valuation, as stated in a February email. Brock Pierce, co-founder of Blockchain Capital, confirmed the wire transfer was completed that month.
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