Newly released U.S. Department of Justice emails indicate Jeffrey Epstein gained exposure to early cryptocurrency investments through intermediaries, including a reported stake in Coinbase. DOJ records show an entity tied to Epstein purchased 195,910 Series C shares in Coinbase in 2014 for roughly $3.25 million, at a time when the exchange’s valuation was about $400 million. The documents do not show Coinbase executives directly negotiating with Epstein or being informed of the investment’s ultimate beneficial owner.
A Dec. 4, 2014 email from Blockchain Capital founder Bradford Stephens to Epstein associate Darren Indyke states: “When we figure out which LLC will be making the $3m investment, we will have them change the name of the investing entity. Wire instructions are also included.” The DOJ materials include related correspondence among Epstein, his accountant Richard Khan, and figures at Blockchain Capital.
Epstein-linked entities also participated in Blockstream’s oversubscribed $18 million seed round, routed through three separate limited liability companies: Crypto Currency Partners II LLC, Crypto Currency Partners II LLP, and Crypto Currency Partners LP.
Four years after the Coinbase purchase, Stephens approached Epstein in 2018 seeking to buy half the position, proposing a $2 billion valuation and offering $15 million for about half of the original holding. In a Jan. 20, 2018 message he wrote: “We would be willing to buy the position from you at a $2b valuation. We would pay $15m for this $3m investment.” A Feb. 22, 2018 email from Blockchain Capital co-founder Brock Pierce said Stephens had “wired $15m for half of your Coinbase position yesterday,” leaving Epstein with remaining equity plus returned cash. DOJ documents contain multiple references to Pierce in connection with cryptocurrency investments linked to Epstein.
Cointelegraph has reached out to Coinbase for comment. This report was prepared under Cointelegraph’s editorial standards; readers are encouraged to verify details independently.