Emails Reveal Jeffrey Epstein’s $3 Million Investment in Coinbase

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TLDR

Jeffrey Epstein made a $3 million investment in Coinbase in December 2014 according to newly released emails.
Emails show that Coinbase co-founder Fred Ehrsam was aware of Epstein’s involvement in the investment.
The investment was arranged by Tether co-founder Brock Pierce and his firm, Blockchain Capital.
The deal occurred when Coinbase was valued at $400 million, long after Epstein’s conviction as a registered sex offender.
In 2018, Epstein sold half of his Coinbase equity for nearly $15 million, retaining the other half.

Emails recently released by the U.S. Justice Department have revealed that convicted sex offender Jeffrey Epstein made a multimillion-dollar investment in Coinbase in 2014. The emails show that Coinbase’s leadership was aware of Epstein’s involvement in the deal. Epstein’s $3 million investment in the crypto exchange occurred more than six years after he was convicted for sex-related crimes.

Epstein’s Investment in Coinbase

Jeffrey Epstein made his $3 million investment in Coinbase in December 2014. According to emails, this deal was arranged by Tether co-founder Brock Pierce and his firm, Blockchain Capital. The emails suggest that Fred Ehrsam, Coinbase’s co-founder, was aware that the investment was made on Epstein’s behalf.

In a December 3, 2014, email, Ehrsam expressed interest in meeting Epstein in New York to discuss the investment.

He wrote, “I have a gap between noon and 3 pm today, but again, not crucial for me, but would be nice to meet him if convenient.”

Later, Blockchain Capital co-founder Brad Stephens confirmed the investment, and Coinbase’s wire transfer details were sent to Epstein’s assistant, Darren Indyke.

Details of the Coinbase Deal

The investment was made when Coinbase was valued at $400 million, the emails reveal. In 2018, Epstein sold half of his Coinbase equity back to Blockchain Capital. By that time, Coinbase’s valuation had skyrocketed, and Epstein’s initial $3 million investment had grown considerably. He cashed out $15 million for half of his stake, retaining the other half.

At the time of the deal, Epstein had been a registered sex offender for over six years. His involvement in the deal raised questions about the ethical considerations surrounding the investment. Despite this, the emails show that Coinbase’s leadership proceeded with the arrangement.