Department of Justice emails suggest Epstein made Coinbase investment in 2014

The emails indicate that an entity linked to Epstein acquired 195,910 Series C shares in Coinbase for $3.25 million on a $400 million valuation in 2014. The documents do not show that Coinbase executives had direct dealings with Epstein or that the company knew the ultimate beneficial owner of the investment at the time.

In one message dated on 4 December 2014, Blockchain Capital founder and managing partner Bradford Stephens told Darren Indyke, described in the emails as one of Epstein’s associates, that the investing entity’s name would be changed once the limited liability company making the $3 million investment was identified. The correspondence also referenced wire instructions.

The release also contains references to other Epstein-linked exposure to the sector. The emails cite participation in Blockstream’s $18 million oversubscribed seed round through three limited liability entities named Crypto Currency Partners II LLC, Crypto Currency Partners II LLP and Crypto Currency Partners LP.

Later emails discuss a partial sale of the Coinbase position. In an email dated on 20 January 2018, Stephens wrote that he was interested in buying the limited liability company used for the Coinbase investment and offered to purchase half of the stake at a $2 billion valuation, paying $15 million for what he described as a $3 million position. A follow-up email dated on 22 February 2018 from Brock Pierce, described as a co-founder of Blockchain Capital, stated that $15 million had been wired for half of the position.

Cointelegraph said it contacted Coinbase for comment on the emails and the reported investment.