Epstein Coinbase investment revealed in newly released DOJ documents

Freshly released U.S. Department of Justice material on the Epstein Files has surfaced new details about the epstein coinbase investment, adding fresh controversy to the late financier’s tech footprint.

DOJ emails reveal Epstein’s $3M move into Coinbase

The latest batch of Epstein Files documents, tied to American financier Jeffrey Epstein, shows he committed a $3 million investment to crypto exchange Coinbase more than a decade ago. However, the deal structure appears indirect and routed through venture funds rather than a direct cap table entry.

According to documents released by the U.S. Department of Justice, Epstein made the commitment in 2014 via Brock Pierce‘s venture fund Blockchain Capital. Moreover, the material suggests the allocation was part of a wider set of early-stage crypto bets.

Bitcoin researcher Kyle Torpey noted in a post that it was “unclear if the deal actually went through, but there is a lot of discussion around investing in Coinbase in the files.” That said, the volume and tone of internal messages indicate a serious effort to secure a position in the exchange.

The alleged link to Coinbase co-founder Fred Ehrsam

The investment discussions reportedly helped arrange a face-to-face fred ehrsam meeting with Epstein. In an email screenshot circulating online, “Jeff” is referenced in the same thread as Coinbase co-founder Fred Ehrsam, implying the executive was at least aware of the proposed allocation.

“I have a gap between noon and 3pm today, but again, not crucial for me, but would be nice to meet him if convenient. Is it important for him,” Ehrsam wrote, according to the leaked correspondence. However, the emails do not specify whether the meeting ultimately occurred, nor do they detail the precise structure of the stake.

Four years later, in 2018, another email cited in the files states that Epstein ultimately received his Coinbase allocation. Moreover, it appears he sold 50% of that stake back to Blockchain Capital for around $11 million, suggesting a substantial paper gain on the initial commitment.

Long before these alleged crypto deals, Epstein had already been convicted. In 2008, a Florida state court found him guilty of procuring a child for prostitution and soliciting a prostitute, a case that later fed growing scrutiny of his financial network and counterparties.

Strategy and the wider early-stage crypto network

The Coinbase episode adds another controversial name to the list of coinbase early investor candidates linked to Epstein’s capital. However, it also underlines how early crypto companies often raised funds from complex networks of limited partners, family offices and traditional venture capital.

These structures can obscure who is effectively backing a round, especially when fund-of-funds or institutional vehicles sit between individuals and operating startups. That said, the blockchain capital deal at the center of this case appears to have given Epstein at least indirect exposure to one of the industry’s most prominent exchanges.

The epstein coinbase investment disclosures surface amid broader debates about the ethics of capital sourcing in digital assets. Moreover, they revive questions about whether early crypto projects sufficiently vetted where their investors’ money originated, especially in the years before regulatory scrutiny intensified.

Blockstream denies any Epstein financial ties

In parallel with the Coinbase revelations, Blockstream CEO Adam Back publicly rejected any ongoing blockstream epstein connection suggested by the same document trove. “Blockstream has no direct nor indirect financial connection with Jeffrey Epstein, or his estate,” Back wrote on X.

One of the U.S. DOJ documents, dated July 2014, describes Blockstream co-founder Austin Hill discussing the company’s seed round with Epstein and Joi Ito, then director of the MIT Media Lab. However, the email focuses on allocation sizing rather than strategic involvement.

“Hi Joi & Jeffrey; We are down to the wire on closing this round,” Hill wrote. “We are 10x oversubscribed on an $18m seed round and Reid at the last minute told us to bump your allocation from $50k to $500k.” The message illustrates how competitive that funding process had become by mid-2014.

In a later post, Back stressed that Blockstream did meet Epstein, who was characterized at the time as a “limited partner in Ito’s fund.” Moreover, he clarified that this Joi Ito fund later invested only a minority stake in Blockstream, limiting any indirect connection.

A few months after that investment, Ito’s vehicle divested its Blockstream shares due to a potential conflict of interest and other unspecified concerns. That said, the episode highlights how Epstein’s role as a limited partner in various funds made his capital pervasive across parts of the tech and fintech sectors, even when startups had no direct relationship with him.

Overall, the latest DOJ disclosures show how Epstein used venture networks to reach high-profile crypto companies like Coinbase and infrastructure players such as Blockstream, underscoring the lingering reputational risks around early-stage fundraising in the digital asset industry.