According to email documents recently released by the U.S. Odaily of Justice, Jeffrey Epstein invested approximately $3 million in Coinbase in 2014 through his entity IGO Company LLC, participating in the Series C funding round, which valued the company at approximately $400 million at the time.
Email correspondence shows that Coinbase co-founder Fred Ehrsam was aware of the investment and had expressed a desire to meet with Epstein to discuss the arrangements. The investment opportunity was initially facilitated by Tether co-founder Brock Pierce and his venture capital firm, Blockchain Capital. Blockchain Capital stated that Epstein did not invest through his fund but rather completed the transaction directly through a personal entity.
The Justice Department's asset list also shows that Epstein had a record of $3.001 million in assets under his name at the end of 2014 for the "purchase of Coinbase". Related emails also show that Epstein sold half of his Coinbase stake to Blockchain Capital in 2018, cashing out approximately $15 million.
Furthermore, the documents also show that Epstein invested in Blockstream in its early stages in the crypto space. The report states that, as of now, Coinbase, Fred Ehrsam, and Brock Pierce have not issued any further public statements regarding this matter. (Decrypt)
