Blockstream CEO Adam Back publicly clarifies that he has no financial relationship with Epstein.
The Bitcoin (BTC) infrastructure developer Blockstream is once again in the spotlight after the U.S. Department of Justice released additional documents related to Jeffrey Epstein. Blockstream CEO Adam Beck has denied any financial relationship with Epstein, stating, "Blockstream has had no past or present financial relationship with Epstein."
The controversy began on January 30th when the Justice Department released millions of pages of additional documents under the Epstein Files Transparency Act. The documents, which name prominent figures in technology, finance, and politics, include emails between Blockstream co-founder Austin Hill and Jeffrey Epstein during a 2014 funding round.
Efstein appeared at an early seed investment presentation... He never received any funds directly.
CEO Adam Back explained why Epstein's name appeared in the documents, stating, "I was introduced to Epstein by Joi Ito, then director of the MIT Media Lab, when Blockstream was raising initial investment in 2014." At the time, Epstein was a limited partner (LP) in a fund managed by Ito.
Indeed, the fund later acquired a small stake in Blockstream, but reportedly sold all of its holdings within months, citing "potential conflicts of interest and ethical concerns." Blockstream emphasized that it had never received funding directly from Epstein or his foundation, and that it had no relationship with them since.
DOJ documents also reveal travel records and emails with various individuals.
The documents include emails from 2014 in which Austin Hill discussed Blockstream's investment success with Joey Ito and Epstein, as well as emails regarding a trip to St. Thomas (an island near Epstein's private property). While these emails contain private conversations and diplomatic details, no specific legal charges have been filed against Blockstream or its employees to date.
The Department of Justice stated that the presence of a name in a document does not constitute illegal activity. Nevertheless, voices demanding moral responsibility have grown louder, particularly within some cryptocurrency communities.
Epstein, who showed interest in Bitcoin, said, "Cryptocurrencies were also a topic of interest."
The released documents also reveal that Epstein had a significant personal interest in cryptocurrencies, including Bitcoin. He was known to have criticized some blockchain projects, such as Ripple (XRP) and Stellar (XLM), and attempted to propose a new digital currency concept.
The documents also mention various industry figures, including Kevin Warsh, one of President Trump's nominees for Federal Reserve Chairman. Additional documents released on January 31st also name Strategy co-founder Michael Saylor. According to the documents, he donated $25,000 to a charity event in 2010 and received tickets to a social event. In an email written by a social media PR professional, he was described as "zombie-like" and "socially misfit."
"If you've visited Epstein Island since 2008, you should question their morality."
Henrik Zeberg, chief economist at cryptocurrency research firm Swissblock, criticized the visit, saying, "If anyone visited Epstein's island after his 2008 conviction, it would be morally questionable." He added on social media, "Whether a politician, a billionaire, or even the President of the United States, doing so carries a greater moral responsibility."
Documents surrounding Epstein are expected to continue to surface in the coming months. As the cryptocurrency industry increasingly overlaps with established financial institutions and technocrats, this incident also raises fundamental questions about whether blockchain can maintain its core values of transparency and trust.
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