Emails released from Jeffrey Epstein’s estate reveal connections between the disgraced financier and Brock Pierce, a cryptocurrency entrepreneur and co-founder of stablecoin issuer Tether. The correspondence discusses a meeting between Epstein and Pierce at Epstein’s Manhattan townhouse, which occurred after Epstein’s conviction as a sex offender in 2008.
The emails suggest that Pierce engaged in discussions about Bitcoin with former U.S. Treasury Secretary Larry Summers. In an unpublished article intended for New York Magazine in 2015, these dialogues were meant to be highlighted as part of a broader exploration of Epstein’s high-profile guests. During their meeting, Pierce informed Summers that he regarded himself as “the most active investor in Bitcoin” and pointed out the volatility of Bitcoin prices. Summers, while seeing potential in Bitcoin, expressed concerns about his reputation, noting that a poor investment could diminish how he was perceived in intellectual circles.
The article depicted Summers contemplating the implications of investing in such a nascent asset, stating, “I could go from being seen as a figure of some probity and some intelligence to being a figure of much less intelligence and much less probity.” The conversation, which lasted only a few paragraphs, concluded with Pierce cautioning that “you’re going to have some low-quality characters playing early in the space.”
Brock Pierce’s ties to Epstein have come under scrutiny in the past, including a visit he made to Epstein’s private island for a scientific conference in 2011. In 2019, Pierce’s spokesperson asserted that any communication between them was limited to cryptocurrency topics and occurred at industry events where other prominent individuals were present.
The newly released materials indicate that Epstein may have played a more significant role in Pierce’s business endeavors than previously understood, serving as a bridge to influential figures in traditional finance during a time when Bitcoin was still gaining traction. Notably, Peter Thiel, a co-founder of PayPal and an early institutional investor in Bitcoin, was also mentioned in connection with Epstein’s schedule around the time of Pierce’s conversations with Summers.
The emails show that journalist Alex Yablon was fact-checking the potential article in March 2015, posing critical questions about the meeting and the involvement of Summers and Pierce. Epstein’s response to Yablon’s inquiries included forwarding the questions to author Michael Wolff, indicating a strong desire to distance himself from the implications of those connections.
Wolff has faced scrutiny due to his association with Epstein, particularly during the 2016 election when he advised Epstein on leveraging his past connections with Donald Trump to potentially “generate a debt.” Wolff has defended his interactions with Epstein, stating that they were primarily about gaining access and not about offering assistance to a convicted individual.
The intricate web of connections revealed in the emails raises questions about the relationship dynamics within the cryptocurrency sector during its formative stages and how they intersected with notable figures from traditional financial backgrounds.
