New documents released by the U.S. Department of Justice have placed prominent crypto figures, including Blockstream CEO Adam Back and billionaire investor Peter Thiel, in direct correspondence with the late sex trafficker Jeffrey Epstein. The files, released under the Epstein Files Transparency Act, contradict earlier assumptions about the industry’s distance from the disgraced financier.
The Blockstream Connection
The most specific revelation targets Bitcoin infrastructure firm Blockstream. A 2014 email chain shows co-founder Austin Hill communicating with Epstein and Joi Ito (then-director of MIT Media Lab) regarding the company’s seed round. In one message, Hill explicitly notes that Epstein’s allocation was being increased tenfold, from $50,000 to $500,000.
Another document, a travel itinerary dated April 2014, lists Adam Back alongside Epstein for a trip to St. Thomas. Epstein’s assessment of Back in a subsequent November 2014 email was brief:
“I like him.”
Back addressed the release on X (formerly Twitter), denying any direct relationship. He characterized the interaction as a “brief, indirect touchpoint” mediated by Joi Ito. According to Back, Epstein was a limited partner in Ito’s fund, which took a minority stake in Blockstream that was divested months later due to “potential conflict of interest.”
Thiel’s Regulatory Channel
The files also expose a direct line between Epstein and Peter Thiel. In a July 2014 exchange, Thiel sought Epstein’s perspective on government scrutiny of Bitcoin, asking: “Do you think this is the first step in upping the anti-BTC pressure?”
The correspondence continued through 2018, with Epstein inviting Thiel to visit him in the Caribbean. The release does not implicate Thiel or Back in any criminal activity, but the casual proximity to Epstein, viewed as a strategic networker for crypto regulation, raises reputational questions for the industry’s “cypherpunk” roots.
The “Satoshi” Claim
Perhaps the most bizarre detail is an October 2016 email where Epstein pitches a “Sharia-compliant” digital currency to Saudi contacts. In it, Epstein claims to have “spoken to some of the founders of Bitcoin” who were allegedly “very excited” about the project. The identity of these “founders” remains unverified.
