Jeffrey Epstein proposed a Sharia-compliant digital currency in 2016 and communicated with multiple tech figures.
Blockstream CEO Adam Back responded to newly released Epstein documents by denying any financial connection between his company and Epstein. The U.S. Department of Justice released a new batch of records under the Epstein Files Transparency Act. Back’s statement followed reports linking Blockstream’s 2014 funding round to Jeffrey Epstein and MIT Media Lab’s Joi Ito.
In a 2014 email, Blockonomi earlier reported that Blockstream co-founder Austin Hill addressed Jeffrey Epstein and Joi Ito regarding a seed funding round. Hill said the round was oversubscribed and mentioned an increased allocation from $50,000 to $500,000 for Epstein. Adam Back was included in the same email thread, which showed communication between all parties during the funding process.
In another document, Hill informed Epstein’s associate Daphne Wallace about travel arrangements involving St. Thomas, referencing Adam Back in the same thread. Hill said they were “happy to arrange for our own flights” after the St. Thomas stop. The destination raised questions due to its proximity to Epstein’s private island.
Back confirmed that the company met Jeffrey Epstein through Ito during their investor roadshow. He stated, “Blockstream has no direct nor indirect financial connection with Jeffrey Epstein or his estate.” Hill reposted Back’s full statement on the social media platform X, reaffirming the company’s position.
Back added that Epstein was introduced to them as a limited partner in Ito’s fund, which held a minority stake. He said the fund later divested its Blockstream shares due to a possible conflict of interest. However, Back did not address the specific travel emails involving St. Thomas mentioned in the DOJ documents.
The newly unsealed documents show Jeffrey Epstein had conversations about crypto with Peter Thiel in July 2014. In an email, Epstein questioned Bitcoin’s purpose, saying, “There is little agreement on what Bitcoin is.” He also mentioned the contradictions between transparency and anonymity in the technology.
Other emails revealed Hill discouraged Ito and Epstein from backing Stellar and Ripple. He claimed those projects were “bad for the ecosystem” and conflicted with Blockstream’s goals. Hill also warned that supporting multiple crypto ventures could damage trust and company stability.
One of Jeffrey Epstein’s emails from 2016 showed he proposed digital currency plans to Saudi Arabian officials. He outlined a physical fiat currency called “the Sharia” and a Bitcoin-based digital currency. The proposal included goals for internal Muslim financial systems and regional currency innovation.
Other tech and finance names appeared in the unsealed records, including Michael Saylor and Kevin Warsh. Warsh was recently nominated as the next Federal Reserve chair. These names surfaced within over six million pages released under the new transparency law.
