In brief
- Bitcoin Core dev Luke Dashjr has called on Blockstream CEO Adam Back to resign following the release of Jeffrey Epstein-related documents referencing crypto figures.
- Back confirmed that Epstein was briefly an investor in Blockstream, but has not addressed emails referring to a potential visit from Blockstream founders to Epstein’s island.
- Newly released files contain hundreds of references to Bitcoin and major crypto companies, including Coinbase and Blockstream.
Luke Dashjr, a longtime Bitcoin developer and early contributor to Blockstream, has called on Blockstream co-founder and CEO Adam Back to resign from his positions after newly released files connected convicted sex offender Jeffrey Epstein to figures across the cryptocurrency industry.
“These recent revelations about Adam and Epstein Island help shed light on some of Adam’s hostility toward me and his recent pro-spam gaslighting, but I never knew how bad and how deep the corruption went,” Dashjr said in a tweet on Tuesday.
Dashjr referred to a previous dispute regarding what he claimed was an earlier assurance that he would be recognized as a Blockstream co-founder, and treated equally with others involved at the company’s founding.
Dashjr said that Back “should consider resigning from all positions of authority and apologize to all the developers, investors, and Bitcoiners he’s misled along the way.”
His comments followed the release of a new tranche of documents from the U.S. Department of Justice related to Epstein last Friday. The millions of newly released files include extensive references to cryptocurrency, Bitcoin, and leading industry figures. According to a tally of mentions in the documents, Tether co-founder Brock Pierce appears 1,801 times, Bitcoin 1,522 times, Coinbase 266 times, and Adam Back 19 times.
Dashjr vs Back
The controversy has revived long-standing tensions between Dashjr and Back, who have publicly clashed for years over Bitcoin governance, scaling, and the direction of development. Dashjr has previously accused Back and Blockstream of exerting outsized influence over Bitcoin’s technical roadmap, accusations Back has rejected.
Nevertheless, the newly released documents show repeated dealings between Epstein and figures connected to Blockstream during the company’s early years.
In July 2014, Epstein’s staff discussed plans for him to travel to Montreal, where co-founder Austin Hill later wrote that the “Blockstream crew were well entertained” at a comedy event. Later that year, Epstein responded to an inquiry from Italian venture capitalist Vincenzo Iozzo about Back with the words, “like him.”
The documents have ignited scrutiny of links between Epstein and the crypto sector, including his interactions with Blockstream and its leadership. Emails from 2014, years after his conviction for sexual offenses against children, show Epstein corresponding with Blockstream co-founder Austin Hill about potential meetings, including a proposed visit to Epstein’s private Caribbean island, Little Saint James.
In a separate email to early Bitcoin developer Amir Taaki, Epstein claimed he had recently hosted “Andy Back” on the island, though it remains unclear whether such a visit took place, and whether the email was a misspelled reference to Adam Back or was discussing another individual.
To be sure, the emails do not indicate any evidence of wrongdoing on the part of those named.
Adam Back and Blockstream have not replied to Decrypt‘s outreach for comments regarding the revelations in the Epstein files.
Little Saint James, located in the U.S. Virgin Islands, has since become emblematic of Epstein’s abuse network. Prosecutors and survivors have described the island as a central site where Epstein trafficked and sexually abused underage girls, allegations that later formed the basis of criminal cases and civil lawsuits.
Back responded publicly after the release of the emails, stating that Epstein’s investment in Blockstream came indirectly through a fund associated with then–MIT Media Lab director Joi Ito.
According to Back, Epstein was described at the time as a limited partner in Ito’s fund, which took a minority stake in Blockstream during its 2014 seed round before later divesting. Back said Blockstream has “no direct nor indirect financial connection with Jeffrey Epstein, or his estate.”
Back did not address the references to his possibly having visited the island.
The Epstein files and crypto
Beyond Blockstream, the files detail Epstein’s involvement and interest with other crypto companies. They confirm that Epstein invested $3 million in Coinbase in 2014, when the exchange was valued at roughly $400 million. Coinbase now trades publicly, with a current market cap of about $45 billion.
The documents also contain numerous references to Brock Pierce, an early crypto investor, co-founder of Tether, and former chair of the Bitcoin Foundation, including investor updates and correspondence arranging meetings with Epstein.
Hill, Pierce, Blockchain Capital, Coinbase and the Bitcoin Foundation have also been approached for comment.
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