Blockstream

Documents released by the U.S. Department of Justice show Jeffrey Epstein invested about US$500,000 in a 2014 seed round for Montreal-founded Bitcoin firm Blockstream. The investment was made via Kyara Investments III, co-owned with former MIT Media Lab director Joi Ito.

Blockstream chief executive Adam Back said the stake was sold months later due to conflicts and that neither Epstein nor his estate has any financial connection today. Digital Garage later invested in subsequent rounds. Emails indicate meetings in 2014 and an increased allocation despite oversubscription. Blockstream declined further comment.

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Blockstream is pushing deeper into mainstream finance through its investment arm, Blockstream Capital Partners, which has acquired New Jersey-based hedge fund Corbiere Capital Management. The move supports Blockstream’s ambition to offer investment products spanning bitcoin and traditional assets, though deal terms were not disclosed.

It follows a busy year for the Montreal company, which split into three entities in April and has been actively deploying capital. Blockstream Capital bought Switzerland’s Berglinde last fall and, in January, led a US$75-million funding round for Komainu funded entirely in bitcoin. Founded in 2014, Blockstream has long focused on expanding Bitcoin’s adoption and infrastructure.

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