Convicted sex offender Jeffrey Epstein made an early investment into Coinbase Global Inc. in 2014, putting roughly $3 million into the cryptocurrency exchange, according to emails released by the U.S. Department of Justice and reviewed by Decrypt.

The investment came six years after Epstein pleaded guilty in Florida state court to the charges of procuring a child for prostitution and soliciting a prostitute. Following the conviction, Epstein served 13 months of an 18-month prison sentence and, from 2008 on, was a registered sex offender, the news outlet said. 

The 2014 investment opportunity was initially offered to Epstein by Tether co-founder Brock Pierce, then a managing partner at venture fund Blockchain Capital, with Blockchain Capital co-founder Brad Stephens also involved, Decrypt said. When the Blockchain deal fell through for undisclosed reasons, Epstein made the investment through a U.S. Virgin Islands-based entity called IGO Company LLC.

Emails cited by Decrypt indicate Coinbase co-founder Fred Ehrsam was aware Epstein was behind the deal. During negotiations, Ehrsam sought to arrange a meeting with Epstein through Blockchain Capital, though it remains unclear whether any meeting occurred. 

“I have a gap between noon and 3pm today, but again, not crucial for me, but would be nice to meet him if convenient,” Ehrsam wrote in an email cited in the report. “Is it important for him?”

Epstein, who made the investment at a time when Coinbase was valued at approximately $400 million, sold half of his Coinbase equity back to Blockchain Capital in 2018 for nearly $15 million, the news outlet said.

Read more at Decrypt