Newly released Department of Justice documents expose Jeffrey Epstein’s proposal for a “sharia-compliant digital currency” and his influential, early investments in Bitcoin, Coinbase, and MIT’s Digital Currency Initiative—alongside his close relationships with key crypto developers.
By yourNEWS Media Newsroom
Newly disclosed emails from the Department of Justice (DOJ) reveal that Jeffrey Epstein proposed creating a “sharia-compliant digital currency” for use in the Middle East, while also positioning himself as an early and influential figure in the cryptocurrency world. The documents, released as part of the ongoing Epstein investigation, show his deep financial ties to Bitcoin, Coinbase, and the Massachusetts Institute of Technology’s (MIT) Digital Currency Initiative (DCI), as well as his direct interactions with some of the technology’s most prominent developers.
A “Sharia Coin” for the Middle East
In a 2016 email to Raafat Al-Sabbagh, a Saudi court advisor, Epstein outlined his vision for “two new currencies”, including a digital currency designed to comply with Islamic financial principles. “[T]he two more radical ideas would be to form two new currencies, one called the sharia,” Epstein wrote. “[It] would be like a dollar but every dollar has printed on it in god we trust. [T]he middle east could have its own sharia, for internal use amongst [M]uslims.”
He continued, “[In addition] a digital currency like bitcoin could be used to form a new sharia compliant digital [currency]. [V]ery exciting.” Epstein claimed he had discussed the idea with “some of the founders of bitcoin,” who were “very excited” about the prospect.
Early Crypto Investments and Influence
The DOJ files confirm Epstein’s role as an early cryptocurrency investor and patron. A 2015 email reveals a $3,000,001 investment in Coinbase, one of the world’s largest crypto exchanges. Additionally, Epstein contributed $850,000 to MIT’s Digital Currency Initiative through ten separate donations, according to an MIT report.
Joichi Ito, the former director of MIT’s Media Lab, thanked Epstein in a 2015 email for his “gift funds,” which allowed the DCI team to “move quickly” on research. Ito later resigned in 2019 after his financial ties to Epstein were exposed.
Close Ties to Bitcoin’s Pioneers
Epstein’s connections extended to key Bitcoin developers. In one email, Ito invited Epstein to a meeting with Jeremy Rubin, a DCI co-founder and Bitcoin developer, and Adam Back, founder and CEO of blockchain company Blockstream. “I think we should have a meeting with Jeremy Rubin, Adam Back (or other core developer of bitcoin), Seth, Martin Nowak, you and a few others soon about money and the future of finance,” Ito wrote.
Rubin, in a 2015 email, directly asked Epstein for funding: “I was wondering if you would be interested in financing my continued research in this space, or if there are any projects you’d want to push forward [that] I might play a roll in.” Epstein agreed and later offered to pay Rubin’s MIT tuition, proposing he work for him.
Rubin acknowledged his “some professional engagement” with Epstein in a recent X post, stating he was “glad the emails are being released.”
Private Island Meetings
Epstein’s influence reached beyond financial support. He invited Adam Back and Blockstream co-founder Austin Hill to his private island, Little St. James. In one email, Epstein wrote, “I have Andy Back on my island this weekend,” while Hill arranged a visit, writing, “Sunday in NY I think is a no-go because of our commitments on the west coast, but Fri/Saturday on the Island are still possible.”
Back later distanced himself from Epstein in an X post, stating that Blockstream had “no direct nor indirect financial connection” to Epstein, though he acknowledged Ito’s role in facilitating their interactions.
A Legacy of Controversy
The newly released emails add another layer to Epstein’s complex and controversial legacy, revealing his ambitions to shape the future of digital finance—including a sharia-compliant cryptocurrency—while cultivating relationships with the architects of Bitcoin. His financial contributions to MIT, Coinbase, and early crypto developers underscore his early, if shadowy, influence in the industry.
As investigators continue to scrutinize Epstein’s network, these documents provide a rare glimpse into his strategic investments, ideological ambitions, and personal connections within the cryptocurrency world—connections that persist as a subject of both fascination and scrutiny.
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