It seems that Blockchain Capital, one of the largest VC firms in the cryptocurrency and blockchain space, is having some issues with the history of the company and who are the founders of the company.
Who Are Blockchain Capital’s Founders?
Blockchain Capital has already invested in firms such as Augur (REP), Coinbase, Bancor, BitGo, Blcokstream, Block.One, and many others. A few days ago, Decrypt received an email from Blockchain Capital in which a spokeswoman informed that Brock Pierce, EOS co-founder and according to Decrypt, CoinDesk, Wikipedia and CNBC also the co-founder of Blockchain Capital, was not the co-founder of Blockchain Capital.
Decrypt released the email they have received:
“In your article, ‘Bitcoin became more popular during bear market, new study suggests’ you state that Blockchain Capital was ‘set up’ by Brock Pierce. This is incorrect. Brad and Bart Stephens started the company. Brock came in later and has long since left. By request of our outside counsel, would you please remove the reference to Brock in your article ASAP?”
However, Decrypt analyzed things a little bit further and mentioned that Wikipedia, CNBC and CoinDesk all have corroborated that Pierce co-founded the firm. Indeed, the archived version of Blockchain Capital website confirms it.
Thus, Decrypt asks why is Blockchain Capital trying to distance itself from Pierce. One of the reasons they noted could be related to the fact that Mr. Pierce faced alleged sexual misconduct lawsuits that were settled or dismissed. Thus, this could have harmed the company.
One of the sources that Decrypt talked with said that Pierce had been dropped for his unpredictable behavior such as the fact when he put billboards on Times Square in which he promoted the EOS ICO without the consent of Blockchain Capital. Although he still has ownership in the funds he worked on, he is not part of the new funds.
It is worth mentioning that Pierce remains amicable with the team at Blockchain Capital. Furthermore, Brock was involved in the company but Brad and Bart Stephens worked full time to build the firm.
Joanne Lauer, the spokeswoman that contacted Decrypt, said that the article could have ignored who founded the firm since it is not really relevant to the topic.