From: Richard Kahn

From: Richard Kahn To: "jeffrey E." <[email protected]> Subject: Coinbase Date: Tue, 30 Jan 2018 23:07:53 +0000 Inline-Images: image001.png please advise thank you Richard Kahn I IBRK Associates Inc. Begin forwarded message: From: W Bradford Stephens Subject: Re: Update Date: January 30, 2018 at 5:59:53 PM EST To: Richard Kahn Rich, Checking on the status of our transaction. Best, Brad W. Bradford Stephens 1cid:[email protected] Co-Founder and Managing Partner Blockchain Capital LLC www.blockchain.capital brad can you please call me on my cell to discuss attached email thank you EFTA00901772 Richard Kahn HBRK Associates Inc. Begin forwarded message: From: Darren Indyke Subject: Fwd: Update Date: January 29, 2018 at 4:11:40 PM EST To: Richard Kahn Cc: Darren Indyke DARREN K. INDYKE DARREN K. INDYKE, PLLC Telephone Telecopier. Mobile: email: fr. • fr. *Mint" ISM itilt It Ink It Mkt Tit Tit 11111***************.****11 Intl! *Ott RIM The information contained in this communication is confidential, may be attorney-client privileged, and is intended only for the use of the addressee. It is the property of Darren K. Indyke, PLLC. Unauthorized use, disclosure or copying of this communication or any part thereof is strictly prohibited and may be unlawful. If you have received this communication in error, please notify us immediately by return e-mail, and destroy this communication and all copies thereof, including all attachments. Copyright of Darren K. Indyke, PLLC - 2018 Darren K. Indyke, PLLC —All rights reserved. Begin forwarded message: From: Darren Indyke Subject: Re: Update Date: January 29, 2018 at 3:16:11 PM EST To: " Cc: Danner Intl> ke Hi, Brad. EFTA00901773 I know Jeffrey has received two other bids. He said he would prefer to sell to you. I don't want you to bid against yourself, but I suggest you come back to me with your best offer, and if it is accepted we will close by Friday. DARREN K. INDYKE DARREN K. INDYKE. PLLC Telephone: ( Telecopier: ( Mobile: email: • eittseittseittseittfritteitemm*******************************ten entire The information contained in this communication is confidential, may be attorney-client privileged, and is intended only for the use of the addressee. It is the property of Darren K. Indyke, PLLC. Unauthorized use, disclosure or copying of this communication or any part thereof is strictly prohibited and may be unlawful. If you have received this communication in error, please notify us immediately by return e-mail, and destroy this communication and all copies thereof, including all attachments. Copyright of Darren K. Indyke, PLLC - ID 2018 Darren K. Indyke, PLLC —All rights reserved. wroctrocsr. winfritent at tat tat teitest*********************************tennetnetneint On Jan 29, 2018, at 3:13 PM, W Bradford Stephens `t > wrote: Darren, Just checking on the status/timing of this. Let me know when you get a chance- I will be travelling most of next week and the following week. Best, Brad W. Bradford Stephens <image001.png> Co-Founder and Managing Partner Blockchain Capital LLC www.blockchain.capital Good morning, Brad. We recognize that the company's value is greater than $3 Billion already. So, we think a fair offer is $11 Million for 50% of our Coinbase position. Best, DARREN K. INDYKE DARREN K. INDYKE. PLLC EFTA00901774 Telephone: Telecopier: Mobile: email: t******Intitint****inhteletelettlettlettlette**************Intiestitiestite****************************tirritt************ The information contained in this communication is confidential, may be attorney-client privileged, and is intended only for the use of the addressee. It is the property of Darren K. Indyke, PLLC. Unauthorized use, disclosure or copying of this communication or any part thereof is strictly prohibited and may be unlawful. If you have received this communication in error, please notify us immediately by return e-mail, and destroy this communication and all copies thereof, including all attachments. Copyright of Darren K. Indyke, PLLC - ID 2018 Darren K. Indyke, PLLC —All rights reserved. ****IthiOntiOntiOntit**eftenrienrin **ins/Mit le********Inat Int fen *************** tr** ithitintOr*******t ettelenetent On Jan 21, 2018, at 5:35 PM, W Bradford Stephens c wrote: Darren, Good to hear from you so quickly. We do not have anything formal, in terms of paperwork. But if Jeffrey wants to sell his Coinbase position, we will have legal documents drafted to facilitate the purchase of the LLC that holds the position. We just raised a new fund, that does not have any exposure to Coinbase, thus we are looking for secondary positions to buy. Given Blockchain Capital has no direct relationship with Jeffrey, other than through Brock Pierce, and Brock left Blockchain Capital in May of 2017, we figured that Jeffrey may want to take the --$12m of profit from this $3m investment. We are in contact with a few other sellers at this price, in case Jeffrey does not want to sell his position. But due to the dedicated LLC structure you created to house the position, purchasing the position from Jeffrey appears to be the simplest, and doesn't need to go through Coinbase. Let us know Jeffrey's interest in moving forward. Best, Brad W. Bradford Stephens <image001.png> Co-Founder and Managing Partner Blockchain Capital LLC www.blockchain.capitai Invest alongside us or follow our individual investments at: https://angel.co/blockchain-ca pitalisyndicate EFTA00901775 Brad, Mr. Epstein is traveling. While he is away, can you send me papers on the proposed transaction so that I may review them before I present them to him? Best, Darren Indyke Sent from my iPhone. Please excuse the typos. On Jan 20, 2018, at 1:01 PM, W Bradford Stephens Darren, > wrote: Do you still work with Jeffrey? And if so, we are interested in buying the LLC below that we used to make this Coinbase investment. We did this investment at a $400m valuation. The company just raised money at a 1.6b valuation, and we would be willing to buy the position from you at a $2b valuation. We would pay $15m for this $3m investment. Let us know if there is any interest. W. Bradford Stephens Co-Founder and Managing Partner Blockchain Ca ital LLC www.blockchain.capital On Dec 4, 2014, at 5:02 AM, Darren Indyke c wrote: IGO Company, LLC, which is a USVI limited liability company. Sent from my iPhone On Dec 3, 2014, at 6:24 PM, W Bradford Stephens > wrote: Darren, Here is the information about the financing from Coinbase's lawyers. When we figure out which LLC will be making the $3m investment, we will ave them change the name of the investing entity. EFTA00901776 Wire instructions are also included below. -Brad W. Bradford Stephens <7A324F8A-89AA-45E3-9770-CO9FDDDD0738[20].png> Blockchaimcapital LLC vww•Blockchain Capital Brad, Attached are the following: 1. Signature Page Packet. 2. Executed Series C financing documents and filed charter for your reference. Please note that your exact investment amounts will be as follows (the purchase price per share is $16.58926): Series C Shares Purchase Price Crypto Currency Partners II LLC 180,840 $3,000,001.78 Crypto Currency Partners II LP 12,056 $200,000.12 Crypto Currency Partners LP 3,014 $50,000.03 Total 195,910 $3,250,001.93 Coinbase's wire instructions are as follows: Wire Instructions Account #: Routing #: Account name: Coinbase, Inc. Address: Bank Name: Silicon Valley Bank Bank City and State: Santa Clara, CA Please let us know of any questions. Best, Josh ;;image removed by sender. JOSH POLLICK Associate ORRICK. HERRINGTON 8, SUTCLIFFE LLP EFTA00901777 Mob& • vaL:Iti From: W Bradford Stephens [mailto: Sent: Wednesday, December 03, 2014 1:03 PM To: Pollick, Josh Cc: Brock Pierce; Bart Stephens; Mary Williamson Subject: Re: Update Josh, We will be investing $3,250,000. This will be coming from three entities, listed below: $3,000,000 from 'Crypto Currency Partners II LLC' $200,000 from 'Crypto Currency Partners II LP' $50,000from 'Crypto Currency Partners LP' Our address is below, and I am the signing entity for all three as the 'Managing Partner' What else do you need from us? -Brad W. Bradford Stephens Blockchain .capit al 1.1.O u‘nv.131(KcchainA:apital Ok. We should be able to accommodate that. Including Josh from our legal who can get you the proper docs. I'm not sure the availability will last, but if you find you want to do more it's probably worth a ping. On Wednesday, December 3, 2014, W Bradford Stephens wrote: Fred, We have spoken to our investors and we would like to invest $3,25O,OOO into your current round. Although a smaller investment than we originally discussed, we are glad we were able to get this together given the extremely short fuse on timing. Assuming you are okay with our smaller participation, lets move forward with next steps of legal docs and wires. We are excited to be involved, EFTA00901778 Brad W Bradford Stephens t From: Fred Ehrsam < > Date: Wednesday, December 3, 2014 at 8:05 AM To: W Bradford Stephens < Cc: Brock Pierce <[email protected]>, Bart Stephens <[email protected]>, Maia Carpenter Subject: Re: Update Ok. I have a gap between noon and 3 PM today, but again, not crucial for me, but would be nice to meet him if convenient. Is it important for him? On Wednesday, December 3, 2014, W Bradford Stephens < > wrote: Fred, I apologize for the lack of communication - Jeff was in a full afternoon board meeting yesterday. Brock is working with his EA to ideally find a time for you two to meet today. We will be back to you shortly. Brad Sent from the Mobile Brad Network. On Dec 3, 2014, at 6:14 AM, Fred Ehrsam < > wrote: Hey guys - wanted to check in as you said you'd be back yesterday. Fred Ehrsam Coinbase San Francisco, CA, USA Fred Ehrsam Coinbase San Francisco, CA, USA EFTA00901779 Fred Ehrsam Coinbase San Francisco, CA, USA NOTICE TO RECIPIENT I This e-mail is meant for only the intended recipient of the transmission. and may be a communication privileged by law. If you received this e-mail in error. any review, use, dissemination, distribution, or copying of this e-mail is strictly prohibited. Please notify us immediately of the error by return e-mail and please delete this message from your system. Thank you in advance for your cooperation. For more information about Orrick. please visit <image001.png> <image002.gif> <image003.png> <Coinbase - Series C - AR Charter (Filed 12-1-14).pdf> <Coinbase - Series C - Investors Rights Agreement.pdf> <Coinbase - Series C - Preferred Stock Purchase Agreement.pdf> <Coinbase - Series C - Right of First Refusal and Co-Sale Agreement.pdf> <Coinbase - Series C - Voting Agreement.pdf> <Coinbase - Series C - Signature Page Packet (Crypto Currency Partners).pdf> <image002.gif> <image003.png> <image001.png> <image001.png> EFTA00901780