Brock Jeffrey Pierce (born November 14, 1980) is an American entrepreneur and previous actor recognized for his work within the cryptocurrency industry.
Pierce retired from acting at 17 and joined as a minor partner with Marc Collins-Rector and Chad Shackley in setting up a Digital Entertainment Network (DEN), which succeeded in raising $88 million in venture capital. DEN intended to supply unique episodic video content over the internet geared toward the area of interest to audiences. DEN was undoubtedly one of many dot-com startups that centered on creating and transporting original video content online in the late 1990s, earlier than the extensive adoption of broadband internet. Pierce produced its first show, a pilot for homosexual teenagers referred to as Chad’s world. As an 18-year-old, Pierce made $250,000 a year and held 1% of the enterprise’s shares.
DEN became slated for a US $75 million IPO in October 1999. However, the IPO become withdrawn in the wake of allegations of sexual attack against Collins-Rector. All three executives finally resigned, and layoffs followed in February 2000. While a new govt team led by using former Capitol data President Gary Gersh and previous Microsoft executive Greg Carpenter tried to salvage the organization and relaunch in May 2000, DEN filed for financial disaster and closed down in June 2000.
In 2000, 3 former DEN employees filed a lawsuit in opposition to the founding father of DEN. Also, they named Pierce as a defendant, alleging that they supplied the plaintiffs with drugs and compelled them for sex while Pierce and one of the plaintiffs were still teenagers. Pierce fled the USA, and Interpol had arrested him in 2002 in Marbella, Spain. And Pierce was released without being charged.
Not one of the accusations in opposition to Pierce has ever been corroborated. The primary plaintiff has been convicted of fraud and has admitted to submitting fake lawsuits in other sexual abuse cases. Allegations have been repeated inside the documentary An Open mystery about Pierce and convicted sex offender (and DEN co-founder) Marc Collins-Rector.
In 2013, Pierce joined brothers Bart and Bradford Stephens in founding venture capital company Blockchain Capital (BCC) which suggested to have raised $85 million in challenge funds by October 2017. Blockchain Capital raised the 3rd fund using digital protection imparting at the blockchain, one of the first traded security tokens.
Pierce labored with Mastercoin, a startup that raised capital via an initial coin supply (ICO) in 2013. In keeping with Bloomberg, this “kicked off a global ICO craze, with hundreds of startups elevating billions of greenbacks.”
In March 2014, Pierce and a set of investors filed a proposal to purchase the assets of Mt Gox using a Cypriot entity known as Slot Holdings Ltd. Mt Gox had shut down operations and filed for financial disaster in Tokyo after saying that it had lost 850,000 Bitcoin.
Pierce turned into elected Director of the Bitcoin Foundation in May 2014. Several members of the Bitcoin basis resigned over concerns about the directors. The organization introduced its insolvency in July 2015.
In a February 2018 issue of Forbes mag, Pierce was named within the “pinnacle 20 wealthiest people in crypto” with a predicted net worth between $700 million and $1.1 billion.
Pierce turned into a co-founder of the cryptocurrency Tether with Reeve Collins and Craig Sellars in 2014. Tether surpassed Bitcoin in buying and selling quantity with the very best daily and monthly trading extent of any cryptocurrency in the marketplace in 2019.
Tether is a so-known as the stable coin as it allegedly maintains 1 dollar in reserves for every Tether issued. In 2020, a court accepted the professional legally general of New York to pursue a declaration that Bitfinex, an affiliated exchange, did no longer expose the lack of commingled funds. In an interview in July 2020, Pierce stated his involvement in Tether ended in 2015 but defined Tether as “one of the essential innovations in currency.”