How a Former Child Actor Brock Pierce Built a Career on Borrowed Credibility and Broken Promises
This investigation combines publicly available sources to document how Brock Pierce has systematized fraud through the deliberate construction and maintenance of a false image, then weaponized that image to extract value from partners, employees, investors, and entire communities. This is part four of a multi part series by Jeremy Ryan AKA NFT Demon writing as a guest writer for this site. Part 1 covered extensively a $334 million scam Brock knowingly ran in late 2025. Part 2 covered an Epstein file showing Brock was the only person Jeffrey Epstein thought of when talking about money laundering. And Part 3 covered in depth his fake charity work. All parts are impeccably sourced and indisputable even by Brock.
The Architecture of a Scam
Brock Pierce has mastered a formula that would make any con artist blush: take two things you did early in your career, exaggerate your role in them relentlessly, and use that fabricated legacy to gain credibility for everything else you touch. The result? One of crypto’s most notorious fraudsters operating in plain sight, using a carefully constructed false image to prey on partners, employees, and investors alike.
This is not a story about bad business acumen or failed ventures. This is a story about deliberate deception—a calculated effort to maintain a false image through fake endorsements, exaggerated credentials, manipulation of business partners, and the kind of institutional neglect that shuts down hospitals three weeks before Christmas while workers go unpaid.
The Two Pillars of False Credibility: Tether and Bitcoin Foundation
Pierce’s entire reputation rests on two claims: that he was a co-founder of Tether, and that he served as Chairman of the Bitcoin Foundation. Both claims are substantially misleading, and both are fundamental to how he sells himself to new victims.
Tether: Building a House of Cards, Then Leaving When It Started Making Money
In 2013, Pierce did help establish Tether, the cryptocurrency that would eventually become one of the world’s most controversial financial products. But here’s the critical fact: he left in 2015 when Tether was unstable, often trading around $0.50 and with a market cap of around $1 million—but indisputably before Tether became anything significant[1].
According to Bloomberg’s comprehensive investigation, Pierce “transferred 100 percent of his shares to our minority partners in exchange for zero consideration” in 2015[2]. At the time, Tether was an interesting experiment. By 2017, thanks to his departure, it had reached $1.4 billion in market cap. Today, Tether processes over $50 trillion annually in transaction volume[3].
Industry insiders have suggested that Pierce’s departure may not have been a clean break. According to CoinGeek’s investigation, “Pierce and his partner did not leave, but were still involved via nominees and complex offshore structures, which are likely in violation of the U.S. tax law, among other regulations”[4]. In short they were robbing and holding up the success of the token in which they created.
Yet Pierce continues to call himself a “Tether co-founder” as his primary credential—as if he had something to do with the $68 billion stablecoin empire that exists today. In reality, he got out early, transferred his shares for nothing, and then spent the next decade leveraging that ancient history to gain credibility.
Bitcoin Foundation: Chairman for One Year Before Institutional Collapse
Pierce’s second pillar of credibility came in May 2014, when he was elected to the board of the Bitcoin Foundation. Within a year, he was named Chairman[5].
What happened next? Disaster.
The resignations were immediate. When Pierce was elected to the board in May 2014, at least ten members resigned. Reuters reported that resigning members “pointed to Pierce’s problematic history,” specifically referencing underage rape allegations made in the 1990s involving his former company, Digital Entertainment Network (DEN)[6]. He would later be caught in Spain arrested in a house he shared with two colleagues and over 9,000 images of child pornography. [27] Nobody was charged because officials couldn’t tell who it belonged two and all three arrested denied it.
Despite this, Pierce became Chairman in April 2015. The decision was so controversial that the foundation’s General Counsel at the time acknowledged: “Democracy can be messy at times.”[7]
By October 2015—just six months after Pierce became Chairman—the Bitcoin Foundation was in freefall. At a board meeting, Pierce himself announced that the foundation was “close to running out of money”[8]. The organization that was supposed to represent Bitcoin development and adoption was falling apart.
By April 2015, the organization was hemorrhaging talent. Chief scientist and Bitcoin co-founder Gavin Andresen departed to join MIT’s Digital Currency Initiative, taking two other developers with him[9]. The symbolic message was clear: the Bitcoin Foundation had failed in its core mission.
Pierce attempted to revive it by asking board members to each contribute $10,000 to keep the lights on[10]. That didn’t work either. Instead it went into bankruptcy, existing in name only ever since.
Today, Pierce routinely identifies himself as “Chairman of the Bitcoin Foundation” in media interviews and business pitches—despite the fact that the foundation effectively went bankrupt on his watch and he left it to collapse[11].
So Pierce’s two pillars of credibility are: (1) leaving Tether before it succeeded, and (2) being Chairman of an organization that failed during his tenure. Yet these are precisely the credentials he uses to pitch new ventures.
The Fake Magazine Covers: When Credibility Gets Manufactured
If his real credentials were insufficient, Pierce simply decided to create new ones.
In what can only be described as breathtaking audacity, Pierce purchased fake magazine covers from Forbes [28], Rolling Stone [29], and Elle [30]—and then posted them to Facebook and Instagram, pinning some to his Instagram profile[12]. Same writing style, same pictures, same puffery, even posted in the same week.
These were not legitimate magazine features. They were fabricated covers created by sham websites impersonating major publications. A call to the parent companies of both Rolling Stone and Elle was met with a singular response. They do not endorse the content on those sites nor the validity of it. Something that is supposed to be clearly stated on the site as part of the licensing deal with a PR firm. When informed the disclosures were not taking place they assured me it would be investigated.
According to investigation, the fake Forbes covers came from forbesfounder.com, a domain that has nothing to do with Forbes magazine. A WHOIS search reveals that forbesfounder.com is registered to an individual in India, with the email address yourprshop@gmail.com and domain privacy disabled[13].
The fake covers and articles were posted across Pierce’s social media as if they were real endorsements from major publications—a textbook case of fraud designed to deceive followers into believing that Forbes, Rolling Stone, and Elle had actually published features about him. He even liked comments from people congratulating him. Here’s a couple such posts as reels [31] (Brock Pierce has me blocked on Instagram). On one of them Sarah Grace Manski, a past professor at George Mason University who really should have known better, even argued with me that he wouldn’t fake such a thing. I think she owes me an apology and perhaps should do some research.
This is not a gray area. This is not a matter of interpretation. Pierce deliberately created and distributed fake magazine covers to inflate his credibility. The evidence is public, the cover-up is brazen, and the intent is unmistakable.
The Pardon Hustle: $30 Million Gambit Based on Fake Connections
In early 2025, Pierce attempted one of his most audacious schemes yet: selling a presidential pardon for $30 million.
According to Bloomberg reporting, Pierce and a supplement salesman named Matt Argall approached Bitcoin Cash advocate Roger Ver with an offer: they claimed to have connections to the Trump administration and could secure him a pardon for his tax evasion charges in exchange for $30 million[14].
The scheme was structured as a success fee arrangement: $10 million upfront to a trustee account, with another $20 million to be paid only if the pardon came through.
The White House immediately denied any knowledge of the deal. Harrison Fields, a Trump administration spokesman, stated: “The pardon process is a serious one, and outside grifters trying to make a big buck by overstating access to the White House will realize that soon enough”[15].
According to Bloomberg’s investigation, Pierce and Argall were lying about their access to Trump’s pardon apparatus or even his administration. They had no actual connections to the people who handle clemency decisions[16].
This is the anatomy of a scam: take someone desperate (Ver facing potential prison time), create a false narrative about your connections to power, charge an enormous fee, and walk away when questioned.
The Philanthropist Facade: Promise Aid, Deliver Collapse
Pierce’s image-making extends to positioning himself as a philanthropist and helper of Puerto Rico. His social media is filled with posts about his charitable work, his commitment to the island, and his vision for economic development.
The reality is catastrophically different.
The Hospital Shutdown: “Three Weeks Before Christmas”
In December 2024, Pierce was celebrated for acquiring Hope Medical Center in Humacao, Puerto Rico. He posted on Facebook: “We opened a Hospital in Puerto Rico! With immense joy I share with you the story of the Hope Medical Center in Humacao, Puerto Rico”[17].
Less than a year later, the hospital shut down suddenly—three weeks before Christmas—leaving employees unpaid with no warning and no return date. Brock was partying at Art Basel in Miami when he made the call.
According to investigative reporting by Centro de Periodismo Investigativo (CPI), employees who had worked extra shifts to pay for Christmas gifts were left devastated. One emergency room nurse, who had worked for the hospital, told CPI:
“I had to tell my son, ‘Santa Claus can’t come’…when my 10-year-old still had that illusion”[18]
Another employee, who had worked extra shifts to save money for gifts, said:
“I worked four extra shifts so I could buy gifts for the kids. And I ended up with nothing—no rope, no goat—just me”[19]
Employees had not been paid since the day after Thanksgiving. They were “temporarily suspended” without notice and without a return date, left in the middle of the holiday season with no income and no explanation[20].
Puerto Rico Health Secretary Víctor Ramos Otero attributed the closure to “mismanagement” and noted that the hospital violated law by failing to follow proper closure procedures—the agency received only a letter notifying them after the fact, not beforehand[21].
Unpaid Debts: A Pattern of Exploitation
The hospital was only one example of Pierce’s pattern of non-payment. According to court filings and news reporting, Pierce has accumulated a documented pattern of failing to pay his debts:
The W Hotel Dispute: Pierce borrowed $10 million from investor Joseph Lipsey III for a hotel project. Lipsey alleges Pierce violated their agreement by misappropriating funds, spending money on private jet flights and a 72-hour birthday party (“Brock Pierce’s Odyssey Birthday Celebration: Three Mythical Events”) rather than hotel renovation[22].
The Missing Commission: Developer Gonzalo Gracia helped Pierce acquire the W Hotel, representing him in meetings and arranging an architect. Once the deal was finalized, Pierce cut Gracia out of the project and refused to pay him a $790,000 commission[23].
The Yacht Repairs: Pierce’s yacht manager, Hugo De la Uz, claimed that Pierce and De la Uz co-owned the yacht but Pierce refused to pay for repairs, even as one engine “could shut down at any time for no reason” and the yacht was “collecting water and slowly sinking into the Caribbean Sea”[24].
The Basketball Sponsorship: A representative for Puerto Rican basketball team Mets de Guaynabo demanded more than $25,000 from Pierce that he owed for a sponsorship deal[25].
The Hospital Supply Debt: Hope Medical Center faced nearly $500,000 in collection lawsuits in Puerto Rico courts, some already resolved, including a lawsuit from PR Health Management Group seeking $118,257 for unpaid emergency room management fees, and failures to pay for medicines and cleaning products[26].
This is not a case of one business failure. This is a documented pattern of extraction: Pierce works with local partners, makes promises, takes their money or work, fails to pay, and moves on to the next victim.
The Playbook: How False Image Enables Exploitation
Pierce’s method is systematic:
- Build credibility through exaggerated claims about past achievements (Tether co-founder, Bitcoin Foundation Chairman—both technically true but substantially misleading about his involvement).
- Amplify credibility through fake media coverage (forbesfounder.com covers posted to social media as real endorsements).
- Use inflated credibility to attract partners and investors who believe they are working with a legitimate operator.
- Extract value through promises of investment, philanthropic work, or partnership opportunities.
- Fail to deliver on commitments, refuse to pay debts, and claim victimhood or misunderstanding when confronted.
- Move on to the next project with the same falsified credibility intact.
The fake magazine covers are not a side note to this story. They are central to how it works. Each fake Forbes cover, each fabricated Rolling Stone article, each spurious Elle feature serves to reinforce the false image that makes victims believe Pierce is legitimate. Enough even to fool a former professor at George Mason University.
Conclusion: The Emperor’s New Crypto
Brock Pierce has built an empire on fabrication. His two main credentials—Tether co-founder and Bitcoin Foundation Chairman—are presented without context that reveals their actual meaning: he was marginally involved in one project before it became successful, and he led another organization into collapse and bankruptcy.
He has manufactured fake magazine covers to inflate his image. He has used a fake pardon scheme to extract millions from desperate people. He has shutdown hospitals three weeks before Christmas, leaving workers unpaid. He has accumulated millions in unpaid debts across Puerto Rico while positioning himself as a philanthropist.
Most damningly, he continues to operate using the same false image that has enabled all of this—because the cost of maintaining that image has been borne entirely by his victims.
Until he is held accountable—whether through litigation, regulatory action, or law enforcement—Pierce will continue to use false credibility to enable exploitation, leaving a trail of unpaid debts, broken promises, and devastated lives in his wake. The only other hope is for the crypto community to start holding bad actors accountable but that is so long overdue its not even a legitimate consideration.
The magazine covers were just the most obvious manifestation of a deeper truth: Brock Pierce is a masterclass in how to build a career on fabrication, one false credential at a time.
References
[1] Yahoo Finance. “Tether co-founder Brock Pierce teases possible return to Hong Kong for a third time.” June 2, 2024. https://finance.yahoo.com/news/tether-co-founder-brock-pierce-093000947.html
[2] CoinGeek. “Brock Pierce, risky loans, plastic surgeon and bullying – inside Tether’s $68B house of cards.” June 7, 2023. https://coingeek.com/brock-pierce-risky-loans-plastic-surgeon-and-bullying-inside-tether-68b-house-of-cards/
[3] The Street. “Brock Pierce outlines how Tether’s founding drove transaction volume success.” May 13, 2024. https://www.thestreet.com/crypto/innovation/brock-pierce-outlines-tether-founding-transaction-volume-success
[4] CoinGeek. “Brock Pierce, risky loans, plastic surgeon and bullying – inside Tether’s $68B house of cards.” June 7, 2023. https://coingeek.com/brock-pierce-risky-loans-plastic-surgeon-and-bullying-inside-tether-68b-house-of-cards/
[5] Los Angeles Business Journal. “L.A. Angel Investor Named Chair of Troubled Bitcoin Foundation.” April 23, 2015. https://labusinessjournal.com/technology/l-angel-investor-named-chair-troubled-bitcoin-foun/
[6] Reuters. “Bitcoin Foundation hit by resignations over new director.” May 16, 2014. https://www.reuters.com/article/technology/bitcoin-foundation-hit-by-resignations-over-new-director-idUSBREA4F02B/
[7] Reuters. “Bitcoin Foundation hit by resignations over new director.” May 16, 2014. https://www.reuters.com/article/technology/bitcoin-foundation-hit-by-resignations-over-new-director-idUSBREA4F02B/
[8] Unblock.net. “The Bitcoin Foundation: An Introduction.” September 27, 2021. https://unblock.net/the-bitcoin-foundation-an-introduction/
[9] Los Angeles Business Journal. “L.A. Angel Investor Named Chair of Troubled Bitcoin Foundation.” April 23, 2015. https://labusinessjournal.com/technology/l-angel-investor-named-chair-troubled-bitcoin-foun/
[10] Unblock.net. “The Bitcoin Foundation: An Introduction.” September 27, 2021. https://unblock.net/the-bitcoin-foundation-an-introduction/
[11] Yahoo Finance. “Tether co-founder Brock Pierce teases possible return to Hong Kong for a third time.” June 2, 2024. https://finance.yahoo.com/news/tether-co-founder-brock-pierce-093000947.html
[12] Facebook. Brock Pierce. https://www.facebook.com/brockpierce/ (Access to social media posts showing fake magazine covers)
[13] WHOIS Search Results. forbesfounder.com domain registration showing India-based registration with email yourprshop@gmail.com. https://www.whois.com/whois/forbesfounder.com
[14] Binance Square. “$30M scheme to buy Trump pardon for Roger Ver collapses.” August 17, 2025. https://www.binance.com/bg/square/post/28492850263889
[15] Binance Square. “$30M scheme to buy Trump pardon for Roger Ver collapses.” August 17, 2025. https://www.binance.com/bg/square/post/28492850263889
[16] Binance Square. “$30M scheme to buy Trump pardon for Roger Ver collapses.” August 17, 2025. https://www.binance.com/bg/square/post/28492850263889
[17] Facebook. Brock Pierce. “We opened a Hospital in Puerto Rico! With immense joy I share with you the story of the Hope Medical Center in Humacao, Puerto Rico.” https://www.facebook.com/brockpierce/
[18] Centro de Periodismo Investigativo. “Who Will Answer for Hope Medical Center’s Debts and Lawsuits in Puerto Rico?” December 17, 2025. https://periodismoinvestigativo.com/2025/12/hope-medical-center-humacao-debts-lawsuits-ownership/
[19] Centro de Periodismo Investigativo. “Who Will Answer for Hope Medical Center’s Debts and Lawsuits in Puerto Rico?” December 17, 2025. https://periodismoinvestigativo.com/2025/12/hope-medical-center-humacao-debts-lawsuits-ownership/
[20] Centro de Periodismo Investigativo. “Who Will Answer for Hope Medical Center’s Debts and Lawsuits in Puerto Rico?” December 17, 2025. https://periodismoinvestigativo.com/2025/12/hope-medical-center-humacao-debts-lawsuits-ownership/
[21] Centro de Periodismo Investigativo. “Who Will Answer for Hope Medical Center’s Debts and Lawsuits in Puerto Rico?” December 17, 2025. https://periodismoinvestigativo.com/2025/12/hope-medical-center-humacao-debts-lawsuits-ownership/
[22] New York Times. “Tether Co-Founder Faces the Unraveling of a Crypto Dream.” August 13, 2024. https://www.nytimes.com/2024/08/13/technology/brock-pierce-crypto-puerto-rico.html
[23] New York Times. “Tether Co-Founder Faces the Unraveling of a Crypto Dream.” August 13, 2024. https://www.nytimes.com/2024/08/13/technology/brock-pierce-crypto-puerto-rico.html
[24] New York Times. “Tether Co-Founder Faces the Unraveling of a Crypto Dream.” August 13, 2024. https://www.nytimes.com/2024/08/13/technology/brock-pierce-crypto-puerto-rico.html
[25] New York Times. “Tether Co-Founder Faces the Unraveling of a Crypto Dream.” August 13, 2024. https://www.nytimes.com/2024/08/13/technology/brock-pierce-crypto-puerto-rico.html
[26] Centro de Periodismo Investigativo. “Who Will Answer for Hope Medical Center’s Debts and Lawsuits in Puerto Rico?” December 17, 2025. https://periodismoinvestigativo.com/2025/12/hope-medical-center-humacao-debts-lawsuits-ownership/
[27] The Hollywood Reporter “The Strange Saga of Jeffrey Epstein’s Link to a Child Star Turned Cryptocurrency Mogul” September 18, 2019 The Strange Saga of Jeffrey Epstein’s Link With Brock Pierce
[28] Forbes Founder “Brock Pierce: The Visionary Bridging Technology, Philanthropy, and Global Impact” October 14, 2025 Brock Pierce: Visionary Leader in Tech & Philanthropy
[29] Rolling Stone Arabia “Brock Pierce: The Visionary Bridging Hollywood, Crypto, and Human Potential” October 17, 2025 Brock Pierce: The Visionary Bridging Hollywood, Crypto, and Human Potential
[30] Elle Colombia “Brock Pierce: The Visionary Bridging Technology, Philanthropy, And Global Impact” October 14, 2025 Brock Pierce: The Visionary Bridging Technology, Philanthropy, And Global Impact
[31] Facebook Reel October 16, 2025 https://www.facebook.com/reel/2035583757295905
