The group known as "The Conspiracy" was formed with the intent of recovering fragments of the Bloodgem which Ulysses Bloodstone shattered in his initial confrontation with his nemesis, the extraterrestrial Ullux'yl Kwan T'ae 'Sny.
When the Bloodgem shattered, one of the fragments became embedded in Bloodstone's chest granting him super human strength and immortality.
[1] The Conspiracy's goal was to reunite the Bloodgem fragments into a single gem with the intent of gaining power as Bloodstone had.
Ulysses Bloodstone, resurrected briefly by the residual energy of his Bloodgem fragment, gave his life to destroy the crystalline monster and the five members of The Conspiracy presumably perished in the resulting explosion.
[2] Years later, Captain America came across the skeletal remains of the Conspiracy member's bodies as he was exploring their abandoned subterranean base beneath New York City.