It has only been 24 hours since Ross Ulbricht was pardoned by the new US President, Donald Trump. Already, the community are helping the Silk Road founder get back on his feet with donations to his crypto wallet.
Leading crypto exchange, Kraken, went public on X to add to the fund, with $111,111 in BTC sent from the exchange to the wallet address listed on the Ulbricht family-run freeross.org website.
Dear Ross,
All of us at Kraken want to make sure that after what you've been through, you're able to land on your feet with the support of the community that loves you most, the ₿itcoin community.
That's why we've donated $111,111 in $BTC to YOU
-Kraken pic.twitter.com/SCnZety71W
— Kraken Exchange (@krakenfx) January 22, 2025
Over $250,000 In Donations Made To Ulbricht’s Wallet While $47 Million In Suspected Ulbricht Wallets May Soon Be On The Move
According to the Bitcoin blockchain explorer, over 160 donations have already been made at the time of writing via the page for a total of 2.57 BTC, totalling just north of $261,000.
Kraken’s sizeable donation came as Conor Grogan, a Coinbase exec, stated that wallets left behind by Ulbricht that the US government did not seize held BTC worth $47 million as of January 22.
At the time of Ulbricht’s arrest back in 2013, the BTC in those wallets would likely have been considered ‘dust’. However, it has since risen in value in the eleven years since.
Grogan did go on to cast doubt that Ross still had the private keys required to recover the wallets, saying, “We will know soon enough.” The market will be keeping a close eye on any movement from the various wallets.
I found ~430 BTC across dozens of wallets associated with Ross Ulbricht that were not confiscated by the USGovt and have been untouched for 13+ years
Back then these were probably dust wallets, now, collectively, they are worth about $47M.
Welcome back Ross pic.twitter.com/KmCp4xcrI7
— Conor (@jconorgrogan) January 22, 2025
President Trump Kept Campaign Promise To Fully Pardon Ulbricht (Although A Day Late) – What Is Next For Ross?
US President Donald Trump pardoned Ulbricht on his second day in office, following through on a campaign promise made to libertarians and the crypto community.
Ross was on his twelfth year of a double life prison sentence dating back to his arrest in October 2013. His sentence of 40 years without parole was deemed excessive by a large community consisting mainly of libertarians and cryptocurrency investors.
President Trump took to his social media platform Truth Social after the pardon, saying that it was his pleasure to have signed a full and unconditional pardon of Ulbricht, whose sentence he called “ridiculous”.
With Ulbricht back in the spotlight, there has been much talk of Silk Road. The darknet bazaar for illicit services and goods was created by Ross and was the reason for his incarceration.
Many believe Ulbricht was persecuted for his role as an early crypto adopter rather than for any harm he caused society. His excessive double life prison sentence for a non-violent crime adds weight to the argument.
The crypto community are now waiting to see what path Ross takes now he has his freedom. There are many theories, including him getting involved in crypto, potentially supporting the ROSS token created to advocate for his freedom. Others believe he may use his wealth to disappear into obscurity after more than a decade of being in prison.
Ross Ulbricht is FREE and his mother Lyn will go down as one of the greatest moms of all time.
Against all odds, she never gave up on her son and built a movement of support for him that could not be silenced. Heroic.
I can’t wait to see what they do next. pic.twitter.com/juIUyfzJFe
— Hannah Cox (@HannahDCox) January 22, 2025
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