Crypto

Kraken Donates $111K Worth of BTC to Silk Road Founder: Ulbricht

Key Takeaways:

  • Kraken donated $111,111 in BTC to Ross Ulbricht’s help web site after his pardon by President Trump, following 12 years in jail for fees tied to the Silk Street market.
  • Ulbricht’s wallets reportedly nonetheless maintain $47M in BTC, whereas freeross.org has obtained further donations totaling 2.5 BTC.

Following his launch, cryptocurrency change Kraken donated $111,111 in bitcoin (BTC) to Ulbricht’s official help site, to help his reintegration and continued advocacy for justice reform.

Kraken’s gesture was confirmed through its official X account in a January 22 post. “All of us at Kraken need to be sure that after what you’ve been via, you’re in a position to land in your ft with the help of the group that loves you most, the ₿itcoin group,” mentioned the change to Silk Street’s founder.

Kraken Alternate’s Donation: Group Help Grows for Ulbricht

The donation sparked important exercise on the blockchain. Based on Bitcoin explorer Mempool, the donation handle linked to freeross.org has obtained 93 contributions amounting to 2.5 BTC ($261,000) as of January 22, 2025. The handle continues to obtain donations from supporters inside the cryptocurrency group.

In the meantime, Coinbase government Conor Grogan identified that wallets reportedly related to Ulbricht nonetheless maintain roughly $47 million price of bitcoin. These funds weren’t seized by the U.S. authorities throughout his preliminary arrest.

Ross Ulbricht Pardoned by President Trump After 12 Years in Jail

Ulbricht, the founding father of the notorious Silk Street darknet market, was pardoned by U.S. President Donald Trump on January 22, 2025, after serving 12 years in federal jail. Ulbricht had been convicted in 2015 on fees together with conspiracy to commit cash laundering, laptop hacking, and drug trafficking.

His sentence, a double life time period with out parole, had lengthy been criticized as excessively harsh by advocates and cryptocurrency lovers.

President Trump’s choice to pardon Ulbricht has reignited debates over Silk Street’s position within the historical past of cryptocurrency and the equity of his preliminary sentencing. Whereas critics argue that Ulbricht’s actions facilitated unlawful actions, supporters emphasize his contributions to early Bitcoin adoption and innovation.

Notably, Kraken’s donation and Ulbricht’s launch spotlight the continuing rigidity between early cryptocurrency pioneers and the regulatory frameworks that emerged in response to their disruptive improvements.

A New Chapter for Ulbricht

As Ulbricht reenters society, his future stays unsure. Advocates and supporters hope he’ll proceed to champion causes associated to justice reform and digital privateness. The cryptocurrency group’s response, marked by donations and public help, underscores the enduring affect of Ulbricht’s case on the business’s collective consciousness.

This second serves as a reminder of Bitcoin’s roots as a software for monetary freedom and the complicated legacy of one in all its most controversial figures.

Show More

Related Articles

Leave a Reply