Popular crypto exchange Kraken has revealed it has sent some funds to Silk Road founder Ross Ulbricht to help him enjoy his newfound freedom.
Taking to platform X, the exchange said it has sent $111,111 worth of Bitcoin to an address on freeross.org, said to be Ulbricht’s official 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 (@krakenfx) January 22, 2025
The people at Kraken wrote that they “wanted to make sure that after what [Ulbricht] had been through”, he was able to get a good second start, with the help of the Bitcoin community.
Read more: Tornado Cash Sanctions Ruled Illegal By Texas Court: Details
Conor Grogan, a Coinbase executive, did some digging and found out that approximately 430 BTC, once considered low-value and spread across numerous wallets linked to Ross Ulbricht, were discovered unclaimed by the U.S. government. These funds, untouched for over 13 years, are now valued at around $47 million.
However, it’s unclear if Ulbricht still has access to these wallets, so donations like the one from Kraken probably go a long way for him right now.
Ross Ulbricht Sentencing Ridiculous: Trump
President Donald Trump pardoned Ross Ulbricht on his second day back in office, fulfilling a campaign promise to libertarians and the crypto community.
Ulbricht, sentenced in 2013 to double life imprisonment without parole plus 40 years for nonviolent offenses, had served 12 years before Trump commuted his sentence, deeming it “ridiculous” on his social media platform, Truth Social.
While the crypto community responded overwhelmingly positively about Ulbricht’s release, not everyone shared that sentiment.
Some argued he had been rightly handed the sentence for his involvement in activities that include illegal trafficking, weapons sales, illegal drugs, and where hitmen could be hired.
Others argued he had served enough time and that a lifetime in jail wouldn’t be appropriate.
Whatever your take on Ross Ulbricht, one of the most interesting aspects about the story is that people are drawing conclusions that this somehow means Trump will establish a Strategic Bitcoin Reserve.
Although he has neither denied nor confirmed this, these two things are likely not as related as many may hope. After all this is Trump we’re dealing with – the man isn’t exactly famous for consistency.
Disclaimer
This article is provided for information only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
