Kraken, a leading cryptocurrency exchange, has donated $111,111 in Bitcoin (BTC) to Ross Ulbricht, the convicted founder of the Silk Road marketplace, following his recent pardon by former U.S. President Donald Trump.
The donation was made through freeross.org, a platform dedicated to supporting Ulbricht’s cause. According to data from Mempool, a total of 93 donors have contributed 2.5 BTC (approximately $261,000) to the fund so far.
Pardon Sparks Renewed Interest in Ulbricht’s Case
Ulbricht was arrested in 2013 and sentenced to double life imprisonment plus 40 years for operating Silk Road, an online black market that facilitated illicit transactions using Bitcoin. His sentence was widely criticized as excessive, particularly by libertarians and crypto advocates. Trump’s decision to commute his sentence on his second day in office fulfilled a campaign promise to this community.
The pardon has also reignited discussions surrounding Ulbricht’s impact on the cryptocurrency space. Some see him as an early blockchain pioneer, while others view him as a criminal responsible for enabling illegal trade.
New Revelations About Ulbricht’s Bitcoin Holdings
Kraken’s donation comes amid reports that Ulbricht’s Bitcoin wallets hold approximately $47 million worth of BTC as of January 22, 2025. However, Coinbase’s Conor Grogan has questioned whether Ulbricht still has access to the wallet’s private keys.
Meanwhile, a documentary on Ulbricht’s life is currently in post-production, adding to the growing public interest in his story.
Crypto Community Eyes Pro-Bitcoin Policies Under Trump
Ulbricht’s case has long been a focal point for the crypto community, and his pardon is seen by some as a potential shift toward more Bitcoin-friendly policies under Trump’s leadership. Speculation is mounting over whether the administration will push for initiatives such as a strategic Bitcoin reserve or other crypto-friendly executive orders.
As the debate over Ulbricht’s legacy continues, the crypto world is watching closely to see how his legal and financial situation unfolds.
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