Key Takeaways:
- Kraken donated $111,111 in BTC to Ross Ulbricht’s help website after his pardon by President Trump, following 12 years in jail for fees tied to the Silk Highway market.
- Ulbricht’s wallets reportedly nonetheless maintain $47M in BTC, whereas freeross.org has obtained extra donations totaling 2.5 BTC.
Following his launch, cryptocurrency trade 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 wish to be sure that after what you’ve been via, you’re capable of land in your ft with the help of the neighborhood that loves you most, the ₿itcoin neighborhood,” stated the trade to Silk Highway’s founder.
Kraken Trade’s Donation: Neighborhood Assist Grows for Ulbricht
The donation sparked vital exercise on the blockchain. In line with Bitcoin explorer Mempool, the donation tackle linked to freeross.org has obtained 93 contributions amounting to 2.5 BTC ($261,000) as of January 22, 2025. The tackle continues to obtain donations from supporters throughout the cryptocurrency neighborhood.
In the meantime, Coinbase government Conor Grogan identified that wallets reportedly related to Ulbricht nonetheless maintain roughly $47 million value 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 Highway 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 fanatics.
President Trump’s determination to pardon Ulbricht has reignited debates over Silk Highway’s function 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 continued 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 neighborhood’s response, marked by donations and public help, underscores the enduring impression of Ulbricht’s case on the trade’s collective consciousness.
This second serves as a reminder of Bitcoin’s roots as a software for monetary freedom and the advanced legacy of one in every of its most controversial figures.
