Key Takeaways:
- Kraken donated $111,111 in BTC to Ross Ulbricht’s support site after his pardon by President Trump, following 12 years in prison for charges tied to the Silk Road marketplace.
- Ulbricht’s wallets reportedly still hold $47M in BTC, while freeross.org has received additional donations totaling 2.5 BTC.
Following his release, cryptocurrency exchange Kraken donated $111,111 in bitcoin (BTC) to Ulbricht’s official support site, to aid his reintegration and continued advocacy for justice reform.
Kraken’s gesture was confirmed via its official X account in a January 22 post. “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,” said the exchange to Silk Road’s founder.
Kraken Exchange’s Donation: Community Support Grows for Ulbricht
The donation sparked significant activity on the blockchain. According to Bitcoin explorer Mempool, the donation address linked to freeross.org has received 93 contributions amounting to 2.5 BTC ($261,000) as of January 22, 2025. The address continues to receive donations from supporters within the cryptocurrency community.
Meanwhile, Coinbase executive Conor Grogan pointed out that wallets reportedly associated with Ulbricht still hold approximately $47 million worth of bitcoin. These funds were not seized by the U.S. government during his initial arrest.
Ross Ulbricht Pardoned by President Trump After 12 Years in Prison
Ulbricht, the founder of the infamous Silk Road darknet marketplace, was pardoned by U.S. President Donald Trump on January 22, 2025, after serving 12 years in federal prison. Ulbricht had been convicted in 2015 on charges including conspiracy to commit money laundering, computer hacking, and drug trafficking.
His sentence, a double life term without parole, had long been criticized as excessively harsh by advocates and cryptocurrency enthusiasts.
President Trump’s decision to pardon Ulbricht has reignited debates over Silk Road’s role in the history of cryptocurrency and the fairness of his initial sentencing. While critics argue that Ulbricht’s actions facilitated illegal activities, supporters emphasize his contributions to early Bitcoin adoption and innovation.
Notably, Kraken’s donation and Ulbricht’s release highlight the ongoing tension between early cryptocurrency pioneers and the regulatory frameworks that emerged in response to their disruptive innovations.
A New Chapter for Ulbricht
As Ulbricht reenters society, his future remains uncertain. Advocates and supporters hope he will continue to champion causes related to justice reform and digital privacy. The cryptocurrency community’s response, marked by donations and public support, underscores the enduring impact of Ulbricht’s case on the industry’s collective consciousness.
This moment serves as a reminder of Bitcoin’s roots as a tool for financial freedom and the complex legacy of one of its most controversial figures.
