The creator of Silk Road, Ross Ulbricht, was released from prison on January 22 after serving 12 long years. Reports suggest that wallets linked to him are now worth around $47 million.
Recently, the crypto exchange Kraken shared on X that they made a donation to help Ulbricht get back on his feet. They sent $111,111 in Bitcoin (BTC) to an address listed on freeross.org, which claims to be Ulbricht’s official site. This site offers ways for people to contribute to him.
As of now, the Bitcoin blockchain explorer Mempool shows that 93 donations have come in through this page, totaling 2.5 BTC, or about $261,000.
On his second day in office, former US President Donald Trump pardoned Ulbricht, fulfilling a campaign promise aimed mainly at libertarians and the crypto community. Ulbricht had received a double life sentence without parole plus an additional 40 years after his arrest in October 2013. Many felt this punishment was excessively harsh for nonviolent crimes.
After granting the commutation, Trump stated on his social media platform, Truth Social, that he was pleased to sign a full and unconditional pardon for Ulbricht, calling his sentence “ridiculous.”
Kraken’s donation came at a time when Conor Grogan, a Coinbase executive, mentioned that the wallets left behind by Ulbricht, which the US government did not seize, contained BTC worth $47 million as of January 22. Back in 2013, this Bitcoin would have been considered negligible, but its value has soared since then due to various market cycles.
Grogan expressed some doubt about whether Ulbricht still possesses the keys to access those wallets. He noted, “We will know soon enough,” suggesting that the cryptocurrency in those wallets could soon be moved now that Ulbricht is free.
Trump’s pardon has brought Silk Road back into the spotlight, highlighting its lasting impact on public perception. Some believe Ulbricht faced persecution for being an early innovator in crypto, rather than for any harm he caused. Additionally, Cointelegraph reported that Hollywood directors are already working on a documentary about Ulbricht, which is currently in post-production.