Popular cryptocurrency exchange Kraken has revealed that it has sent some funds to Silk Road founder Ross Ulbricht to help him enjoy his newfound freedom.
Turning to Platform
Dear Ross,
All of us at Kraken want to make sure that after what you’ve been through, you’ll be able to get back on your feet with the support of the community that loves you the most, the ₿itcoin community.
That’s why we donated $111,111 $ Bitcoin for you
-Kraken pic.twitter.com/SCnZety71W
– Kraken Stock Exchange (@krakenfx) January 22, 2025
The folks at Kraken wrote that they “wanted to check after what [Ulbricht] “I’ve been through it,” he was able to get a good second start, with the help of the Bitcoin community.
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Conor Grogan, CEO of Coinbase, did some digging I found out Approximately 430 bitcoins, which were considered to be of low value and spread across several wallets linked to Ross Ulbricht, were discovered unclaimed by the US government. The value of this money, which has been untouched for more than 13 years, is approximately $47 million.
However, it’s unclear whether Ulbricht still has access to these wallets, so donations like the one made by Kraken would probably go a long way for him for the time being.
The verdict on Ross Ulbricht is ridiculous: Trump
President Donald Trump pardoned Ross Ulbricht on his second day back in office, fulfilling a campaign promise he made to libertarians and the cryptocurrency community.
Ulbricht, who in 2013 was sentenced to two life sentences without parole plus 40 years for nonviolent crimes, served 12 years before Trump commuted his sentence, deeming it “ridiculous” on his social media platform, Truth Social.
While the cryptocurrency community responded very positively to Ulbricht’s launch, not everyone shared this sentiment.
some Argue He was rightly convicted for being involved in activities including illicit trafficking, arms sales, illicit drugs, and where hitmen could be hired.
Others argued that he had served enough time and that life imprisonment would not be appropriate.
Whatever you think about Ross Ulbricht, one of the most interesting aspects about the story is that people are drawing conclusions that this somehow means Trump will create a strategic reserve of Bitcoin.
Although he has neither denied nor confirmed it, it is likely that these two things are not as connected as many might hope. After all, we’re dealing with Trump, a man not famous for consistency.