Key Points
- Ross Ulbricht received a donation of $111,111 in Bitcoin from the major exchange, Kraken, after his release from prison.
- Ulbricht’s release followed a full pardon from President Donald Trump, ending his imprisonment for operating the Silk Road darknet marketplace.
Following his release from prison, Ross Ulbricht has seen significant support from the cryptocurrency community.
The major exchange, Kraken, has shown its support by donating $111,111 worth of Bitcoin (BTC) to assist him in restarting his life.
Ulbricht’s Release and Donation
The donation was announced on January 22, a day after United States President Donald Trump granted Ulbricht a full pardon.
This pardon concluded Ulbricht’s over a decade-long imprisonment for operating the infamous Silk Road darknet marketplace.
Kraken publicly addressed their donation to Ulbricht, expressing their wish for him to land on his feet with the support of the Bitcoin community.
This gesture is part of a broader outpouring of support from the crypto space.
Data from Bitcoin blockchain explorer Mempool shows that 93 separate donations have been sent to an address listed on freeross.org, totaling 2.5 BTC, which is over $250K.
Background on Ross Ulbricht and Silk Road
Ulbricht was arrested in 2013 for founding and operating Silk Road, a darknet marketplace where users could anonymously trade goods and services, including illegal drugs, using Bitcoin.
In 2015, he was convicted on multiple charges, including money laundering, conspiracy to commit computer hacking, and conspiracy to traffic narcotics.
His sentencing was severe — two life terms plus 40 years without the possibility of parole.
However, Ulbricht’s supporters, including several prominent figures in the crypto and libertarian movements, long argued that his punishment was excessive.
President Trump, who granted the pardon on his second day back in office, echoed these sentiments, calling Ulbricht’s sentence “ridiculous.”
Unclaimed Bitcoin Holdings Worth $47 Million
The pardon has also sparked renewed interest in Bitcoin wallets linked to Ulbricht.
Conor Grogan, a Coinbase executive, revealed that around 430 BTC, worth approximately $47 million as of January 2025, remains in wallets associated with Ulbricht that were never confiscated by the US government.
These wallets have remained untouched for over 13 years.
What’s Next for Ulbricht?
With strong financial backing from the crypto community and a newfound freedom, Ulbricht’s next steps remain uncertain.
His supporters hope he will continue advocating for internet privacy, decentralization, and crypto adoption.
Meanwhile, the debate over his legacy and the ethical implications of his pardon continues to divide opinions.
Despite the controversies, Kraken’s donation and the broader crypto community’s support signal that, in their eyes, Ulbricht is not just a convicted felon but a symbol of Bitcoin’s early vision: a decentralized financial system beyond government control.
