Kraken Donates $111,111 in Bitcoin to Ross Ulbricht Post-Release

Last Updated on January 23, 2025

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Kraken logo on iPhone display screen and crypto currency value charts. Source: mehaniq41 - stock.adobe.com

Key Takeaways:

  • Kraken donated $111,111 in Bitcoin to Ross Ulbricht via the official FreeRoss.org wallet, reigniting support for the Silk Road founder after his recent release.
  • Speculation grows around Ulbricht’s untouched Bitcoin wallets, holding approximately 430 BTC ($47M), as questions about his access to the funds arise.
  • Ulbricht’s release, following a presidential pardon by Donald Trump, has sparked fresh debates about his legacy and the future of pro-crypto policies.

Crypto exchange Kraken recently donated $111,111 in Bitcoin (BTC) to Ross Ulbricht, founder of the Silk Road marketplace, following his release from prison after 12 years.

Ulbricht was pardoned by former U.S. President Donald Trump, who criticized his double life sentence plus 40 years as excessive for nonviolent crimes.

Donations to Ulbricht’s official address on freeross.org have reached 2.5 BTC ($261,000) so far, signaling strong support from the crypto community.

Ulbricht’s release has reignited debate about his controversial role in the Silk Road, a darknet marketplace enabling illicit trade.

Some critics focus on the illegal activities it facilitated, while supporters see Ulbricht as a blockchain pioneer who was unduly punished.

The crypto community has largely celebrated Ulbricht’s release and Kraken’s donation as victories for libertarian and pro-crypto values.

Some view this as a step toward broader crypto adoption and speculate it might signal initiatives like a U.S. Bitcoin reserve.

Social media reactions have been overwhelmingly positive.

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