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Qadir AK
Qadir AK
Author
Qadir Ak is the founder of Coinpedia. He has over a decade of experience writing about technology and has been covering the blockchain and cryptocurrency space since 2010. He has also interviewed a few prominent experts within the cryptocurrency space.
- Jan 23, 2025 08:35 UTC
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Silk Road’s Ross Ulbricht Gets $111K Bitcoin from Kraken After Trump Pardon
Ross Ulbricht, founder of Silk Road, was pardoned by Donald Trump, fulfilling a campaign promise.
Following his pardon, the crypto community has welcomed Ulbricht, with Kraken donating Bitcoin.
Despite government confiscation, Ulbricht still has access to a significant amount of Bitcoin, potentially worth millions.
Ross Ulbricht, the creator of the infamous Silk Road darknet marketplace, has received a full and unconditional pardon from US President Donald Trump, a promise made during the 2024 campaign. After spending years behind bars, the 40-year-old Bitcoin pioneer is ready to start a new chapter in his life, filled with new opportunities.
Is a new venture headed for the crypto space? Keep reading to know more!
Crypto Community Voices Support
The crypto world, now a $3 trillion industry (up from $4 billion in 2015), has welcomed Ulbricht back. As the industry grows, many leaders are advocating for better treatment of software developers and Web3 builders, such as those behind the ongoing case of Tornado Cash creators.
This movement for fairer treatment may lead to a more supportive environment for pioneers like Ulbricht, who previously faced legal challenges.
It’s Been a Tough Battle
After the US government seized nearly 70,000 Bitcoins from Silk Road, a court ruled that they couldn’t be returned. Despite this, Ulbricht is now looking forward to a fresh start. In support of his new beginning, Kraken, a leading cryptocurrency exchange, donated $111,111 in Bitcoin to Ulbricht.
Kraken also encouraged the Bitcoin community to pitch in, helping Ulbricht’s balance grow to 2.57 BTC—currently worth around $263,000.
An X account closely associated with Ulbricht recently warned the crypto community that he’s not yet involved in any memecoin projects. This hint has sparked curiosity, with some speculating that Ulbricht may have plans for a future release.
Happy Error?
On-chain researcher Conor Grogan made an interesting discovery: about 430 Bitcoins, once thought to be worthless in 2015, have been spread across several addresses linked to Ulbricht. At today’s price of around $102,000 per Bitcoin, this stash is now worth over $43 million, showing the significant fortune Ulbricht once held—and still might.
Never Miss a Beat in the Crypto World!
Stay ahead with breaking news, expert analysis, and real-time updates on the latest trends in Bitcoin, altcoins, DeFi, NFTs, and more.
Ulbricht’s future, once uncertain, now seems full of potential as he re-enters the crypto world. We’ll keep you updated on how his story unfolds.
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