Kraken makes donation to Ross Ulbricht following his pardon
Kraken makes donation to Ross Ulbricht following his pardon
In a significant show of support, cryptocurrency exchange Kraken has donated $111,111 worth of Bitcoin to Ross Ulbricht, the founder of the notorious Silk Road darknet marketplace, following his release from prison on January 22.
Ulbricht, who had served 12 years of a controversial sentence, was granted a full pardon by U.S. President Donald Trump on his second day in office, fulfilling a campaign promise to the libertarian and crypto communities.
Kraken’s donation was made to the official address listed on the *freeross.org* website, which claims to represent Ulbricht and provides a way for the public to contribute to his efforts. As of the latest data, 93 donations totaling 2.5 BTC (approximately $261,000) have been made via the site. The move highlights growing support for Ulbricht, especially from the crypto community, where many argue that his sentence was disproportionate to his nonviolent offenses.
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Conor Grogan, an executive at Coinbase, recently raised attention to a potential treasure trove of Bitcoin still tied to Ulbricht’s name. According to Grogan, wallets connected to Ulbricht that were not seized by the U.S. government may contain as much as $47 million in Bitcoin, as of January 22. Although there is uncertainty about whether Ulbricht has access to the private keys needed to unlock the wallets, Grogan suggested that the funds could soon be moved now that Ulbricht is a free man.
A symbolic moment for the crypto community
The pardon has reignited debates over Ulbricht’s legacy and the broader implications of his case. For many in the crypto community, Ulbricht is viewed not as a criminal but as an early visionary who was harshly punished for his association with digital currencies. Hollywood is also capitalizing on the renewed interest in his story, with a documentary about Ulbricht currently in post-production.
The pardon and the ongoing discussions about Ulbricht's case have put a spotlight on the intersection of digital currencies, legal systems, and personal freedoms. As Ulbricht adjusts to life outside prison, the crypto community is watching closely, hopeful that his freedom will bring greater advocacy for digital assets and blockchain technology.
Earlier, Kraken introduced significant updates to its Layer 2 network, Ink.
