Kraken Donates $111K in Bitcoin to Ross Ulbricht After His Pardon

Crypto exchange Kraken has pledged a generous donation to Ross Ulbricht, the founder of the Silk Road, following his recent pardon. The contribution is aimed at supporting Ulbricht’s reintegration into society after his release, marking a significant move by the exchange to assist him in his post-incarceration journey.

In a post on X, Kraken revealed that it donated $111,111 worth of Bitcoin (BTC) to the address listed on freeross.org, a website that claims to be Ross Ulbricht’s official platform for public support and donations.

Dear Ross,

All of us at Kraken want to make sure that after what you've been through, you're able to land on your feet with the support of the community that loves you most, the ₿itcoin community.

That's why we've donated $111,111 in $BTC to YOU

-Kraken pic.twitter.com/SCnZety71W
— Kraken Exchange (@krakenfx) January 22, 2025

Mempool’s Bitcoin blockchain explorer reports that a total of 2.5 BTC, roughly valued at $263,000, has been donated at the time of writing.

Kraken’s generous donation comes on the heels of a statement by Coinbase executive Conor Grogan, who revealed that Ulbricht’s remaining wallets, not seized by the U.S. government, contained $47 million worth of BTC as of January 22. While this amount would have been considered insignificant in 2013, when Ulbricht was arrested, the value of Bitcoin has since surged dramatically.

I found ~430 BTC across dozens of wallets associated with Ross Ulbricht that were not confiscated by the USGovt and have been untouched for 13+ years

Back then these were probably dust wallets, now, collectively, they are worth about $47M.

Welcome back Ross pic.twitter.com/KmCp4xcrI7
— Conor (@jconorgrogan) January 22, 2025

However, Grogan expressed skepticism about whether Ulbricht still possesses the keys required to access the wallets. In a post, he remarked, “We will know soon enough,” suggesting that the cryptocurrency in those wallets might soon show activity now that Ulbricht has regained his freedom.

Trump Pardons Ulbricht

On his second day in office, President Donald Trump fulfilled a key campaign promise by granting Ulbricht a full presidential pardon.

The announcement was made directly by President Trump through a post on his social media platform, Truth Social. “I just called the mother of Ross William Ulbricht to let her know that in honor of her and the Libertarian Movement, which supported me so strongly, it was my pleasure to have just signed a full and unconditional pardon of her son, Ross,” he wrote.

Ulbricht, who was arrested in October 2013, had served 12 years of his sentence before being granted a pardon. He had been sentenced to double life imprisonment without parole, along with an additional 40 years — a punishment widely criticized as excessive for nonviolent offenses. President Trump described the sentence as “ridiculous” in his announcement.

Michaela has no crypto positions and does not hold any crypto assets. This article is provided for informational purposes only and should not be construed as financial advice. The Shib Magazine and The Shib Daily are the official media and publications of the Shiba Inu cryptocurrency project. Readers are encouraged to conduct their own research and consult with a qualified financial adviser before making any investment decisions.

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