Freed by Trump, Ulbricht gets $111K from Kraken
Silk Road founder receives Bitcoin donations from crypto supporters after his release
Crypto exchange Kraken has stepped up to support Ross Ulbricht, the founder of the Silk Road darknet marketplace, following his recent release from prison. The exchange revealed on X that it had donated $111,111 in Bitcoin (BTC) to Ulbricht’s official fundraising address on freeross.org. The donation aims to help Ulbricht rebuild his life after serving more than a decade in prison.
The fundraising page has reportedly received 93 donations totaling 2.5 BTC (approximately $261,000), according to data from Mempool’s blockchain explorer.
Ulbricht’s release was made possible by a presidential pardon from Donald Trump, fulfilling a campaign promise to the libertarian and crypto communities. Convicted in 2015 for operating the Silk Road, Ulbricht had faced a double life sentence without parole plus 40 years—a punishment many viewed as excessively harsh for nonviolent crimes.
Trump called the sentence “ridiculous” on his social media platform Truth Social, describing the pardon as “full and unconditional.”
A legacy of giving
While Ulbricht’s name is often linked to the controversial Silk Road, his life has also been marked by charitable efforts, even during his imprisonment. Through Art4Giving—a charitable fund established by the Ulbricht family—more than $800,000 has been donated to various causes, including supporting children of incarcerated parents and helping prisoners reintegrate into society.
The fund originated from the sale of Ulbricht’s prison-created art as NFTs. In a 2021 tweet, Ulbricht expressed his commitment to making a positive impact:
From the beginning with this NFT, I've wanted to help kids travel to see their moms and dads in prison.
— Ross Ulbricht (@RealRossU) December 4, 2021
But with such high bids, we can now have a real impact on many other important causes as well.
Before his imprisonment, Ulbricht had consistently contributed to charitable causes. He donated 10% of his gross earnings from a used book business to charity and supported a prison literacy program by donating unsold books. In his teens, he helped Well Aware bring clean drinking water to Kenyan families.
What’s next for Ulbricht?
Ulbricht’s freedom has reignited debates over his legacy, with some viewing him as a pioneer in the crypto space and others as a controversial figure. Conor Grogan, an executive at Coinbase, revealed that Bitcoin wallets linked to Ulbricht, but not seized by authorities, now hold BTC worth approximately $47 million. Whether Ulbricht retains access to these funds remains unclear.
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
— Conor (@jconorgrogan) January 22, 2025
Back then these were probably dust wallets, now, collectively, they are worth about $47M.
Welcome back Ross pic.twitter.com/KmCp4xcrI7
Meanwhile, the crypto community on X has largely celebrated his release, viewing it as a positive step for the industry. Kraken’s donation underscores the enduring support for Ulbricht among crypto advocates, as his story transitions into a new chapter focused on redemption and rebuilding.
