Cryptocurrency alternate Kraken has made a big gesture towards Silk Highway founder Ross Ulbricht, donating $111,111 in Bitcoin (BTC) to assist his reintegration after years of incarceration.
In the meantime, Coinbase’s Conor Grogan revealed figuring out a Bitcoin stash linked to Ulbricht after over 13 years of dormancy.
Kraken Cushions Ross Ulbricht with $111,111 Bitcoin Donation
The alternate revealed the donation by way of a submit on X (Twitter), including that it had arrange a public handle for added contributions. With this, Kraken inspired the Bitcoin group to rally behind Ulbricht.
“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 Bitcoin community. That is why we’ve donated $111,111 in BTC to YOU,” the alternate shared.
Kraken’s donation displays the broader Bitcoin group’s dedication to supporting those that have been pivotal in its historical past. The transfer follows Ulbricht’s presidential pardon on Wednesday.
Ross Ulbricht, the founding father of the notorious darkish internet market Silk Highway, was sentenced to life in jail in 2015. Costs entailed conspiracy tied to cash laundering, hacking, and drug trafficking. His case has been a lightning rod for debates about web freedom, overreach in sentencing, and cryptocurrency’s function in illicit markets.
Following Ulbricht’s presidential pardon, and as BeInCrypto reported, crypto market individuals are calling for clemency prolonged to Roger Ver, “Bitcoin Jesus.” Amongst them is Kraken co-founder and chair Jesse Powell, who additionally expressed gratitude to President Donald Trump for honoring his dedication to free Ulbricht.
“Free Roger Ver,” Powell mentioned in a submit.
Coinbase Govt Tracks Ulbricht’s Lengthy-Misplaced Fortune
In a parallel growth, Conor Grogan made an fascinating discovery. The Director of Product Technique and Business Operations at Coinbase revealed that he had recognized roughly 430 BTC throughout dozens of wallets related to Ulbricht. This stash, untouched for over 13 years, is now valued at round $47 million.
“I found ~430 BTC across dozens of wallets associated with Ross Ulbricht that were not confiscated by the US Govt and have been untouched for 13+ years. Back then these were probably dust wallets, now, collectively, they are worth about $47M. Welcome back Ross,” Grogan disclosed.
The BTC, documented in courtroom filings throughout Ulbricht’s trial, has remained dormant since his arrest. The information has sparked blended reactions throughout social media. Some customers have raised questions in regards to the ethics of reviving funds tied to Silk Highway’s operations.
“Some things are better left unsaid,” one person on X expressed.
This displays the cautious tone of the controversy. Grogan shunned sharing particular pockets addresses, noting that they’re publicly out there information from trial paperwork and blockchain evaluation. It stays unknown whether or not Ulbricht nonetheless has entry to the keys.
“Unlikely if he has the keys still stored down anywhere. I guess we will know soon enough,” he famous.
The invention provides one other layer to Grogan’s popularity as a blockchain sleuth, which had earned him the title “crypto’s Indiana Jones.” In 2023, Grogan tracked down $322,000 value of dormant Ethereum Basic (ETC) and returned it to an proprietor who was unaware of its existence. His efforts have earned him widespread recognition for moral blockchain exploration.
“ETH forked in 2016; if you held a balance you would get credited 1:1 the ETC. My thesis is that many people are not aware that they were in the snapshot. Forgetting you have funds onchain (or not keeping track of airdrops) is common. I’ve found 6+ figures for people previously,” Grogan mentioned on the time.
These developments come at a time when Bitcoin’s ethos of decentralization and monetary sovereignty is beneath scrutiny. Nonetheless, Kraken’s donation and Grogan’s revelations in regards to the dormant BTC wallets add a monetary dimension to Ulbichts’ second probability.
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