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Bitcoinist 2025-06-01 17:30:09

$31M In Bitcoin Floods In For Silk Road Founder Ross Ulbricht As Support Grows

$31M In Bitcoin Floods In For Silk Road Founder Ross Ulbricht As Support Grows

Ross Ulbricht has received a massive gift from the crypto world. He was pardoned earlier this year and, within hours, 300 Bitcoins—worth about $31.4 million—were sent to his donation wallet. He’s already seen support from big players like Kraken, which gave $111,111 in Bitcoin , and grassroots efforts that raked in roughly $270,000. Now he has enough to start over, and many in the crypto community are watching closely. Community Support Flows According to blockchain analysis platform Lookonchain, the 300 BTC landed in Ulbricht’s wallet just hours after it was sent. This isn’t the first time generous backers have reached out. Ross Ulbricht( @RealRossU ), the founder of the #SilkRoad marketplace, received 300 $BTC ($31.4M) to his donation wallet 8 hours ago. https://t.co/3DEsM9rpBq pic.twitter.com/JoUMNqM99p — Lookonchain (@lookonchain) June 1, 2025 Earlier in 2025, Kraken quietly wired over $111,111 to help him adjust to life outside prison. A group called Free Ross has claimed more than $270,000 in donations. Another address tied to Ulbricht gathered $4,615 in Ethereum, USDC, Tether (USDT), and Binance Coin (BNB). All of this suggests that plenty of people still care deeply about his fate. Presidential Pardon And Backlash On January 21, 2025, US President Donald Trump signed a full and unconditional pardon for Ulbricht. He’d spent 11 years serving a double life sentence without parole after being convicted in New York in 2015 of narcotics and money-laundering conspiracy. Based on reports, Ulbricht could have access to inactive Bitcoin wallets connected to Silk Road , and those wallets may hold roughly $47 million. That potential stash has only fueled more debate: some ask whether he really needs outside donations if he can tap into $47 million in dormant coins. Auction Of Personal Items Ulbricht has also turned to selling pieces of his past. Based on reports from Scarce City—the Bitcoin-powered collectibles platform—he’s raised about $1.8 million by auctioning personal items and art. His prison ID card drew the highest bid: 11 BTC, now worth more than $1.1 million. An oil painting made with help from fellow inmate “Omega” sold for 1.01 BTC. Thirteen artifacts in all were up for grabs, including prison sneakers, a sweatsuit, a t-shirt, a prison notebook, and a locker lock. Before his arrest, he’d owned things like a djembe drum, a backpack, and Vibram FiveFingers shoes. Bidders must complete payment by June 2, and Ulbricht has said he’s ready to move on from these physical reminders. Featured image from Unsplash, chart from TradingView

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