21M News

• Kraken donated $111K value of Bitcoin to Ross Ulbricht to assist him “land on his ft” following his over a decade of incarceration.
• In the meantime, a Coinbase official traced dozens of unconfiscated wallets holding a complete of 430 BTC to the founding father of the now-defunct Silk Street darknet market.

Silk Street Founder’s Newfound Freedom

Ross Ulbricht, the controversial determine behind the now-defunct Silk Street, has lastly walked free. This got here after President Donald Trump introduced on Reality Social yesterday that he signed a full and unconditional pardon for the founding father of the darknet market.

Ulbricht solely served 12 years out of the 2 life sentences plus 40 years handed to him by the court docket in 2013. Trump revealed that he referred to as Ulbricht’s mom to tell her of the excellent news whereas calling his jail time period “ridiculous.” The president likened the crypto character’s ordeal to his experiences underneath a “modern-day weaponization of presidency.”

Kraken Donates $111K BTC as Help

Kraken, in a present of solidarity, posted that it lately despatched $111,111 value of Bitcoin (BTC) to Ulbricht. The trade stated the gesture aimed to assist him “land on his ft.”

As of Wednesday midday, the pockets linked to Ulbricht has already gathered over 2.57 BTC value $263,522. This got here from 173 confirmed transactions based mostly on

430 Bitcoin Linked to Ross Ulbricht

The mounting donations come hot on the heels of reports about the presence of unconfiscated wallets belonging to Ulbricht. Conor Grogan, Head of Business Development at Coinbase, recently traced dozens of wallet addresses linked to Ulbricht. The addresses that supposedly evaded the US government’s crackdown during the Silk Road founder’s investigation contained around 430 BTC or roughly $47 at the time of the discovery.

Grogan wasn’t sure whether Ulbricht still had access to all the wallets in question. However, he assured the public, “We will know soon enough.” In other words, it may not be long until the mind behind Silk Road would cash in his remaining BTC, provided he still had their private keys.

A Mixed Sentiment Toward Ross Ulbricht’s Pardon

Ulbricht’s lengthy prison term was a result of his conviction following a Federal Bureau of Investigation (FBI) sting operation that eventually led to Silk Road’s closure. Along the way, the authorities confiscated a total of 114,000 BTC, which amounted to $28.5 million during the seizure or around $11.62 billion as of writing.

The court found him guilty of all charges stemming from his involvement in a criminal enterprise, narcotics conspiracy, conspiracy to commit money laundering, and conspiracy to commit computer hacking. Nevertheless, many in the crypto community considered his punishment to be connected to his role as an “early crypto builder.”

In fact, Ulbricht’s acts seemed to have been glorified in a new documentary made by filmmakers Blake Harris and Jonah Tulis, who were famous for their work in Console Wars. The film is currently in post-production.