Ross Ulbricht Receives 1 $BTC From Kraken, But Silk Road Founder Supposedly Has $47M Stash

Cryptocurrency exchange Kraken has donated over $100,000 worth of Bitcoin to Silk Road founder Ross Ulbricht, just as rumors emerged about digital wallets supposedly linked to the darkweb marketplace creator that have multi-million-dollar cryptocurrency holdings.

Kraken revealed Wednesday that it donated $111,111 in BTC to the freed computer specialist to make sure Ulbricht will be able "to land on your feet with the support of the community that loves you the most, the Bitcoin community." One Bitcoin is currently worth over $102,400.

Kraken Calls for More Donations

Kraken has also called on the crypto community to make more Bitcoin donations to a wallet the exchange set up on the freed Silk Road creator's behalf. "100% of funds will go directly to Ross," Kraken noted.

It also provided a link to the Free Ross movement's website, where the same digital wallet address provided by Kraken for donations is listed. Mempool data shows that the digital wallet now has 2.569 BTC worth over $262,000. As of writing, the wallet has had 161 transactions.

Bitcoiners have since praised Kraken for making a move to help support Ulbricht's life after prison.

Tech titan Elon Musk was among the people close to the president who confirmed Monday that Ulbricht will be freed. A day later, Trump announced a full and unconditional pardon for the 40-year-old libertarian.

Does Ulbricht Need Donations?

Kraken's donation came just as some crypto holders were discussing Coinbase executive Conor Grogan's Wednesday revelation that he discovered 430 Bitcoins across "dozens of wallets associated with Ross Ulbricht."

Grogan further revealed that the wallets were not seized by the U.S. government "and have been untouched" for over 13 years. Based on current Bitcoin prices, the wallets now collectively hold BTC worth some $47 million.

When Silk Road was shut down and Ulbricht was arrested, U.S. authorities seized digital wallets linked to the darknet website. The Justice Department also seized over 50,000 in Bitcoin from James Zhong, who siphoned the digital coins from Silk Road back in 2012.

Grogan noted, though, that it was "unlikely" Ulbricht still had the keys to the long-lost wallets, but the crypto community will find out soon enough that the Silk Road founder kept the keys to what could have been "dust" wallets in the past.

One crypto user had an interesting take on the matter. "His picture leaving the prison had him with a plant. Symbolizing – he kept his seed[s] phrases and Bitcoin has been growing," suggesting Ulbricht kept his keys tucked away safely while he was in prison for over 11 years.

The Free Ross movement's official X handle posted what is known as the first post-prison image of Ulbricht. In the image, he is seen smiling while holding what appeared to be a plant in a small, white pot.

It remains to be seen how Ulbricht's life will unfold after his 11-year stint behind bars. He has yet to issue an official statement following the pardon.

Before freedom, Ulbricht was faced with two life sentences without the possibility for parole for his operation of Silk Road, where users engaged in illegal activities such as sales of weapons and drugs.