Kraken Donates $111,111 in Bitcoin to Ross Ulbricht Following Presidential Pardon

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You Won’t Believe What Kraken Did for Ross Ulbricht After His Pardon! 😱

So, here we go again. The crypto world is at it, and this time they’re backing Ross Ulbricht, a guy who, let’s be honest, has quite the history. He’s out of prison, thanks to some last-minute presidential magic, and now, in what can only be described as a bizarre “welcome back” gift, Kraken has donated a whopping 111,111 Bitcoin (yes, in case you missed it, that’s Bitcoin) to help him “restart his life.” Like, really, this is happening.

Let’s break this down: Kraken—one of the biggest cryptocurrency exchanges—decided to give Ulbricht a hand by tossing him some crypto. Sure, it’s only $111,111 worth of Bitcoin right now (I mean, that’s like pocket change in crypto land), but it’s the thought that counts, right? Or is it? Is it really?

The donation announcement was made on January 22, a day after former President Donald Trump, in a truly “only-in-America” move, pardoned Ulbricht. Yeah, because that’s what the country needed right after his release from his over-a-decade-long sentence for running the Silk Road dark web marketplace. 🎉

So, What’s The Deal With Ross Ulbricht Anyway?

Oh, Ulbricht. A name that’s as synonymous with crypto as it is with, well, controversy. If you don’t know, Ross Ulbricht founded Silk Road, a darknet marketplace where people did, you know, illegal stuff—like buying and selling illegal drugs—using Bitcoin. 🤑

He got arrested in 2013, and in 2015, he was handed a sentence so long it made you wonder if they just didn’t know when to stop counting. Two life terms and 40 years, no parole. For running an internet marketplace. Does that sound a little extreme? Maybe. Was it? People argue both sides. Even Trump thought it was “ridiculous.” Classic.

“Dear Ross,

We at Kraken want to make sure you’re able to get back on your feet after all you’ve been through. So, we’ve got your back with some Bitcoin love. Here’s $111,111 to get you started.”

-Kraken

— Kraken Exchange (@krakenfx) January 22, 2025

And you thought your last birthday gift was something special. But I guess when you’re Ross Ulbricht, you get $111,111 worth of crypto from a company that makes billions every day. How’s that for support, huh?

The $47 Million “Lost” Bitcoin: Because Why Not?

Hold up, it gets better. Thanks to this little pardon party, there’s renewed interest in the Bitcoin wallets linked to Ulbricht, and—surprise!—some of those wallets are holding a stash of roughly 430 BTC, valued at around $47 million. It’s like finding an old wallet in your jacket and realizing it’s packed with cash. Except this is 47 million dollars worth of Bitcoin. No big deal, right?

Conor Grogan, a Coinbase executive, casually dropped the news that these wallets have been untouched for over 13 years. Probably thought they were worthless back in the day, huh? Not so much anymore, my friend.

“Welcome back, Ross.”

What’s Next for Ross Ulbricht?

So now that Ross is free, with a shiny new Bitcoin balance, what’s next? Is he going to take up knitting? Build a cryptocurrency empire? Maybe just invest in Dogecoin for old times’ sake? Who knows.

His supporters hope he’ll keep on fighting for decentralization, internet privacy, and, of course, crypto adoption. But let’s not pretend everyone’s on the same page about his “legacy.” There’s a whole debate going on about whether this pardon was a good idea or just an act of total chaos. 🤔

At the end of the day, though, Kraken’s donation and the broader crypto community’s love show one thing loud and clear: Ulbricht isn’t just some criminal in their eyes. Nope. He’s a symbol of the Bitcoin dream—a decentralized financial system beyond the reach of the government. Who’s laughing now? 🍿

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2025-01-23 13:52