Crypto fundraiser for Ross Ulbricht tops $270,000 one day after Trump pardon – DL News
- Ross Ulbricht has received $270,000 one day after being pardoned by Donald Trump.
- He spent 11 years in prison after running the Silk Road, a dark web marketplace.
- Questions arise about what Ulbricht will do with any Bitcoin he still owns.
Bitcoiners continue to rally behind Ross Ulbricht.
The founder of dark web marketplace, Silk Road, has received more than 2.6 Bitcoin, or $270,000 in donations after US President Donald Trump pardoned Ulbricht on January 21.
In one day, a wallet associated with Ulbricht has seen more than 170 Bitcoin transactions.
The Silk Road was a platform that predominantly dealt in illicit substances, and used Bitcoin as a medium of exchange.
At the height of its popularity, it accounted for 20% of all Bitcoin trading volume.
After operating for more than two years, authorities caught up with Ulbricht — who operated under the pseudonym Dread Pirate Roberts.
He was detained and arrested in a San Francisco library in 2013.
Same lunatics
Trump took to his social media platform Truth Social to voice his concerns about the judicial system that took down Ulbricht .
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Ulbricht’s trial came with controversy.
After he was sentenced to two life sentences, two DEA agents in charge of the investigation were convicted for extortion, obstructing justice and for stealing funds of up to 80,000 Bitcoin from Ulbricht.
Ulbricht’s coins
Now that he’s free, questions arise about what Ulbricht will do with any Bitcoin he still holds.
When detained, the FBI seized nearly 144,000 Bitcoin from Ulbricht’s personal wallet — which would’ve made him one of the largest Bitcoin holders. It’s not clear whether authorities are planning on selling those coins.
A Coinbase executive claimed to have identified 430 Bitcoin, worth $43 million, that belong now to Ulbricht
Ulbricht has yet to make a public statement following his release from prison.
He could not be reached for comments.
Pedro Solimano is a markets correspondent based in Buenos Aires. Got a tip? Email him at [email protected].
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