Ross Ulbricht, the founder of Silk Road, has been granted a full and unconditional pardon by U.S. President Donald Trump after over a decade of imprisonment.
Ulbricht, who was serving multiple life sentences without parole for his role in creating the infamous darknet marketplace, expressed his gratitude and joy in a video shared online.
Ross Ulbricht has now finally been released from prison, and the joy of his newfound freedom is evident in the smile on his face.
In a heartfelt video posted on X, Ulbricht thanked Trump, saying,
“This is such an important moment for me and for my whole family... It’s an important moment for everybody who’s been working for this for years. This is a victory, and it’s your victory, too.”
The former prisoner, who had been held at a maximum-security facility in Arizona, spoke of his future plans, noting that he would first focus on reuniting with his family and healing from the years of incarceration.
Ulbricht declared,
“I’m a free man now.”
Acknowledging Trump’s role in granting him freedom, he remarked,
“Let it be known that Donald Trump is a man of his word.”
pic.twitter.com/pbqRh9spnk
— Ross Ulbricht (@RealRossU) January 24, 2025
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Following the pardon, Ulbricht has received an outpouring of support, including financial assistance to aid his transition into life outside prison.
A campaign dedicated to him on X has raised over $270,000 in Bitcoin donations.
190 transactions have been made to the Bitcoin wallet, according to bitaps.com.
Kraken, a major cryptocurrency exchange, contributed $111,111 to the cause, while other donations have come in the form of Ether, Solana, and smaller amounts of other popular digital currencies.
Ulbricht’s release has been described as a whirlwind, with supporters sharing the emotional moment of him reuniting with his family.
The ‘Free Ross’ campaign’s X account shared the heartwarming reunion,
“Ross got to hug his wife, mom, dad & sister outside the walls of prison. The past 36 hours have been a complete whirlwind.”
Silk Road, which Ulbricht created in 2011, facilitated the anonymous trade of illicit goods, including drugs, and used Bitcoin for transactions.
The platform played a significant role in the early adoption and popularisation of cryptocurrency.
Ulbricht’s arrest and conviction in 2015 highlighted the potential for digital currencies to be used in illegal activities, though his supporters argue his sentence was disproportionate.
In addition to the donations, it has been revealed that Ulbricht may have millions of dollars in Bitcoin tied to dormant wallets.
Conor Grogan, a director at Coinbase, discovered 430 BTC, currently valued at around $47 million, that remain untouched across several wallets linked to Ulbricht.
These wallets, which have been inactive for more than 13 years, were not confiscated by authorities.
Data from Arkham Intelligence has corroborated Grogan’s findings, identifying 14 Bitcoin addresses tied to Silk Road, including one wallet containing over $9 million worth of BTC.
Ulbricht, now 40, expressed immense gratitude for his release and the chance to rebuild his life,
“Thank you so much, President Trump, for giving me this amazing blessing. I am so, so grateful to have my life back, to have my future back.”
He also added,
“This is a victory... And this is an important moment for everybody everywhere who loves freedom and who cares about second chances.”
As he embarks on a new chapter, Ulbricht plans to focus on healing and spending time with his loved ones after over 11 years of imprisonment.
Standard Chartered encouraged investors to buy Bitcoin during price dips, projecting it could reach $200,000 by 2025. The bank attributed recent market corrections to regulatory uncertainty but expects institutional investments to drive future growth.
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