On June 1, 2025, Ross Ulbricht, the founder of the now-defunct Silk Road darknet marketplace, received a huge Bitcoin donation amounting to 300 BTC, valued at approximately $31.4 million. According to blockchain analytics firms Lookonchain and Arkham Intelligence, the transaction took place around 2:00 AM UTC, at a time when Bitcoin was trading near all-time highs at roughly $104,666 per BTC.
This massive donation dwarfs previous contributions made to Ulbricht’s “Free Ross” campaign, which had previously raised over $270,000 from dozens of smaller donors, including a notable $111,111 Bitcoin donation from cryptocurrency exchange Kraken earlier this year.
The source of the 300 BTC donation remains unknown, sparking widespread speculation within the crypto community about whether it came from an anonymous whale or institutional backer.
Ulbricht was sentenced in 2015 to life imprisonment without parole for his role in running Silk Road, a marketplace notorious for illicit goods. However, in January 2025, he was granted a full presidential pardon by former U.S. President Donald Trump and was released after serving nearly 12 years in prison.
Since his release, Ulbricht has been in the public eye again, raising funds through auctions of prison memorabilia that collectively raised around 12.31 BTC (~$1.3 million). Items included his final prison ID card, which sold for 5.5 BTC, a painting created with a fellow inmate, and other personal belongings.
This recent influx of Bitcoin could impact the market if Ulbricht decides to liquidate any of it, potentially adding downward pressure on BTC/USD and BTC/USDT trading pairs, which have seen billions in daily volume.
There are also reports that Ulbricht might still hold approximately 430 BTC from early Silk Road wallets, which have remained untouched for over 13 years, valued at nearly $47 million at current prices. This adds another layer of intrigue about his current financial status and control over these funds.
