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Trump pardons Silk Road founder Ross Ulbricht, unable to recover auctioned Bitcoin
According to WuSay, Trump pardoned Silk Road founder Ross Ulbricht, ending his nearly 12-year prison sentence. In 2013, the FBI seized 144,000 bitcoins held by Ulbricht, which were auctioned by the U.S. Marshals Service in 2014 for about $48 million.
At current prices, these bitcoins are worth about $14 billion. Venture capitalist Tim Draper bought about 30,000 bitcoins at the auction. Although Ulbricht was pardoned, he cannot recover the assets due to a 1993 Supreme Court ruling.
The FBI wallet that once held Ulbricht’s bitcoins now holds just over 1 bitcoin, with a balance of about $129,000. It is unclear what will happen to the funds.
At current prices, these bitcoins are worth about $14 billion. Venture capitalist Tim Draper bought about 30,000 bitcoins at the auction. Although Ulbricht was pardoned, he cannot recover the assets due to a 1993 Supreme Court ruling.
The FBI wallet that once held Ulbricht’s bitcoins now holds just over 1 bitcoin, with a balance of about $129,000. It is unclear what will happen to the funds.
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