Silk Road founder Ross Ulbricht, who was recently released from prison, is reportedly seeking funds to establish a new crypto firm. Venture capital firms such as a16z and Paradigm believe that Ulbricht's new venture could be valued at over $1 billion. Some members of the crypto community have criticized Ulbricht's involvement, highlighting the importance of innovation and achievement rather than PR and stardom. However, others view his supposed new venture as a positive development that could eliminate violent crime associated with the black market. Ulbricht's release from prison was facilitated by a plea to President Donald Trump, who promised to pardon him if reelected in 2024. Ulbricht had been serving a double life sentence plus 40 years for running the illegal marketplace Silk Road. His family and supporters claim that he is an entrepreneur committed to free markets and privacy. The Bitcoin community, including crypto exchange Kraken, has donated funds to support Ulbricht's cause. Questions remain about Ulbricht's financial status, with some speculating that he may still possess a significant amount of Bitcoin. The US government seized a large amount of Bitcoin from Ulbricht, but it is unclear if he still has access to any remaining funds.



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