Silk Road founder could reclaim $6.5B in Bitcoin after his pardon
SUMMARY
Ross Ulbricht, the founder of Silk Road, is back in the spotlight following his pardon by President Trump and release from a life sentence. With $6.5 billion in Bitcoin at stake, Ulbricht may now pursue legal avenues to reclaim the cryptocurrency seized from Silk Road, a move that could spark years of legal battles. Legal experts say that Ulbricht's chances hinge on whether the funds are still under court jurisdiction or if they've been deposited into the U.S. Treasury. If the funds are with the Treasury, Congress would need to authorize their return. However, if the assets remain within the court's jurisdiction, Ulbricht's legal team could mount a strong case. The government's handling of Bitcoin seized from cryptocurrency cases, including Silk Road, has become a contentious issue. Proceeds from past Bitcoin auctions were valued much lower than today's soaring prices. Should Ulbricht reclaim even a fraction of the $6.5 billion, it would mark a significant blow to law enforcement.
