Bitcoin’s Darknet Legacy: AlphaBay Ties Uncovered in $31M Ulbricht Donation

Blockchain forensic experts have traced a $31 million Bitcoin donation to Ross Ulbricht, the incarcerated Silk Road founder, revealing an unexpected connection to the defunct AlphaBay marketplace. Contrary to initial assumptions linking the funds to Silk Road, Chainalysis analysis confirms the 300 BTC originated from a probable AlphaBay vendor account. This discovery highlights Bitcoin's enduring role in darknet market transactions years after platform shutdowns, while demonstrating the growing sophistication of blockchain tracking tools in mapping cryptocurrency flows through historical criminal ecosystems.

Ross Ulbricht’s $31M Bitcoin Donation Traced to AlphaBay, Not Silk Road

Blockchain analysts have identified the source of a controversial $31 million Bitcoin donation to Ross Ulbricht, the imprisoned founder of Silk Road. The funds, originally suspected to be linked to Ulbricht's defunct darknet marketplace, were instead traced to AlphaBay—a successor platform that operated from 2014 to 2017.

Chainalysis confirmed the 300 BTC transfer originated from a likely AlphaBay vendor, citing transaction patterns and scale. The donation followed Ulbricht's January pardon by former President TRUMP after serving 12 years for operating Silk Road.

Independent investigator ZachXBT had previously flagged laundering red flags, including the use of mixing services like Jambler to obscure the funds' path. The revelation underscores the persistent liquidity of crypto assets tied to historical darknet activity.

Uber Explores Stablecoin Payments for Global Transactions

Uber CEO Dara Khosrowshahi has reignited discussions about cryptocurrency integration, revealing the company's active evaluation of stablecoins for cross-border payments. Speaking at the Bloomberg Tech conference, Khosrowshahi highlighted the operational advantages of asset-backed digital currencies, particularly their efficiency in international money transfers.

The ride-hailing giant previously demonstrated its crypto-forward stance as an early supporter of Meta's ill-fated Diem project. While Khosrowshahi confirmed Uber's continued interest in bitcoin and other cryptocurrencies as payment options, he clarified the company currently has no plans to hold digital assets on its balance sheet.

Bitcoin Eyes $112K Target as Fed Rate Decision Looms Amid Surging Network Activity

Bitcoin's price trajectory faces a pivotal moment as the Federal Reserve's June 18 rate decision approaches. The cryptocurrency recently touched a record $111,970 before settling NEAR $102,766, maintaining a 6.72% monthly gain despite consolidation. Analysts suggest early rate cuts could propel BTC toward the psychologically significant $112,000 level.

Network fundamentals reinforce bullish sentiment. A staggering 557,000 new wallets emerged on May 29—the highest since December 2023—while large investors amplified purchases by 145% weekly and 214% monthly. Trading volume peaked on June 2 with 241,360 BTC changing hands, marking the busiest day since December 2024.

Market participants overwhelmingly anticipate the Fed maintaining rates at 4.25%-4.50%, with tariff policy uncertainties lingering as a wildcard. The US Court of International Trade's recent blockage of Trump-era tariffs adds complexity to macroeconomic forecasts.

Bitcoin Mines 900,000th Block, Setting Stage for 2028 Halving

Bitcoin's network has reached a significant milestone with the mining of its 900,000th block, underscoring the cryptocurrency's relentless consistency and long-term design. ViaBTC, a major mining pool, processed the block—packed with 1,562 transactions and minimal fees—highlighting the network's efficiency.

The achievement marks the countdown to the next halving event, projected for block 1,050,000 around March 2028. Miner rewards will then drop from 3.125 BTC to 1.5625 BTC, a programmed supply shock that historically influences Bitcoin's market dynamics. The 1 millionth block is expected by May 2027, but the halving remains the focal point for miners and investors alike.