USDT and the Crypto Community’s Generosity: A $31M Bitcoin Donation for Ross Ulbricht
In a remarkable display of solidarity, the cryptocurrency community has rallied behind Ross Ulbricht, the founder of the Silk Road marketplace, following his presidential pardon. Within hours of his release, a staggering 300 BTC, worth approximately $31.4 million, flooded into his donation wallet. This overwhelming support highlights the enduring sympathy and loyalty Ulbricht commands within crypto circles. The swift and substantial donations underscore the decentralized and community-driven ethos of the cryptocurrency space, where major industry players and individual contributors alike can make a significant impact. As of June 2025, this event not only reflects the financial power of the crypto community but also its ability to mobilize quickly for causes it believes in. The use of Bitcoin for such a high-profile donation also reinforces the currency’s role as a preferred medium for large-scale, transparent transactions in the digital age.
$31M Bitcoin Donation Floods In For Pardoned Silk Road Founder Ross Ulbricht
Ross Ulbricht, the founder of the infamous Silk Road marketplace, has received an overwhelming show of support from the cryptocurrency community following his presidential pardon. Within hours of his release, 300 BTC—valued at approximately $31.4 million—were deposited into his donation wallet. This surge of generosity underscores the enduring sympathy for Ulbricht within crypto circles.
Major industry players like Kraken contributed $111,111 in Bitcoin, while grassroots campaigns raised an additional $270,000. Blockchain analytics platform Lookonchain confirmed the substantial transaction, which provides Ulbricht with significant resources to rebuild his life after serving 11 years of a double life sentence.
The donations, spanning multiple cryptocurrencies including ETH, USDC, USDT, and BNB, reflect broad-based support. Ulbricht’s pardon by former President Donald TRUMP in January 2025 continues to polarize, but the crypto community’s response demonstrates its capacity for redemption narratives.
Tron Flips Cardano to Enter Top 9 Cryptocurrencies by Market Cap
Tron (TRX) has surged past Cardano (ADA) to claim the ninth spot in cryptocurrency market rankings, with its capitalization climbing from $24 billion to $25.79 billion. The network’s resilience during broader market volatility and its dominance in USDT and stablecoin transfers have fueled this ascent.
A pivotal shift occurred as Tron surpassed Ethereum in stablecoin transaction volume, signaling a liquidity migration that bolstered investor confidence. The TRX price rose 9.6% weekly amid speculation around a staked ETF proposal from Canary Capital, though regulatory approval remains pending.
Despite trading at $0.27—well below its $0.4407 peak—the breach of key resistance levels suggests growing momentum. Market observers attribute the rally to institutional interest in crypto ETFs, with May 2025 poised as a potential inflection point for the sector.
PrimeXBT Expands Regulated Crypto Services in South Africa with FSCA Approval
PrimeXBT has secured regulatory approval from South Africa’s Financial Sector Conduct Authority (FSCA), marking a strategic expansion into one of Africa’s most dynamic financial markets. The license enables the platform to offer crypto asset services, including deposits, withdrawals, and trading via MT5, PXTrader, and Crypto Futures.
South African traders now gain access to margin trading with BTC, ETH, USDT, and USDC, alongside CFDs spanning stocks, indices, forex, and commodities. The platform’s integrated tools facilitate instant crypto-to-crypto conversions and stablecoin exchanges.
"This milestone reflects our commitment to advancing regulated crypto adoption globally," said Sihle Tuta, PrimeXBT’s Head of Region for South Africa. The firm positions itself as a bridge between traditional and digital asset markets, emphasizing trust and innovation through its unified trading ecosystem.
