TruthLabs, a blockchain investigative analyst, has accused Ethereum co-founder Vitalik Buterin of benefiting from Bitcoin seized from Ross Ulbricht’s Silk Street pockets throughout Ethereum’s preliminary coin providing (ICO). The allegations emerged following an internet change between Buterin and Ulbricht on January 19, 2025.
Ulbricht, who’s serving a life sentence for working the Silk Street market, took to X to make clear his non-involvement with meme cash bearing his title. Vitalik responded with a message of assist, calling Ulbricht’s life imprisonment “absurd” and expressing hope for his freedom.
TruthLabs’ Allegations
Within the early hours of at present, TruthLabs posted a sequence of claims alleging that Bitcoin from Ulbricht’s seized pockets was used to fund Ethereum’s ICO and the Ethereum Basis. They said that the downfall of Silk Street and the confiscation of its belongings offered the monetary basis for Ethereum’s success.
In line with TruthLabs, Buterin was allegedly conscious as early as January 2014 that Ethereum’s ICO could be funded by Bitcoin linked to Silk Street belongings and the collapsed Mt. Gox change. The submit criticized Buterin for not main efforts to assist Ulbricht’s freedom, regardless of Ethereum allegedly benefiting from his imprisonment.
“Vitalik, your ICO, and your Basis’s wallets had been funded from Bitcoin that got here from Ross Ulbricht’s seized Silk Street pockets,” TruthLabs wrote.
They additional condemned Buterin for permitting grassroots actions like Free Ross DAO to depend on public donations whereas offering solely minimal public assist himself.
Broader Context and Response
Ross Ulbricht’s life sentence has lengthy been a contentious subject, with supporters advocating for clemency and criticizing the severity of his punishment. Free Ross DAO, a decentralized fundraising initiative, has raised vital funds to assist Ulbricht’s authorized efforts.
Neither Buterin nor the Ethereum Basis has responded to the allegations on the time of writing. Nonetheless, the claims have reignited debates over the origins of Ethereum’s funding and the moral tasks of its management.
In the meantime, through the U.S. president-elect Donald Trump’s marketing campaign, he made a pledge to the crypto group to free the Silk Street creator, Ross Ulbricht, if re-elected. Notably, with Trump taking workplace at present, whether or not he’ll fulfill the promise stays to be seen.
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