LAS VEGAS, Nevada — Silk Road founder Ross Ulbricht addressed the cryptocurrency audience with a pressing message: preserving freedom hinges on unity and decentralization, albeit this involves struggle.
In an emotionally charged keynote that rounded off Bitcoin 2025 in Las Vegas, marking his first public appearance post-release from prison in January, Ulbricht illustrated vital principles of freedom, unity, and decentralization through a personal anecdote.
In the early days of Silk Road, Ulbricht recounted his ambition to cultivate hallucinogenic mushrooms to support the darknet marketplace. He described a remote cabin he rented, which was plagued by wasps. Using a technique his father taught him, he attempted to capture the wasps’ nests by covering them with a towel.
“My heart was pounding,” Ulbricht remarked. “I selected the nest that was furthest from the others, because I didn’t know if the other nests would come and sting me. I was ready to flee.”
Translation: “My heart was pounding. I chose the nest that was farthest away. I wasn’t sure if the other wasps would attack. I was prepared to run.”
He noted that the wasps remained formidable due to their decentralized nests, making it unpredictable for anyone to track their movements. However, Ulbricht pointed out their ultimate weakness: a lack of unity.
“Had a single wasp dared to sting me when I reached for that first nest, I would have fled… but they didn’t. Thank god you are not wasps,” he added.
Translation: “If one wasp had the nerve to attack me as I reached for that nest, I would have run away… but they didn’t. Thankfully, you aren’t wasps.”
Following a pardon from U.S. President Donald Trump in January — fulfilling a campaign promise — Ulbricht spent twelve years incarcerated, with this speech coinciding with the tenth anniversary of his sentencing to life imprisonment by a New York judge.
Ulbricht appeared vibrant during the keynote, reflecting on personal moments since his release — including travel adventures and time with family, shown in a montage before his address on stage.
“Finding your freedom brings a joy that losing it brings despair,” Ulbricht expressed, acknowledging the crypto community for rallying for his release. “I am free, thanks to you. You made this possible… Thank you, thank you, thank you.”
Translation: “Gaining your freedom is as exhilarating as losing it is devastating. I am free, because of you. You made this moment happen… Thank you, thank you, thank you.”
Overwhelmed by the technological leaps during his absence, Ulbricht remarked,
“There are many new cryptocurrencies and evolving blockchains, each remarkable in its own way, alongside thousands more I may never comprehend. There’s DeFi, Web3, and AI aiding my navigation. It’s overwhelming.”
Translation: “There are so many new cryptocurrencies and blockchains, each interesting in its own way, and countless others I will never have time to explore. There’s DeFi and Web3 and AI to help guide me. It’s crazy.”
Concluding his speech, Ulbricht shared insights on prison dynamics, emphasizing how wardens benefit from inmate divisions.
“The only times I saw the wardens respect the prisoners was when we stood together,” he stated. “Those who fight against decentralization and freedom thrive on our division; I assure you, remain united. If we can agree that we deserve freedom and see decentralization as the route to secure it, then we can remain united… uphold these values, and our future is bright.”
Translation: “The only moments I witnessed the wardens giving respect to the inmates was when we were united. Those opposing decentralization and freedom love our separation; I promise you, stay together. As long as we concede that we deserve freedom, and decentralization is the means to secure it, then we can unite… adhere to these ideals, and the future is ours.”
