"Did Ross, the ancient god of the crypto world pardoned by Trump upon taking office, issue a coin?"
Summary:
Ross is a legendary figure in the crypto world, a contemporary of Satoshi Nakamoto, the founder of Silk Road, and a key player in the first large-scale adoption of Bitcoin shortly after he famously bought pizza with 10,000 BTC. He is an important character in Bitcoin's history.
Recently, his namesake coin has experienced significant ups and downs, undergoing several thorough washouts (reminiscent of early pnut). After receiving coverage from the on-chain data tracking platform @arkham last night, it gained considerable attention. Here, I will share the relevant information for your reference.
The following is the main text
$Ross had a market cap of over 6 million in the morning when shared in the group, peaked at 17 million, then fell back to 8 million, and is now at 12 million.
This coin has gone through a very dramatic storyline, with most people currently at a loss and a lot of uncertainty, but it still holds some research value.
Contract Address
2q8Y8rubbsaaA3faq8Ytsk382JXgtKdn23qjNXhSpump
1. Who is Ross?
He is a contemporary of Satoshi Nakamoto and an indelible figure in Bitcoin's history, even a key player in Bitcoin's development.
Satoshi Nakamoto published the white paper in 2008, launched the Bitcoin network in 2009, and gradually faded from public view by December 2010, ceasing public activities.
At that time, Bitcoin was still in the early stages of difficult promotion and adoption by believers. May 22, 2010, is now designated as Bitcoin Pizza Day, when programmer Laszlo Hanyecz purchased two pizzas for 10,000 BTC, marking Bitcoin's first real-world transaction.
In 2011, Ross founded Silk Road, supporting Bitcoin transactions for any items, similar to a blockchain version of Xianyu. Although the majority of transactions on the site involved marijuana, its decentralized nature led to many illegal incidents—this reflects the chaotic early days of blockchain. Ross paid the price for this, receiving a life sentence without parole. During his years in prison, he has repeatedly expressed remorse and has been a model prisoner, receiving letters from over 150 inmates requesting his release.
From my personal perspective, during Bitcoin's most primitive period, even in the early days of the internet, he likely had many unforeseen impacts on later developments—today, content moderation and compliance have become major human resource consumption scenarios for internet companies.
Silk Road was a far-reaching event, being the first large-scale application scenario for Bitcoin, proving its feasibility as a "decentralized currency." Between 2011 and 2013, the platform processed over 9.5 million Bitcoin transactions (worth about $1.2 billion at the time), accounting for a significant proportion of Bitcoin's circulation. Despite its use for illegal transactions, Silk Road attracted a large number of users and investors, facilitating Bitcoin's transition from a geek experiment to an asset with real economic value.
Ross's case prompted global regulators to pay attention to the anonymity risks of cryptocurrencies, accelerating the introduction of anti-money laundering (AML) and know your customer (KYC) policies (such as the U.S. FinCEN guidelines in 2013).
Ross's story has become a complex and profound footnote in the history of the crypto world.
In Bitcoin's history, Ross has many firsts:
- The first radical practitioner to widely promote Bitcoin adoption.
- The first participant to receive a life sentence due to Bitcoin.
As Bitcoin entered the mainstream, Ross also achieved a new first:
He became the first crypto figure released on the first day of President Trump's administration.
In Trump's statement announcing Ulbricht's release, he said: "I just called Ross William Ulbricht's mother to let her know that, in honor of her and to pay tribute to the strong support for my libertarian movement, I am pleased to sign a full and unconditional pardon for her son Ross." Trump stated in a post on his personal media. "The scum trying to convict him are the same people who are armed government lunatics opposing me. He was sentenced to two life terms and 40 years. Absurd!"
2. The Token Ross
On January 20, Ross posted a statement on his personal Twitter @RealRossU saying, "I have no involvement or association with any memecoin named after me. There is no official Ross coin." The recent meme coin craze was initiated by Trump on January 18, 2025, and this statement has two possible interpretations:
- He is not interested in meme coins or hasn't thought it through yet.
- He has his own token to support.
However, two days later, on January 22, a token named Ross was created on pumpfun, with 50% of the supply sent to Ross's official fundraising wallet, which is:
B5ScJw8Dw7e1zXoh2ut2F81WVXmGaPWqZZ6JEYBZfAJK
This wallet address belongs to https://freeross.org/
This is the official website for freeing Ross, operated by Ross's family and supporters, clearly led by Ross's family (such as his mother Lyn Ulbricht) and his legal team. Lyn Ulbricht has mentioned this platform multiple times in media interviews and open letters and has personally participated in organizing activities.
http://freeross.org has initiated several initiatives, including submitting petitions to the White House, producing the documentary "Deep Web" to expose the case's controversies, and raising funds for legal litigation. In the donation section of the website, the aforementioned wallet address can be seen.
3. Dramatic On-Chain Activity
The following on-chain content is sourced from overseas blogger @PikaPikaLore.
These airdropped tokens were transferred to a new address:
3iSRCJwUhKPZ6WMwHb8yrueKHoYQAGgbPg2TyDLumdSK
This address is reasonably speculated to be controlled by Ross himself—before his release, it should have been controlled by his family, and after his release, it is reasonable for him to create a wallet he independently controls.
Ross initially transferred 4% of the supply and continued to transfer the remaining 46% over the next two days.
In the following days, he engaged in some interesting operations, which could also be our opportunity!
On January 24, 2025, at 9:58 AM, this address performed some operations that seemed to be familiarizing itself with the Solana ecosystem, selling a total of 13,000 U in seven transactions.
On January 26, 2025, at 02:11:31, he made a buying operation, placing a limit order. At this time, the coin's FDV was at $15 million, and he placed a buy order at a market cap position of $5 million.
This part had both buying and selling, indicating he was still researching and experimenting. However, a significant event occurred regarding adding liquidity:
First, there are several liquidity management solutions in the Solana ecosystem, with Meteora and Ray being the mainstream ones. For example, the previous Trump token was issued on Meteora, while most pumpfun tokens went directly to Ray. The two liquidity management solutions on Solana have significant differences; the former allows for unilateral additions, with dynamic price adjustments or external oracle references, causing minimal market impact; while the latter, Ray, requires proportional additions, using the traditional constant product formula (X×Y=K), and unilateral additions can lead to price crashes.
Understanding the principles, let's look at his operations:
On January 27, 2025, at 08:10:10, he began attempting to add liquidity, adding $4,000 worth of unilateral tokens to the Meteora liquidity pool, and everything went smoothly!
Two days later, it is speculated that he must have learned a lot of knowledge.
On January 29, 2025, at 07:18:33, he added 5% of $ROSS tokens to the Ray pool with an amount of 0.01 SOL:
This caused arbitrage bots to immediately spring into action, buying at low prices and then dumping, causing the market cap of $ROSS to drop from $19 million to $2.9 million.
Here, I noticed that before he added liquidity, the coin had already dropped from $40 million to $20 million. Such a drop is actually quite common in early meme coins, and his timing for adding liquidity was at what seemed to be a support level, perhaps intending to act as a positive signal? However, this could easily lead a newcomer like Ross to feel that after seeing the price continue to drop post-addition, something unexpected had occurred.
On January 29, 2025, at 08:04:39, he may not have realized his mistake, and quickly paired again with 0.01 SOL to add 350 million $ROSS (35%) to Ray. The arbitrage bots again took the opportunity to buy the supply at low prices and dumped it at lightning speed, causing the market cap of $ROSS to drop to $3 million.
The continuous price drop should have made him realize he made a mistake. At this point, he still held 10% of the tokens but did not make any more "reckless operations." The above actions were certainly not intended to crash the price, as crashing would not require such methods. The issuance of the Trump token should inspire many, as the Trump token earned nearly $100 million just by collecting transaction fees.
On January 29, 2025, at 19:59:45, he added the remaining tokens to the liquidity pool, about 10%. This time, it did not trigger a major price crash; after surging to $6 million, it gradually fell to $1.5 million.
In this part, I wonder why the final addition to the Ray pool did not trigger a crash. I am not very familiar with these mechanisms, so I didn't quite understand. I only received feedback from the above-mentioned poster that he added correctly this time—this part awaits feedback from the technically skilled members in the group.
This time he added correctly, but the coin price only rose from $3 million to $6 million before dropping to a market cap of $1.5 million. I think this is understandable; the previous trends and unexpected events caused many smart investors to incur losses, and newcomers would see it as a common zero-value coin. According to gmgn data, the current average loss among the top 100 is 32%, with many losing hundreds of thousands of U. Of course, from another perspective, everyone is gambling, and it feels like betting on certain events at this time might have a slight advantage, at least much better than most garbage angles.
4. Some Risks and Comprehensive Considerations
- The Best Plan for Ross
For Ross, he has just come out, and the world outside has changed dramatically, but I believe he has a strong learning ability and will continue to love this world and the crypto space.
Years of prison life will undoubtedly make him cherish freedom and compliance, so he will be cautious in expressing opinions and participating. However, with Trump as a precedent, he will likely gain a good reference (as seen from his first addition to the pool on Meteora).
From my perspective, although issuing coins like Trump is currently quite free, under the current circumstances, community-issued coins mean he is merely receiving tokens donated by the community and adding liquidity to the tokens, which benefits both the community and the market. If the token becomes successful later, he can earn continuous transaction fee income, which is very reasonable and legal from any regulatory perspective.
Therefore, I think his best approach would be to express gratitude for the community's donations and state that all tokens have been added to the liquidity pool and will not be sold, creating a comfortable situation—he earns transaction fees, and his supporters participate in token trading, creating a win-win situation for all parties.
Unfortunately, I do not know him and cannot give him this advice. Those who know him overseas can refer to this—of course, my viewpoint may not be correct; there may be many more experts around him.
- Related Risks
It is important to note that there is uncertainty regarding whether the actions associated with the above address are indeed those of Ross himself (even if not, there is a strong correlation), and what his attitude is. For example, unexpected plot twists could arise, such as him coming out and issuing a new coin, which would certainly be problematic.
3. Balancing Returns and Risks
If his statements are positive, there is potential for a market cap exceeding $1 billion, which is determined by his status.
At the same time, considering the previous rounds of dramatic washouts, the distribution of chips may be better than that of most tokens.
Additionally, today the media began reporting on Ross's erroneous operation involving $12 million, stating that he still holds 10% and has correctly added liquidity. I believe there may be room for this narrative to gain traction—especially since yesterday, I noticed that the discussions around the coin JellyJelly were minimal, suggesting that few people likely got in.
Currently, all exchanges are on holiday, and the listing of new coins will be slower. From another perspective, this is a good thing. If we look at it optimistically, "the first crypto legend of Trump’s era," even if not directly related, a pure meme coin is not worse than most meme coins. Considering market cap and chip distribution, it still looks decent.
Overall, this is like a hundred times leverage that won't lead to liquidation; if you bet right, it could go from $10 million to $1 billion, a hundredfold; if you bet wrong, it could go to zero.
This is the nature of memes, and also their advantage.
Finally, a risk warning again:
Because the levels of fans vary, I will not and cannot give any advice. All memes are high-risk and have the potential to go to zero. For newcomers, it is best to hold BTC. If you want to play with memes but lack confidence, there are only two approaches:
- Hold SOL and let others chase the meme, while you take a small gain from the idea that "if the meme can thrive, SOL can rise."
- Alternatively, use a small amount of capital that could go to zero to participate, survive longer, and gain more experience to develop your own judgment before engaging in riskier operations.
I am only sharing information randomly and publicly; whether you get in or when you exit is beyond my capability—one characteristic of the crypto world is that aside from BTC, everything can go to zero. Newcomers should be cautious of seeing others hype a coin; even if it rises 100 times in the middle, if it later crashes, they will come back and blame the person who shared it. This group represents the highest proportion in the market and also incurs the most losses.
Some Related Addresses
The SOL receiving address on the official website https://freeross.org
B5ScJw8Dw7e1zXoh2ut2F81WVXmGaPWqZZ6JEYBZfAJK
50% of the airdrop hash
https://solscan.io/tx/L3jiEBfaDjMEYiDTsziX9zr7498oajzGywf3uMQChrVBRTwZEA4GZoWb6qjy1VxTMvZMjrE7mQkfrxQqTHz766x
The above official receiving address has been transferred to what should be Ross's personal address
3iSRCJwUhKPZ6WMwHb8yrueKHoYQAGgbPg2TyDLumdSK
Ross's first attempt to sell
https://solscan.io/tx/3esVhNbYdSqwYdw6JyMJoWJQicYNDRoBRQXXPbw2K2zLtqLEVXTGRPGGggmLc9AF2LFV4ubap9N9hidfCNZzhbjm
Ross's first attempt to buy
https://solscan.io/tx/2RwK1m64umEXRu4EUSCiCES16LRaGaPfz7kWNbUsLKmcCQghmgfaYMc9jcG6Gt8VVV7qZjaHtWkUhFUyfCW5yYpa
First correct addition of liquidity to Meteora
https://solscan.io/tx/4TXRM5LULXYnHx54MzfDYmW44PVL4rVrAej95R6NYMbHjK8HjaJT5eFq9kftwpTtywD62ruMTz96kdbEFAeb4Yay
First incorrect addition of 5% liquidity to Ray
https://solscan.io/tx/igS2EAM4hhayRizfHmWbDP3rFKHnFTjdE89puNYK5umudJorGCh9JQnTfoyHPn3diAQbG9TfKRUpgrkK3q2dLYj
Second incorrect addition of 35% liquidity to Ray
https://solscan.io/tx/2DQeiNdAtLgGDU1WZwgKyyHQ4cgX59sYNMcurcLNchkqnnvTiMGabhj6PziHvMwbpX4makPSAE9PcCa6BjAKANVP
Third correct addition of 10% liquidity to Ray
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