Trump Pledges to Grant Pardon to Silk Road Founder Ross Ulbricht if Re-Elected
Ruholamin Haqshanas
Last updated:
May 26, 2024 04:00 EDT
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2 min read
Former President Donald Trump has made a commitment to provide a presidential pardon to Ross Ulbricht, the creator of Silk Road, if he wins re-election in the upcoming November’s election.
Trump made this announcement during the Libertarian Party’s National Convention in Washington on May 25.
“If you vote for me, on day one I will commute the sentence of Ross Ulbricht,” Trump stated during his speech.
He expressed his intention to bring Ulbricht, who has already spent 11 years in prison, back home.
Ulbricht, operating under the username “Dread Pirate Roberts,” established Silk Road in 2011. It was the first modern darknet market with a payment system built on Bitcoin. However, on October 1, 2013, the FBI seized Ulbricht’s personal laptop, leading to his subsequent arrest.
In 2015, Ulbricht was convicted in a U.S. federal court on various charges related to the operations of Silk Road. He was sentenced to two life terms plus forty years without the possibility of parole.
In addition to announcing his plan to pardon Ulbricht, Trump also expressed his support for cryptocurrencies, marking a shift from his previous skepticism towards digital assets.
He emphasized his commitment to ensuring that the future of cryptocurrency and Bitcoin is developed within the United States, rather than being driven overseas.
Furthermore, Trump promised to protect individuals who choose to hold their crypto assets outside centralized exchanges, advocating for the right to self-custody.
Trump also took a direct jab at Senator Elizabeth Warren, assuring crypto holders that he would keep her and her associates away from their Bitcoin.
The announcement of a potential pardon for Ulbricht by Trump has sparked discussions within the crypto and legal communities. While some argue that a pardon would give Ulbricht a second chance after serving a significant prison term, others are concerned about the implications of pardoning someone convicted of running an illegal marketplace.
Cryptocurrencies are not only gaining popularity among retail users but are also being used to influence politics. A well-funded political action committee (PAC) called Fairshake, supported by prominent figures in the cryptocurrency industry, is focusing on key Senate races with the aim of potentially shifting the balance of power in Congress. The PAC recently spent over $10 million successfully opposing a Democratic U.S. Senate candidate in California.
According to a report, approximately 73% of US voters believe that US presidential candidates should have an informed perspective on innovative technologies like artificial intelligence (AI) and cryptocurrency. Furthermore, California voters who own cryptocurrencies are expected to have a significant impact on the 2024 elections, as per a recent report from Coinbase.
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