Trump Pardons Silk Road Founder Ross Ulbricht
US President Donald Trump pardoned Ross Ulbricht on Tuesday, ending a double life sentence for the Silk Road founder.
Ulbricht, 40, was convicted of creating and operating the Silk Road marketplace, which sold illegal goods and services using Bitcoin. Generated over $200 million in transactions.
Ross Ulbricht finally released after more than a decade in prison
This move paid off Trump campaigned on a promise to free Ulbrichthis case has become a landmark in the legal and crypto worlds. His arrest in 2013 was one of the first major prosecutions involving the emerging use of cryptocurrencies for illegal activity.
this Silk Road Platform Operation Between 2011 and 2013, the website hosted more than 100,000 users and engaged in the sale of illegal drugs and services worth approximately $214 million.
“I just called the mother of Rose William Ulbright to let her know that in honor of her and the liberal movement that so strongly supports me, I am pleased to have just signed a full and unconditional pardon for her son Rose. He Sentenced to two life sentences plus 40 years in prison. Ridiculous,” explain US President Donald Trump.
The FBI busted the market in 2013, seizing 69,370 Bitcoins, currently worth more than $6 billion. Last month, the Biden administration Authorize the sale of these Bitcoins Before leaving office.
Trump has previously announced his intention to commute Ulbricht’s verdict While speaking at the Liberal Party’s national convention in May.
The Liberals have long advocated for his release. They criticized the case as government overreach and used it as an example of a broader push for drug policy reform.
“Ulbricht was sentenced to two life sentences plus 40 years, a sentence worse than even the worst drug dealer on the site,” Wrote Colin Ruger.
Forecasting platform Polymarket estimates a 93% chance Trump will pardon Ulbricht within the first 100 days. This prediction came true in just two days.
There has been speculation that Trump could use confiscated Bitcoin to build one National Bitcoin Reserve. However, those assets have already been liquidated under the Biden administration.
Punishment too harsh?
Time goes back to 2022, BeInCrypto sits down with Rose’s motherLyn Ulbricht spoke honestly about her son’s situation.
Lynn mentioned that she would not condone her son’s actions and believed Ross Ulbricht should be punished. However, like most in the community, she is concerned about the severity and length of the sentence.
“He wants to solve problems and help make the world a better place, and that’s a big reason why he loves Bitcoin because it brings prosperity to people who don’t have access to bank accounts. That’s his idealism,” Lynn said .
Lyn told BeInCrypto that Ross had been cut off for ten years and had learned his lesson. His true intention was never to promote illegal trade.
Instead, he wanted a marketplace where people could interact and communicate freely. However, he failed to take into account malicious actors.
Overall, today’s presidential pardon will give Ross Ulbricht some life back.
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