Trump Vows to Pardon Silk Road Creator Ross Ulbricht if Re-Elected

Former President Donald Trump has pledged to grant a presidential pardon to Ross Ulbricht, the founder of the Silk Road darknet marketplace, if he wins the upcoming November election. Trump made this announcement on May 25 during the Libertarian Party’s National Convention in Washington.

“If you vote for me, on day one I will commute the sentence of Ross Ulbricht,” Trump declared in his speech, emphasizing his intention to bring Ulbricht, who has been incarcerated for 11 years, back home.

Ulbricht’s Sentence and the Silk Road Case

Ross Ulbricht created Silk Road in 2011, a pioneering darknet market utilizing Bitcoin for transactions. Operating under the alias “Dread Pirate Roberts,” Ulbricht’s platform facilitated the sale of illegal goods and services. His arrest occurred on October 1, 2013, when the FBI seized his laptop.

In 2015, Ulbricht was convicted on multiple charges in a U.S. federal court, leading to a sentence of two life terms plus forty years without the possibility of parole.

Trump’s Evolving Stance on Cryptocurrency

Trump’s promise to pardon Ulbricht accompanies a broader shift in his stance on cryptocurrency. Previously skeptical, Trump now expresses strong support for the development of cryptocurrency and Bitcoin within the United States, rather than allowing these innovations to move overseas. He also advocates for the right to self-custody of crypto assets, distancing from centralized exchanges.

Additionally, Trump directly addressed Senator Elizabeth Warren, assuring cryptocurrency holders that he would prevent her and her associates from interfering with their Bitcoin holdings.

Reactions and Implications

Trump’s announcement has stirred discussions within the crypto and legal communities. Proponents argue that a pardon would offer Ulbricht a deserved second chance after serving a substantial portion of his sentence. Critics, however, worry about the message it sends regarding the consequences of operating illegal marketplaces.

Crypto’s Growing Political Influence

Cryptocurrencies are increasingly influential in politics. A political action committee (PAC) named Fairshake, backed by major cryptocurrency figures, aims to impact key Senate races, potentially shifting Congressional power dynamics. Recently, Fairshake spent over $10 million to successfully oppose a Democratic U.S. Senate candidate in California.

According to reports, 73% of U.S. voters believe presidential candidates should have informed perspectives on technologies like artificial intelligence (AI) and cryptocurrency. A Coinbase report also indicated that California voters who own cryptocurrencies are expected to significantly influence the 2024 elections.