Donald Trump, the former President of the United States, made a significant pledge during his address at the Libertarian National Convention in Washington, D.C., on May 25th.
He vowed to commute the sentence of Ross Ulbricht, the founder of the infamous Silk Road darknet marketplace, to time served if he is re-elected to the presidency.
TLDR
- Donald Trump has pledged to commute the sentence of Ross Ulbricht, the founder of the Silk Road darknet marketplace, to time served if he is re-elected as president.
- Ulbricht has served 11 years of his sentence, which consists of two life terms plus 40 years, for creating and operating the Silk Road.
- Trump expressed his support for the cryptocurrency industry, stating that he wants the United States to be a leader in the field and that he would stop President Biden’s “crusade to crush crypto.”
- Trump promised to protect the rights of crypto holders, including the right to self-custody, and to keep Elizabeth Warren and her “goons” away from Bitcoin.
- The Silk Road was the first modern darknet market with a payment system built on Bitcoin, operating from 2011 to 2013 until it was seized by the FBI.
Ulbricht, who operated under the pseudonym “Dread Pirate Roberts,” created the Silk Road in 2011, which was the first modern darknet market with a payment system built on Bitcoin.
The platform facilitated the anonymous buying and selling of goods, but it was primarily used for illegal drug transactions. In 2013, the FBI seized Ulbricht’s laptop and the Silk Road was shut down.
In 2015, Ulbricht was convicted in a U.S. federal court on various charges related to the operations of the Silk Road. He received an unprecedented sentence of two consecutive life terms plus 40 years, effectively a life sentence without the possibility of parole.
This draconian punishment has made Ulbricht a controversial figure, with many in the crypto community and libertarian circles viewing his sentence as an overreach by the government and a violation of his constitutional rights.
Last night, Donald Trump pledged to commute my sentence on day 1, if reelected. Thank you. Thank you. Thank you.
After 11 years in prison, it is hard to express how I feel at this moment. It is thanks to your undying support that I may get a second chance.
— Ross Ulbricht (@RealRossU) May 26, 2024
During his speech, Trump emphasized his support for the cryptocurrency industry, stating, “I am very positive and open-minded to cryptocurrency companies, and all things related to this new and burgeoning industry.
Our country must be the leader in the field. There is no second place.” He accused President Joe Biden of wanting the cryptocurrency industry “to die a slow and painful death,” adding, “That will never happen with me!”
Trump’s pledge to free Ulbricht was met with raucous cheers from the assembled audience, many of whom were holding signs reading “Free Ross.”
He declared, “If you vote for me, on Day 1, I will commute the sentence of Ross Ulbricht to a sentence of time served. He’s already served 11 years, we’re gonna get him home.”
Trump promised to protect the rights of cryptocurrency holders, stating,
“I will ensure that the future of crypto and the future of bitcoin will be made in the USA, not driven overseas. I will support the right to self-custody.”
He also vowed to keep Senator Elizabeth Warren and her “goons” away from Bitcoin, a clear reference to Warren’s criticisms of cryptocurrencies and calls for stricter regulation.
Trump’s newfound pro-crypto stance marks a significant shift from his earlier comments, where he had referred to Bitcoin as a scam.
His recent remarks and promises to support the cryptocurrency industry have been welcomed by many in the crypto community.
