President Trump Grants Full Pardon to Ross Ulbricht, Silk Road Founder
In a significant move for the crypto community, President Trump has granted a full pardon to Ross Ulbricht, the founder of the infamous Silk Road darknet marketplace. Ulbricht had been serving a life sentence without parole since 2015, after being convicted of operating a criminal enterprise and facilitating the illegal trade of narcotics and other illicit goods through Silk Road.
Trump made the announcement via Truth Social, writing, “I just called the mother of Ross William Ulbricht to let her know that in honor of her and the Libertarian Movement, which supported me so strongly, it was my pleasure to have just signed a full and unconditional pardon of her son, Ross.”
Ulbricht’s case has become a cause célèbre within the crypto world, with many supporters pointing out that he never personally engaged in illegal transactions but instead created a platform that allowed others to conduct them. His supporters have long argued that Ulbricht’s sentence was excessively harsh, especially considering his role as a platform operator rather than a direct participant in the crimes.
Trump had previously pledged to address Ulbricht’s case during his campaign, committing to a “Day One” commutation. At the time, he spoke at the Libertarian Party convention, promising to take action if he won the presidency.
Following the news of the pardon, the price of Bitcoin (BTC) saw a notable rise, likely in anticipation of other crypto-friendly policies from the president. Many in the crypto space are hoping that the pardon signals a broader shift toward a more favorable regulatory environment, including the potential for a strategic Bitcoin reserve — another campaign promise from Trump.
