Donald Trump has shocked the crypto world by pardoning Ross Ulbricht, the founder of Silk Road, after over a decade of imprisonment. This decision may reignite debates on cryptocurrency regulation and personal freedom.
Trump fulfilled a campaign promise by freeing Ulbricht, whose case marked a pivotal moment in the legal and crypto sectors. Silk Road operated from 2011 to 2013 with over 100,000 users transacting illegal goods worth $214 million USD.
Trump communicated with Ulbricht's mother, stating it was an honor to pardon her son, emphasizing his support from the Libertarian movement.
The FBI closed Silk Road in 2013, seizing 69,370 Bitcoins now valued at over $6 billion.
Ulbricht's sentence was criticized as harsher than those imposed on the most severe drug dealers on the platform.
Lyn Ulbricht, in support of her son, acknowledged his mistakes but questioned the severity of his sentence. Ulbricht has been portrayed as idealistic, wanting to solve problems and utilize Bitcoin for unbanked people.
Speculations arose about Trump creating a national Bitcoin reserve, but these assets had already been liquidated by the Biden Administration.
