President Trump Grants Pardon to Silk Road Creator Ross Ulbricht.

President Trump Grants Full Pardon to Silk Road Founder Ross Ulbricht

In a significant move for the crypto community, President Trump has granted a full and unconditional pardon to Ross Ulbricht, the founder of the Silk Road darknet marketplace. Ulbricht had been serving a life sentence without the possibility of parole since 2015 after being convicted of running a criminal enterprise and facilitating the distribution of illegal drugs and goods via Silk Road.

Trump shared the news on 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 garnered significant attention, particularly in the crypto space, where many have argued that he was not directly involved in illegal transactions but instead created a platform for others to trade freely. The move is seen as a win for supporters who have long campaigned for his release, citing his role as a facilitator rather than a participant in the illicit activities.

During his presidential campaign, Trump made a promise to address Ulbricht’s case, and as a candidate, he declared his intention to issue a pardon on the first day of his presidency.

Following the announcement, the price of Bitcoin (BTC) saw a brief surge, with traders speculating that this action, along with a series of recent executive orders, could signal Trump’s commitment to fulfilling his campaign pledges.

Another of Trump’s campaign promises that is expected to be pursued is a crypto-friendly regulatory environment, which could include the creation of a strategic Bitcoin reserve to further solidify the U.S. role in the cryptocurrency market.