After serving 11 years for his role in the darknet marketplace Silk Road, Ross Ulbricht, the founder may soon be home.
“If you vote for me, on day one I will commute the sentence of Ross Ulbricht to a sentence of time served,” Former US President Donald Trump said in a speech before the Libertarian National Convention on Saturday night.
The former President now running for President and will serve his second term if he wins made this pledge while addressing the Libertarian voters many of whom have advocated for the release of Ulbricht.
The Silk Road was a dark web marketplace that facilitated the exchange of illegal goods and services including drugs, primarily using the Bitcoin cryptocurrency.
Founded in 2011, the platform was operated by Ross Ulbricht operating under the pseudonym “Dread Pirate Roberts.” The website’s anonymity and the use of cryptocurrency made it a hub for illegal operations leading to the marketplace’s eventual shutdown by law enforcement in 2013 and Ulbricht’s arrest.
Silk Road played a pivotal role in demonstrating the potential use of cryptocurrencies –– Bitcoin. Despite this however, some believe the growth and successes of Silk Road using cryptocurrencies present a case for the potential of cryptocurrencies to be used for illicit operations such as money laundering, terror financing, illegal drug exchange, etc.
Trump has also pledged to protect the cryptocurrency industry.
“We’re going to stop it. 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 of self-custody. To the nation’s 50 million crypto holders, I say this: with your vote, I will keep Elizabeth Warren and her goons away from your bitcoin. And I will never allow the creation of a central bank digital currency.”
Trump also took to TruthSocial and posted saying he wants to rescue the industry from current U.S. President Biden.
“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. Crooked Joe Biden, on the other hand, the worst president in the history of our country, wants it to die a slow and painful death. That will never happen with me!”
Ross Ulbricht has been in prison since 2013 and some believe his case represents an example of the government’s overreach and there is a need for reform in the Justice system.
In December 2023, the U.S. Court of Appeals concluded the seizure of approximately 69,370 BTC and other cryptocurrencies linked to the dark web marketplace.
The mandate came after three years since the cryptocurrencies were seized. The U.S. government assumed control over the cryptocurrencies through the U.S. Attorney’s Office of the Northern District of California in late 2020.
