Trump Promises Pardon for Silk Road Founder in Exchange for Votes
Former President Donald Trump has made a bold promise to grant a presidential pardon to Ross Ulbricht, the founder of Silk Road, if he is re-elected in November’s election. Trump announced this during the Libertarian Party’s National Convention in Washington on May 25.
- Trump vows to commute Ross Ulbricht’s sentence if re-elected
- Announcement made during Libertarian Party’s National Convention
- Ulbricht has already served 11 years in prison
Ulbricht’s Lengthy Sentence
Silk Road, considered the first modern darknet market with a payment system based on Bitcoin, was founded in 2011 by Ulbricht using the alias “Dread Pirate Roberts.” However, the FBI seized Ulbricht’s personal laptop on October 1, 2013, leading to his arrest and subsequent conviction in a U.S. federal court in 2015.
- Ulbricht operated Silk Road under the username “Dread Pirate Roberts”
- FBI seizure of Ulbricht’s laptop led to his arrest
- Convicted in 2015 with two life terms plus forty years without parole
Trump’s Pro-Crypto Stance
In addition to offering a potential pardon to Ulbricht, Trump expressed support for cryptocurrencies and Bitcoin during the convention. He highlighted his commitment to the development of cryptocurrency within the United States and vowed to safeguard individuals holding their assets outside centralized exchanges, advocating for self-custody rights.
- Trump signals a shift in stance towards digital assets
- Emphasizes the importance of developing cryptocurrency within the U.S.
- Promises protection for crypto holders and self-custody rights
Debates Surrounding the Pardon
Trump’s announcement regarding the possibility of pardoning Ulbricht has sparked debates within the crypto and legal communities. While some see it as a chance for Ulbricht to start anew after serving a lengthy prison term, others raise concerns about the implications of pardoning a convict involved in operating an illegal marketplace.
- Divided opinions within crypto and legal spheres on potential pardon
- Discussions on providing a second chance versus condoning illicit activities
- Implications of presidential pardons for convicted individuals
Crypto’s Impact on Politics
Besides gaining popularity among retail users, cryptocurrencies also play a role in influencing political landscapes. A political action committee (PAC) supported by key figures in the cryptocurrency industry has engaged in Senate races, aiming to potentially shift the balance of power within Congress. The PAC, known as Fairshake, recently spent over $10 million opposing a Democratic U.S. Senate candidate in California.
- Cryptocurrencies wield influence in political campaigns
- Fairshake PAC aims to impact key Senate races through funding
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