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Former US President Donald Trump on Monday reiterated his support for Silk Road founder Ross Ulbricht, who is now serving his 12th year in prison.
The comments have reignited debate over the boundary between cryptocurrencies and illegal activity.
What was the Silk Road Incident?
Silk Road was a dark web marketplace launched by Ulbricht in 2011 that allowed users to anonymously buy and sell illegal drugs and other illicit goods.
The transaction was conducted using Bitcoin (BTC) and featured a high level of anonymity through the use of the Tor network.
Ulbricht ran Silk Road under the pseudonym “Dread Pirate Roberts,” and it’s estimated that he conducted around $200 million worth of illicit trade between 2011 and 2013.
12th year in prison
On October 1, 2013, Ulbricht was arrested by the FBI at a public library in San Francisco, after he had left online traces, including publishing his Gmail address.
In February 2015, Ulbricht was convicted of seven charges related to his operation of Silk Road, and on May 29 of that year, he was sentenced to two life sentences plus 40 years without the possibility of parole.
The verdict took into account the profits made through the Silk Road and his alleged contribution to at least six overdose deaths.
Trump vows to ‘rescue’ Ulbricht
Ulbricht turned 40 in March of this year, and in a post made through his family on the X account he uses to communicate with the outside world, he said: “Today begins my 12th year of incarceration. I plan to make the most of my time and use it wisely.”
Sharing a screenshot of the post, Trump declared on his social media platform, Truth Social, “I SAVE ROSS ULBRICHT!”
Trump promises to commute sentences on first day in office
This is not the first time Trump has voiced his support for Ulbricht: earlier this year at the Libertarian National Convention, Trump promised to commute Ulbricht’s sentence on his first day in office if elected .
Ulbricht expressed his gratitude for the pledge on X, saying, “After 11 years incarcerated, it’s hard to put into words how I feel right now. Thanks to your unwavering support, there may be a chance for a new beginning.”
Last night, Donald Trump pledged to commute my sentence on day 1, if reelected. Thank you. Thank you. Thank you.
After 11 years in prison, it is hard to express how I feel at this moment. It is thanks to your undying support that I may get a second chance.
— Ross Ulbricht (@RealRossU) May 26, 2024
Disproportionate sentencing called into question: advocates say
Many believe Ulbricht’s sentence was disproportionate to the crimes he committed and that he deserves a pardon, especially as it was a first-time offender, and some argue that his punishment was unjust.
Billionaire venture capitalist Tim Draper has been one of many long-time advocates for Ulbricht’s release, and his mother and supporters are also continuing to campaign for his release.
Trump’s reversal of his stance on cryptocurrencies ahead of the upcoming presidential election represents a ray of hope for Ulbricht and his supporters.
Along with the outcome of the next presidential election, attention is likely to be focused on Ulbricht’s future and legal responses to crimes involving virtual currencies.
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