U.S. President Donald Trump granted a full and unconditional pardon to Ross Ulbricht, the founder of the infamous darknet marketplace Silk Road, who had been serving multiple life sentences for operating the platform that facilitated over $200 million in illicit trade using Bitcoin (BTC).
Trump Pardons Silk Road Founder Ross Ulbricht After Decade-Long Imprisonment
The 40-year-old Ulbricht, who had been imprisoned in Arizona, was arrested in 2013 and sentenced in 2015 for running what prosecutors described as a global black market bazaar used by more than 100,000 people to trade illegal drugs and other illicit services.
Trump announced the decision on his Truth Social platform, criticizing those involved in Ulbricht's conviction and highlighting support from the Libertarian movement. The pardon fulfills a campaign promise Trump made during a speech at the Libertarian National Convention.
Immense gratitude to everyone who voted for President Trump on my behalf. I trust him to honor his pledge and give me a second chance.After 11+ years in darkness, I can finally see the light of freedom at the end of the tunnel. Thank you so much, @realDonaldTrump ????
— Ross Ulbricht (@RealRossU) November 12, 2024
“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,”Trump commented.
“The scum that worked to convict him were some of the same lunatics who were involved in the modern day weaponization of government against me.”
Who Is Ross Ulbricht?
Ulbricht operated Silk Road under the alias "Dread Pirate Roberts" from 2011 to 2013, creating a platform that leveraged the Tor network for anonymous communications and bitcoin for payments. While his defense argued the site was intended as a "freewheeling, free market site," prosecutors alleged Ulbricht took extreme measures to protect the operation, including allegedly soliciting murders, though no evidence showed any were carried out.
Silk Road was so popular in 2013 that it is speculated that 80% of all Bitcoin mined up to that point (over 50% of the total supply of 21 million) had been involved with the dark market founded by Ulbricht. In 2022, the U.S. seized $3.5 billion worth of Bitcoins allegedly linked to marketplace operations.
The landmark prosecution came during the early days of cryptocurrency adoption, with Ulbricht's case highlighting the intersection of digital currencies and illicit activities. His original sentence included 40 years plus two life terms, which Trump called "ridiculous" in his pardon announcement.
"I wanted to empower people to make choices in their lives and have privacy and anonymity," Ulbricht said during his sentencing almost 10 years ago.
The verdict sparked significant controversy, and for years, a "Free Ross" campaign has been ongoing, gathering over 600,000 signatures on petitions.
"After enduring over a decade of incarceration, this decision offers Ross the opportunity to begin anew, to rebuild his life, and to contribute positively to society," Ulbricht's clemency attorney, Brandon Sample, commented.
This article was written by Damian Chmiel at www.financemagnates.com.
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