#Trump Pardons Silk Road Founder#
Hot Topic Overview
Overview
President Trump has signed an order granting clemency to Ross William Ulbricht, the founder of the dark web marketplace Silk Road, a move that has raised eyebrows in the cryptocurrency community. Ulbricht was convicted of running Silk Road, and sentenced to life in prison without parole for charges including continuing criminal enterprise and conspiracy to distribute narcotics. Trump, during his campaign, promised to commute Ulbricht’s sentence, seeing it as part of a libertarian movement. The pardon triggered a rise in bitcoin prices, also suggesting Trump might fulfill his promise on cryptocurrency regulation. Trump's eldest son, Donald Trump Jr., also voiced his support for the clemency, saying it was a “reflection of keeping promises.”
Ace Hot Topic Analysis
Analysis
President Trump pardoned Ross William Ulbricht, the founder of Silk Road, fulfilling a campaign promise to supporters of the libertarian movement. Ulbricht was sentenced to life in prison without parole for running the Silk Road darknet marketplace on charges of continuing criminal enterprise and distributing narcotics. Many believe that Ulbricht himself did not sell drugs but operated a platform that allowed others to do so. Trump pledged to "day one" commute Ulbricht's sentence at last year’s Libertarian National Convention in May. News of the pardon sent Bitcoin prices surging, likely due to the pardon and a flurry of executive orders by Trump in recent hours suggesting that the President intends to follow through on campaign promises. Donald Trump Jr., the President's eldest son, also commented on the event, saying "promises made... more promises kept! Ross is free!"
Public Sentiment · Discussion Word Cloud
Public Sentiment
Discussion Word Cloud
Classic Views
Trump's pardon of Silk Road founder Ross William Ulbricht was a fulfillment of his campaign promises and demonstrates his support for the libertarian movement.
The Ulbricht case has drawn attention from the cryptocurrency community, who believe Ulbricht merely operated a platform and was not directly involved in drug trafficking.
Trump's pardon of Ulbricht could indicate a more favorable attitude towards cryptocurrency regulation and even possibly the establishment of a strategic Bitcoin reserve.
News of Trump's pardon of Ulbricht sparked a surge in Bitcoin prices.