Trump renews promise to pardon Silk Road founder Ross Ulbricht

Former President Donald Trump has once again pledged to "save" Ross Ulbricht, the founder of the Silk Road, a darknet marketplace that popularised Bitcoin (CRYPTO:BTC) for anonymous transactions.

Trump made this declaration on Wednesday via Truth Social, rekindling debates about Ulbricht’s life sentence and the role of cryptocurrencies in justice.

Ulbricht, who is serving two life terms plus 40 years in prison, was arrested in 2013 for operating the Silk Road under the pseudonym "Dread Pirate Roberts."

The platform facilitated the exchange of illegal goods using Bitcoin, putting the cryptocurrency in the spotlight.

While Silk Road showcased Bitcoin’s potential for decentralised payments, it also tied the currency to criminal activity, tarnishing its reputation.

Trump’s renewed commitment to commuting Ulbricht’s sentence follows a similar promise made during the Libertarian National Convention in May 2024.

At that event, Trump vowed to commute Ulbricht’s life sentence on his first day in office if re-elected.

Ulbricht responded with gratitude, tweeting, “Thank you. Thank you... After 11 years in prison, it is hard to express how I feel at this moment.”

Trump’s support for Ulbricht has divided opinions.

Some view it as a genuine push for justice, aligning with libertarian values of decentralisation and free markets.

Others see it as a strategic move to gain favor with crypto enthusiasts during his 2024 presidential campaign.

Ulbricht’s case remains a polarising topic within the crypto community.

While many argue his sentence was excessive, especially given his role in advancing decentralised finance, others maintain that the punishment fits the crime.

Trump’s pro-crypto stance further emphasises his bid to win over Bitcoin advocates, a departure from his earlier criticisms of cryptocurrencies.