Donald Trump’s Pardon Liberates Silk Road Founder Ross Ulbricht

Trump announced the decision through a post on Truth Social, calling the sentence handed to Ulbricht “ridiculous” and extending a “full and unconditional pardon”.

Libertarian leaders expressed gratitude for Trump’s decision, saying, "Thank you for honoring your pledge to Ross, to our members, and to libertarians everywhere, Donald Trump".

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The Silk Road marketplace, hosted on the dark web, facilitated the exchange of goods, both legal and illegal, through Bitcoin BTC $96,620.04 transactions. Prosecutors estimated it served over 100,000 users and generated millions in commissions.

Ulbricht, known online as “Dread Pirate Roberts”, ran the site from 2011 to 2013. Arrested in 2013, he was convicted on charges including drug trafficking and money laundering.

His sentence of two life terms plus 40 years without parole drew criticism from supporters, who argued it was unreasonable.

During Trump's campaign, he promised to revisit Ulbricht’s case, particularly to gain support from libertarians and the crypto community.

However, the pardon did not happen immediately upon Trump’s inauguration on January 20. Trump first issued pardons to over 1,500 people tied to the January 6, 2021, Capitol riot before addressing Ulbricht’s case.

In fact, on his first day in office, Trump did not address anything related to crypto—a topic many expected him to prioritize. How did the crypto community respond? Read the full story.