Ross Ulbricht Thanks Trump for Commutation Pledge

Silk Road founder Ross Ulbricht expressed his gratitude towards former U.S. President and 2024 presidential candidate Donald Trump for promising to commute his sentence on the first day of his potential second term. This pledge was made during Trump’s speech at the Libertarian National Convention on Saturday.

Ulbricht, who has spent 11 years in prison, shared his reaction on Twitter, stating, “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.” The announcement came as one of the few moments during the event that garnered applause for Trump, as attendees had been distributing “Free Ross” signs in support of Ulbricht’s release.

In addition to his commutation promise, Trump also vowed to protect Bitcoin from regulatory threats posed by figures like Senator Elizabeth Warren, although this bullish statement on BTC did not significantly impact its price. At the time of writing, Bitcoin was trading just under $69,000, marking a slight decrease from the previous day.

Ross Ulbricht was arrested in October 2013 for founding Silk Road, an online black market, and in 2015, he was sentenced to life imprisonment for charges including drug trafficking, computer hacking, and money laundering. His sentence has been a focal point for libertarians who argue it’s a case of government overreach.

However, Trump’s promises have not universally resonated within the cryptocurrency community, which often values the principles of autonomy and ungovernability. Critics, like Jameson Lopp of Bitcoin wallet provider Casa, accused Trump of political pandering, pointing out his inaction during his previous term. “He had the opportunity to do so for 4 years and declined,” Lopp commented on Twitter. “Actions speak louder than words.”

While Trump had reportedly considered clemency for Ulbricht among a series of pardons after his 2020 election defeat, he ultimately did not grant it. This has led to skepticism about his current commitments, with Adam Cochran of Cinneamhain Ventures criticizing Trump’s inconsistent political history and arguing that the cryptocurrency industry should be wary of his overtures.

Despite the skepticism, some influential figures in the crypto world have shown support for Trump’s recent statements. Messari co-founder Ryan Selkis echoed a sentiment of optimism about Trump’s potential impact on cryptocurrency regulation, sharing messages that praised Trump’s influence on the sector and speculated on a positive shift at the SEC if Trump were to be reelected.

While Ulbricht’s acknowledgment of Trump’s pledge has ignited a mix of hope and criticism, it highlights the ongoing tension within the crypto community over political alliances and the future of regulatory frameworks.