Trump Reiterates Commitment to "Save" Silk Road Founder Ross Ulbricht, Sparking Crypto Controversy Ahead of 2024 Election

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On October 3, 2024, former President Donald Trump reiterated his commitment to “save” Ross Ulbricht, the founder of the infamous Silk Road marketplace. This has sparked renewed discussions about cryptocurrency, justice, and government intervention. Trump made this statement on Truth Social, declaring, “I WILL SAVE ROSS ULBRICHT!” This has stirred both controversy and hope among crypto supporters.

Ulbricht’s case is closely tied to the rise of Silk Road, which played a significant role in bringing Bitcoin into the spotlight. Launched in 2011, Silk Road was a pioneering darknet marketplace that used Bitcoin for anonymous transactions, mostly involving illegal goods and services. While it showcased Bitcoin’s potential for decentralized payments, it also stained its reputation by linking it to criminal activities. Ulbricht, known as “Dread Pirate Roberts,” was arrested in 2013 and sentenced to two life terms plus 40 years in 2015 after the FBI seized his laptop.

Trump's support for Ulbricht is not new. Back in May 2024, he promised to commute Ulbricht’s life sentence if he returned to office. This promise received enthusiastic applause at the Libertarian National Convention, where many attendees held “Free Ross” signs. In response, Ulbricht tweeted, “Thank you. Thank you. Thank you… After 11 years in prison, it is hard to express how I feel at this moment.” Many libertarians and crypto advocates have criticized the severity of Ulbricht’s sentence, arguing it serves as a warning against the ideals of decentralized finance.

The crypto community is divided on Trump’s stance. Some see his vow to pardon Ulbricht as a genuine push for justice and a stand against government overreach. Others view it as a calculated strategy to win over libertarian and crypto supporters ahead of the 2024 presidential campaign.

Trump’s recent remarks align with his evolving pro-crypto rhetoric. At the same Libertarian event, he promised to “keep Elizabeth Warren and her goons away from your Bitcoin.” This marks a significant shift from his previous criticisms of cryptocurrencies as risky and fraudulent.

The ongoing discussions surrounding Ulbricht, cryptocurrency, and legal implications will undoubtedly be a hot topic at Benzinga’s Future of Digital Assets event on November 19. Experts will explore the dynamic intersection of digital finance, policy, and innovation.

Stay tuned for updates and insights that matter to you!