- President Trump has fulfilled another election campaign promise.
- The U.S. President pardoned Silk Road founder Ross Ulbricht after 10 years in prison.
- Crypto community members are excited over Ulbritch’s presidential pardon.
President Donald Trump has ticked another box in his list of election campaign promises by signing a full unconditional pardon for Ross Ulbricht, who operated the Silk Road dark web marketplace that facilitated the sales of illegal drugs. The authorities convicted Ulbricht in 2015 and sentenced him to life imprisonment for his offenses.
Cardano Founder Backs Trump’s Decision
Cardano founder Charles Hoskinson called Ulbricht’s presidential pardon amazing for the crypto industry. Hoskinson appreciates the development because of Silk Road’s role in the early days of the crypto industry. According to the Cardano founder, Ulbricht made a mistake that did not warrant the kind of punishment he faced.
Related: Donald Trump Promises Total Support For Bitcoin and Crypto If Re-elected
In a recently uploaded video, Hoskinson noted that the crypto society recognized Ulbricht’s mistake and has advocated for his pardon for nearly a decade. According to reports, President Trump posted on his Truth Social platform that he had called Ulbricht’s mother, informing her of his actions toward her son.
Silk Road’s Role in Bitcoin Adoption
Silk Road, which operated from 2011 until its closure in 2013, facilitated the sale of illegal goods using Bitcoin. The marketplace was instrumental in Bitcoin’s rise but also drew scrutiny for its association with criminal activities.
Diverting attention to those he considered criminals, Trump accused those who worked to convict Ulbricht of involving themselves in the modern-day weaponization of government against him. The President considered the two life sentences plus 40 years of punishment meted to Ulbricht ridiculous.
Related: Silk Road Hacker Sentenced To Year In Prison For $3.4 Billion Bitcoin Heist
Hoskinson reflected on the sentiment within the crypto industry during Ulbricht’s arrest. At the time, the sector sought an alternative to traditional financial systems, making the Silk Road a controversial yet pivotal moment in Bitcoin’s history. The Cardano founder expressed his excitement toward PresidentTrump’s gesture and believes it is a sign of more positives for the crypto industry.
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