Elon Musk Predicts Presidential Pardon for Silk Road Founder Ross Ulbricht

Elon Musk Predicts Presidential Pardon for Silk Road Founder Ross Ulbricht

Elon Musk has suggested that Ross Ulbricht, the creator of the Silk Road marketplace, will soon receive a presidential pardon from Donald Trump. Responding to a user’s comment on X urging Trump to pardon Ulbricht, the Tesla CEO stated, “Ross will be freed too.”

Angela McArdle, chair of the Libertarian National Committee (LNC), has also indicated that Ulbricht could be pardoned as early as tonight or tomorrow.

Ulbricht, who was sentenced in 2015 to life imprisonment for his role in running the Silk Road, was not convicted of causing direct harm but was found guilty of enabling illegal activities on the platform. Since his incarceration, Ulbricht has expressed remorse for his actions and focused on self-improvement through education and advocacy for his release.

In May 2024, Trump pledged to commute Ulbricht’s sentence on his first day in office, a promise he reiterated during the Libertarian National Convention. Now that he has assumed office, many supporters believe he will fulfill that commitment.

On Polymarket, users estimate a 94% likelihood that Trump will pardon Ulbricht within his first 100 days in office, reflecting optimism among Ulbricht’s advocates and the crypto community.

Trump’s Crypto Stance Absent from Inauguration Speech

Donald Trump was sworn in as the 47th president of the United States without addressing cryptocurrency during his inauguration speech. Many had anticipated that Trump would discuss Bitcoin or lay out plans for positioning the U.S. as a global leader in the crypto space.

After the ceremony, Trump signed a series of executive orders but did not address crypto policies or regulatory changes.

Despite this, the outlook for cryptocurrency under the Trump administration remains positive. Several pro-crypto figures have been appointed to key government positions. Trump has chosen Paul Atkins to lead the SEC and Caroline Pham to head the CFTC, both of whom are considered advocates for the crypto industry. Additionally, Trump has created a new role, “AI and Crypto Czar,” appointing David Sacks to oversee policy on artificial intelligence and digital assets.

These appointments, coupled with ongoing legislative efforts, suggest significant regulatory reforms could be on the horizon. According to a Reuters report, Circle CEO Jeremy Allaire expressed optimism that Trump will soon issue executive orders easing restrictions on banks holding and trading cryptocurrency assets, potentially ending “Operation Choke Point 2.0.”

Who is Ross Ulbricht?

Ross Ulbricht, a former Eagle Scout and materials science graduate, founded the Silk Road marketplace in 2011 at the age of 26. The platform served as a groundbreaking darknet marketplace, allowing anonymous transactions using Bitcoin.

In October 2013, Ulbricht was arrested at a public library in San Francisco, where FBI agents seized his laptop while it was logged into the site’s administration panel.

The Silk Road facilitated $1.2 billion in Bitcoin transactions before its shutdown, pioneering new methods of anonymous online commerce. In 2015, Ulbricht was convicted on charges including money laundering, computer hacking, and narcotics trafficking, and was sentenced to two life terms plus 40 years without parole.

Ulbricht’s case has sparked debate over sentencing reform and the role of Bitcoin in enabling decentralized commerce, making him a controversial figure in both legal and crypto circles.