Highlights:
- Trump pledges to free Silk Road founder Ulbricht, reigniting debate over the case.
- His support for Ulbricht aims to rally libertarian and crypto backers.
- Trump’s World Liberty Financial launch signals deeper crypto ambitions.
Donald Trump has once again defended the founder of the Silk Road marketplace. Trump posted a screenshot of Ross Ulbricht’s X tweet on Truth Social and said that he would save him from prison. Trump’s post has ignited a public debate on the Silk Road case and his intentions with the crypto industry if elected.
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Ulbricht is currently serving his 12th year in prison. He was handed a double life sentence plus 40 years for his role in Silk Road. The site allowed the anonymous trading of illegal products using Bitcoin.
This is not the first time Trump has shown support for Ulbricht. In May 2024, at the Libertarian National Convention, Trump promised to commute Ulbricht’s sentence on day one if re-elected. After Trump’s May pledge, Ulbricht posted on X expressing gratitude and stating how difficult it was for him after 11 years in prison.
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.
— Ross Ulbricht (@RealRossU) May 26, 2024
Debate Surrounding Trump’s Support for Ulbricht
Trump’s pledge to free the Silk Road founder has elicited discussion in the crypto community. Supporters of the Silk Road creator believe that the sentence is too severe. They have appreciated Trump for taking a stand in the matter. His critics, however, argue that Trump’s actions may be politically driven. They believe his goal is to appeal to libertarians and cryptocurrency supporters before the election.
The involvement of Bitcoin in its early stages has made the Silk Road case a topic of discussion. While some view Ulbricht as a lawbreaker, others perceive him as a representation of the fight for digital privacy and decentralization.
Trump’s Venture into Cryptocurrency with World Liberty Financial
Trump recently launched World Liberty Financial, a decentralized financial platform. On Monday, Trump highlighted the importance of the project to his mission, stating, “I promised to make America great again, this time with crypto.”
Trump has encouraged potential investors to join the project’s whitelist. According to World Liberty Financial’s website, Trump is entitled to significant compensation for participating in the project. Since its opening, the project has attracted thousands of people who have signed up for the whitelist.
Our whitelist is already a massive success! Thousands of people have joined, and we’re just getting started. Don’t miss your chance to be part of something revolutionary. https://t.co/SG2ui5XCyB pic.twitter.com/ZdLsqZ8eyH
— WLFI (@worldlibertyfi) October 1, 2024
Scrutiny on Trump’s Crypto Ambitions
The support by Trump on the platform has prompted mixed reactions. Trump’s critics are concerned about potential conflict of interest and the level of transparency surrounding the project. Despite the critics, Trump’s support for cryptocurrencies appears to be consistent.
World Liberty Financial has positioned itself as a platform that empowers individuals through decentralized finance. Trump has been a vocal supporter of the crypto sector. He promised to fire the current chairman of the SEC.
Trump’s latest moves in the crypto industry have garnered the support of the crypto community through crypto donations and endorsements. As the elections nears, his support for Ulbricht may sway more crypto votes to his side.
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