Ross Ulbricht, the creator of the infamous Silk Road marketplace, who is serving a life sentence in federal prison, recently shared his first public message since the 2024 U.S. election.
In a post on November 12, Ulbricht expressed hope that President-elect Donald Trump would follow through on a campaign promise to commute his sentence, a promise that many advocates had rallied behind during Trump’s previous presidency.
Ulbricht, convicted in 2015 for crimes including money laundering and conspiracy to traffic drugs, has been imprisoned without the possibility of parole. The Silk Road marketplace, which he launched in 2011, was shut down by the FBI in 2013 due to its role in facilitating illegal transactions.
Despite numerous petitions from supporters, Ulbricht’s sentence was not commuted during Trump’s first term. However, during the 2020 election campaign, Trump pledged that he would ensure Ulbricht’s release if given another term.
While Ulbricht’s supporters remain hopeful, some in the crypto community remain doubtful, pointing to Trump’s track record of unfulfilled promises. Trump’s previous pledges, including changes to cryptocurrency regulation and personnel, have raised questions about his commitment to freeing Ulbricht. Nonetheless, his recent statements on social media have reignited hopes among advocates who have been calling for his release for years.
The first week of July brings several important developments in the United States that could influence both traditional markets and the cryptocurrency sector.
Ric Edelman, one of the most influential voices in personal finance, has radically revised his stance on crypto allocation. After years of cautious optimism, he now believes that digital assets deserve a far larger share in investment portfolios than ever before.
In the case involving Terraform Labs and its co-founder Do Hyeong Kwon, the defense has asked the Federal Court for the Southern District of New York to extend the deadline for pretrial filings by two weeks, pushing it beyond the original date of July 1, 2025.
Coinbase has emerged as the best-performing stock in the S&P 500 for June, climbing 43% amid a surge of bullish momentum driven by regulatory clarity, product innovation, and deeper institutional interest in crypto.