As Donald Trump embarks on his second term in office, all eyes are on the fate of Ross Ulbricht, the founder of the infamous Silk Road marketplace. The tech mogul Elon Musk, a close ally of Trump, has confirmed that Ulbricht’s release is imminent, stirring excitement among advocates for his freedom. Musk responded to a post on the X platform, stating, “Ross will be freed too.”
Ulbricht’s Pardon Expected Soon
Ross Ulbricht has been serving a lengthy sentence after his conviction for operating Silk Road, a dark web marketplace notorious for enabling illegal transactions. Last year, Trump vowed during his presidential campaign that he would commute Ulbricht’s sentence on his first day in office if re-elected. While an official pardon has yet to be issued, the timing appears near, with sources indicating the decision could be finalized within the next 24 to 48 hours.
Angela McArdle, chair of the Libertarian National Committee (LNC), confirmed that Ulbricht’s pardon was “likely to be issued late tonight or tomorrow morning.” Musk echoed this, adding to growing optimism among those advocating for Ulbricht’s release.
The Question of a Full Pardon
It remains to be seen whether Trump will go beyond commuting Ulbricht’s sentence and offer a full pardon, which would grant complete forgiveness for his crimes. Regardless, the potential release after 11 years in prison is a momentous development for Ulbricht’s supporters.
No Immediate Crypto Executive Order
Despite widespread expectations, there has been no immediate movement on Trump issuing an executive order related to cryptocurrency. Industry experts had anticipated such an order would come on Day 1 of his presidency, yet no formal announcements have been made. This has left some in the crypto community feeling disillusioned, with one anonymous critic on X lamenting the lack of progress on crypto policy and Ulbricht’s pardon.
However, some analysts, such as Miles Deutscher, remain optimistic, suggesting that significant steps could be taken in the coming days. Reports indicate that a potential executive order could be on the horizon, aiming to ease banking regulations related to digital assets.
Meme Coin Values Drop Post-Inauguration
Meanwhile, the release of meme coins associated with Trump and his family has drawn criticism, particularly within the cryptocurrency sector. The TRUMP meme coin has plunged by 40%, dropping to $32 as of the latest figures, while the MELANIA coin has fallen by 60%. These declines come just a day after their launches and have sparked concern from figures like billionaire Mark Cuban, who warned that such speculative coins could harm the credibility of the broader cryptocurrency market.
As developments unfold, all eyes remain on the White House for official word on Ulbricht’s pardon and any new directives impacting the cryptocurrency landscape.
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