A recent Bloomberg report revealed that former President Donald Trump has made several new promises to the crypto community should he win the upcoming US presidential election. Among these promises is a controversial pledge to commute the sentence of Ross Ulbricht, the founder of the infamous Silk Road marketplace.
Trump’s strategy to win crypto votes
Ross Ulbricht was founded in 2011 Silk Roadan online exchange that allows the anonymous buying and selling of illegal goods and services using Bitcoin (BTC). According to the US Department of Justice, Silk Road was linked to more than $200 million in illegal transactions during its two years of operation.
In 2013, Ulbricht was arrested and subsequently convicted on multiple charges, including drug trafficking. conspiracy computer hacking and money laundering. He is currently serving a double life sentence without the possibility of parole, having already spent 12 years in federal prison.
Prosecutors alleged that Ulbricht attempted to orchestrate five murders to protect his business, although there is no evidence to suggest any murders were committed. His incarceration is in a federal facility in Tucson, Arizona, where he has twice unsuccessfully appealed his sentence.
For Trump, advocating for Ulbricht’s release offers an opportunity to connect with the crypto industry, which has rallied around Ulbricht as a symbol of Bitcoin’s original principles.
Many in the cryptocurrency community, including some of Bitcoin’s early developers, have long been in favor of it Ulbricht’s caseHe sees his case as symbolic of Bitcoin’s potential to serve as a “censorship-resistant transaction system.”
Reflections from prison amid Trump’s promises
According to Bloomberg, Trump’s statement promising to commute Ulbricht’s sentence reflects a broader strategy to appeal to crypto proponents and true believers in the movement. During a speech at the Libertarian Party convention in May, Trump declared: “If you vote for me on day one, I will commute Ross Ulbricht’s sentence. He has already served eleven years. We’ll take him home.”
Despite his imprisonment, Ulbricht has maintained communication with the outside world through letters and blog posts. He remains an advocate of it Bitcoincrediting the cryptocurrency community for its support of his cause.
Ulbricht believes his initial intentions for Silk Road are rooted in providing privacy and freedom through Bitcoin, even while acknowledging its illegal activities on the platform. In a blog post published in April, Ulbricht noted:
There is a lot more said about Bitcoin today than when I was in prison. I thought I was using Bitcoin well and giving people privacy and freedom. When illegal drugs were on the list, I was okay with that too, because I thought drugs should be legalized.
In addition to Ulbricht’s promise, Trump has done other remarkable things promises to the community, including the creation of a strategic Bitcoin reserve for the US and a commitment to it firework Gary Gensler, current chairman of the Securities and Exchange Commission (SEC).
Interestingly, the former president is currently the “clear favorite” in the upcoming presidential elections, which are less than two months away. according to according to CNN’s latest national polling update, with just over a 68% chance of a win for Donald Trump over Vice President Kamala Harris.
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