President Donald Trump Decides to Grant Clemency to Ross Ulbricht

President Donald Trump has announced an unconditional pardon for Ross Ulbricht, the founder of the infamous Silk Road darknet marketplace, through his Truth Social account on the morning of January 22, 2025.

I just had a phone call with the mother of Ross William Ulbricht to inform her that, in gratitude for her support and the Free Ross movement—which has been incredibly supportive of me—I am honored to sign a full and unconditional pardon for her son, Ross. The same people who convicted him weaponized the government against me as well. He was sentenced to two life terms plus 40 years in prison. It’s outrageous!

Trump wrote.

The Ulbricht family expressed their joy on social media platform X:

Words cannot describe our gratitude at this moment. President Trump has kept his promise and saved Ross’s life. Ross is now a free man once again.

Ross Ulbricht is a controversial figure who operated Silk Road, a darknet website that facilitated the trade of illicit goods using Bitcoin from 2011 to 2013. It is estimated that the platform saw transactions totaling 9.5 billion BTC. In October 2013, the FBI shut down Silk Road and arrested Ulbricht on charges including running a criminal enterprise, drug trafficking, money laundering, and identity fraud.

President Trump’s decision has been enthusiastically welcomed by the cryptocurrency community, as it signals his potential commitment to fulfilling other major crypto-related campaign promises, such as:

Establishing a strategic Bitcoin reserve for the United States
Creating a regulatory framework for digital assets
Setting up a crypto advisory council
Ending Operation Choke Point 2.0
Revoking SAB 121 regulations
Transforming the U.S. into a global cryptocurrency hub

This unexpected move is seen as an indication that the new administration may adopt a more open and supportive approach toward the cryptocurrency industry in the United States.