During his address at the Libertarian Party’s National Convention in Washington, former US President Donald Trump made a bold and contentious pledge regarding Ross Ulbricht, the mastermind behind the infamous Silk Road marketplace. Trump asserted that if he were to secure re-election in the upcoming November's election, he would wield his presidential powers to grant Ulbricht a pardon, thereby commuting his extensive sentence. Trump's commitment to this cause was unequivocal, as he proclaimed that on his first day back in office, he would expedite Ulbricht's release, citing the prolonged duration of Ulbricht's incarceration, which has spanned over a decade.

The backdrop to Trump's promise lies in Ulbricht's notoriety as the architect of Silk Road, a groundbreaking darknet platform that revolutionized the online black market scene by facilitating anonymous transactions primarily using Bitcoin. Under the pseudonym "Dread Pirate Roberts," Ulbricht orchestrated the operations of Silk Road until its demise in 2013 when the FBI seized his personal laptop, leading to his subsequent arrest and conviction in 2015. The severity of Ulbricht's punishment was reflected in the sentencing, which consisted of two life terms plus an additional forty years, with no possibility of parole.

Beyond his pledge regarding Ulbricht, Trump also took the opportunity to address his shifting stance on cryptocurrency, marking a significant departure from his previous skepticism during his tenure as president. Trump now embraces a more favorable outlook on digital assets, particularly Bitcoin, and seeks to position the United States as a stronghold for their development and innovation. He outlined his vision for ensuring that the future trajectory of cryptocurrency remains rooted in the USA, championing the rights of crypto holders to self-custody their assets without interference. Trump also made a pointed reference to potential adversaries in the political arena, such as Elizabeth Warren, vowing to shield crypto enthusiasts from their regulatory overreach. This newfound endorsement of cryptocurrency reflects Trump's recognition of its growing influence and his strategic alignment with its proponents, signaling a shift in his approach to this burgeoning sector of the economy.