The weekend has seen Donald Trump embrace crypto to new lengths. Trump says America must be the leader in the (Crypto) field. Also, Trump pledged to commute Silk Road founder Ross Ulbricht’s life sentence to time served if he’s re-elected president.
Also Read: U.S. House Approves FIT21 Crypto Bill
Donald Trump doubled down on his recent crypto stance today, posting on social media, “I am very positive and open minded to cryptocurrency companies and all things related to this new and burgeoning industry.”
Trump Doubles Down on Crypto
As presidential elections near, both sides appear intentional about winning over pro-crypto voters. “Our country must be the leader in the field; there is no second place,” Trump posted on Truth Social. The support came ahead of his address at the Libertarian National Convention in Washington, D.C., later today.
Trump then took a shot at the Biden administration, adding: “Crooked Joe Biden, on the other hand, the worst president in the history of our country, wants it to die a slow and painful death.”
Additionally, the former president made pro-crypto comments earlier this month at a Mar-a-Lago dinner. Last week, Trump’s presidential campaign began accepting crypto donations. Donald is the first Republican nominee to embrace Bitcoin, Ether, and other digital currencies.
Biden Administration Softens Its Stance Toward Crypto
Following Trump’s pro-crypto actions, the Biden administration has also softened its opposition to crypto. Last Wednesday, the White House sent out a statement expressing its opposition to the House of Representatives passing a crypto market structure bill. However, Biden didn’t threaten to veto FIT21.
The House approved the bill, which now heads to the Senate. On Thursday, the SEC added sentiment to Biden’s new crypto touch by approving Ethereum ETFs. The crypto community saw such an approval as extremely impossible just a month ago.
Trump Pledges to Free Silk Road Creator Ross Ulbricht
In other news, Trump has pledged to commute Silk Road founder Ross Ulbricht’s life sentence to time served if he’s re-elected president. During his Saturday night remarks at the Libertarian National Convention in Washington, D.C., he said:
If you vote for me, on Day 1, I will commute the sentence of Ross Ulbricht to a sentence of time served […] already served 11 years, we’re gonna get him home.
Donald Trump.
Donald’s pledge to free Ulbricht was met with sheer hope and shouts from the assembled audience. Many of these enthusiasts held up signs reading “Free Ross.”
In response, Ross Ulbricht expressed his appreciation for Donald Trump’s promise to free him. “Last night, Donald Trump pledged to commute my sentence on day 1, if reelected. Thank you. Thank you. Thank you,” Ulbricht wrote in a May 26 X post.
Last night, Donald Trump pledged to commute my sentence on day 1, if reelected. Thank you. Thank you. Thank you.
— Ross Ulbricht (@RealRossU) May 26, 2024
After 11 years in prison, it is hard to express how I feel at this moment. It is thanks to your undying support that I may get a second chance.
Ulbricht was sentenced to two consecutive life sentences plus 40 years in 2015. He is in prison without the possibility of parole for creating and operating Silk Road. The darknet marketplace was used to buy and sell goods (mostly drugs) anonymously.
Silk Road is considered the first real-world use case for Bitcoin. The now-defunct marketplace operated from 2011 to 2013. Ulbricht has become somewhat of a martyr for many in the crypto community.
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Before his presidency ended in January 2021, Trump granted clemency to 143 people and pardoned 73. These included Ripple board member Ken Kurson. In addition, he commuted the sentences of 70 others.
However, he did not offer clemency to Wikileaks founder Julian Assange, Ulbricht, or Edward Snowden. Edward released details about a U.S. surveillance program to American journalist Glenn Greenwald.
Cryptopolitan Reporting by Florence Muchai
