On May 25, 2024, Trump promised to free the Silk Road founder on his first day in office.
Elon Musk announced on X that Ross Ulbricht, founder of the Silk Road darknet market, will receive a presidential pardon from Donald Trump. The Tesla CEO stated, “Ross will be freed too,” in response to a user urging Trump to grant Ulbricht clemency.
Angela McArdle, Chair of the Libertarian National Committee (LNC), has indicated that Ulbricht’s pardon is expected in the near term.
Ulbricht’s case dates back to 2015, when he was sentenced to life in prison for his role in running Silk Road. While not convicted of direct harm, he was found guilty of facilitating illegal activities through the platform. During his imprisonment, Ulbricht has expressed remorse for his actions, pursued educational opportunities, and advocated for his release.
On May 25, at the Libertarian National Convention held in Washington, D.C., Trump pledged to commute Ulbricht’s sentence on his first day in office, which, however, did not happen.
Meanwhile, the Trump administration has made several key financial appointments, selecting pro-cryptocurrency figures to lead the two main regulatory agencies. Mark Uyeda has been appointed to head the SEC until June 5, 2026, while Caroline Pham has been designated as the chair of the CFTC.
