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Trump pardons founder of Silk Road drug site

 

Trump pardons founder of Silk Road drug site

a group of protesters with "Free Ross" signs

Chip Somodevilla/Getty Images

We’re not talking about the ancient Eurasian trade route. Yesterday, President Trump pardoned Ross Ulbricht, the founder of dark web platform Silk Road, ending his life sentence and satisfying calls from libertarians and Bitcoin backers who wanted him freed.

Who’s Ross Ulbricht? He created Silk Road, an online marketplace best described as Amazon for illegal drugs and operations, which he ran from 2011 to 2013. On the website, users could buy illicit drugs and computer hacking software and hire hit men—and could only pay with cryptocurrency. Ulbricht, who went by the Princess Bride-inspired nickname “Dread Pirate Roberts” online, was arrested in 2013 and convicted two years later for the distribution of narcotics and conspiracy to commit money laundering.

How extensive was the Silk Road? It spanned over 4,000 miles The site generated over $200 million in revenue over the two-ish years it was in operation. According to the prosecution during Ulbricht’s trial:

  • It spawned a network of nearly 4,000 drug dealers and 100,000 buyers across the world.
  • At least six people died from an overdose of drugs bought on Silk Road.
  • Ulbricht earned $18 million from commissions on drug sales.

The Trump of it all

“Free Ross” was a slogan in support of Ulbricht heard at conventions for the Libertarian Party and the cryptocurrency industry, two groups that campaigned for Trump during the presidential election. In a speech at the Libertarian Party National Convention last May, Trump said, “If you vote for me, on day one, I will commute the sentence of Ross Ulbricht.” The party opposes criminal drug policies and viewed Ulbricht’s arrest as a government overstep.

As for crypto…it gets a morale boost from what some proponents consider its No. 1 guy going free. Silk Road was one of the first major places that used bitcoin, leading to Ulbricht becoming a sort of martyr for the cause. The editor of Bitcoin Magazine told the NYT that it’s hard to argue Ulbricht isn’t “the most successful and influential entrepreneur of the early Bitcoin era.”—CC

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