The pardon fulfills Donald Trump's campaign promise and comes with support from the Libertarian movement.
Ulbricht served a decade of his original sentence of 40 years plus two life terms.
Ross Ulbricht, the creator of infamous darknet marketplace Silk Road
U.S.
President Donald Trump granted a full and unconditional pardon to Ross
Ulbricht, the founder of the infamous darknet marketplace Silk Road, who had
been serving multiple life sentences for operating the platform that
facilitated over $200 million in illicit trade using Bitcoin (BTC).
Trump Pardons Silk Road
Founder Ross Ulbricht After Decade-Long Imprisonment
The
40-year-old Ulbricht, who had been imprisoned in Arizona, was arrested in 2013
and sentenced in 2015 for running what prosecutors described as a global black
market bazaar used by more than 100,000 people to trade illegal drugs and other
illicit services.
Trump
announced the decision on his Truth Social platform, criticizing those involved
in Ulbricht's conviction and highlighting support from the Libertarian movement.
The pardon fulfills a campaign promise Trump made during a speech at the
Libertarian National Convention.
“I just
called the mother of Ross William Ulbricht to let her know that in honor of her
and the Libertarian Movement, which supported me so strongly, it was my
pleasure to have just signed a full and unconditional pardon of her son, Ross,”
Trump
commented.
“The scum
that worked to convict him were some of the same lunatics who were involved in
the modern day weaponization of government against me,” he added.
Who Is Ross Ulbricht?
Ulbricht
operated Silk Road under the alias “Dread Pirate Roberts” from 2011
to 2013, creating a platform that leveraged the Tor network for anonymous
communications and Bitcoin for payments. While his defense argued the site was
intended as a “freewheeling, free market site,” prosecutors alleged
Ulbricht took extreme measures to protect the operation, including allegedly
soliciting murders, though no evidence showed any were carried out.
Silk Road
was so popular in 2013 that it is speculated that 80% of all Bitcoin mined up
to that point (over 50% of the total supply of 21 million) had been involved
with the dark market founded by Ulbricht. In 2022, the U.S. seized $3.5 billion worth of Bitcoin allegedly linked to marketplace operations.
The
landmark prosecution came during the early days of cryptocurrency adoption,
with Ulbricht's case highlighting the intersection of digital currencies and
illicit activities. His original sentence included 40 years plus two life
terms, which Trump called “ridiculous” in his pardon announcement.
“I wanted to empower people to make choices in their lives and have privacy and anonymity,” Ulbricht said during his sentencing almost 10 years ago.
The verdict sparked significant controversy, and for years, a “Free Ross” campaign has been ongoing, gathering over 600,000 signatures on petitions.
Source: Freeross.org
“After enduring over a decade of incarceration, this decision offers Ross the opportunity to begin anew, to rebuild his life, and to contribute positively to society,” Ulbricht's clemency attorney, Brandon Sample, commented.
U.S.
President Donald Trump granted a full and unconditional pardon to Ross
Ulbricht, the founder of the infamous darknet marketplace Silk Road, who had
been serving multiple life sentences for operating the platform that
facilitated over $200 million in illicit trade using Bitcoin (BTC).
Trump Pardons Silk Road
Founder Ross Ulbricht After Decade-Long Imprisonment
The
40-year-old Ulbricht, who had been imprisoned in Arizona, was arrested in 2013
and sentenced in 2015 for running what prosecutors described as a global black
market bazaar used by more than 100,000 people to trade illegal drugs and other
illicit services.
Trump
announced the decision on his Truth Social platform, criticizing those involved
in Ulbricht's conviction and highlighting support from the Libertarian movement.
The pardon fulfills a campaign promise Trump made during a speech at the
Libertarian National Convention.
“I just
called the mother of Ross William Ulbricht to let her know that in honor of her
and the Libertarian Movement, which supported me so strongly, it was my
pleasure to have just signed a full and unconditional pardon of her son, Ross,”
Trump
commented.
“The scum
that worked to convict him were some of the same lunatics who were involved in
the modern day weaponization of government against me,” he added.
Who Is Ross Ulbricht?
Ulbricht
operated Silk Road under the alias “Dread Pirate Roberts” from 2011
to 2013, creating a platform that leveraged the Tor network for anonymous
communications and Bitcoin for payments. While his defense argued the site was
intended as a “freewheeling, free market site,” prosecutors alleged
Ulbricht took extreme measures to protect the operation, including allegedly
soliciting murders, though no evidence showed any were carried out.
Silk Road
was so popular in 2013 that it is speculated that 80% of all Bitcoin mined up
to that point (over 50% of the total supply of 21 million) had been involved
with the dark market founded by Ulbricht. In 2022, the U.S. seized $3.5 billion worth of Bitcoin allegedly linked to marketplace operations.
The
landmark prosecution came during the early days of cryptocurrency adoption,
with Ulbricht's case highlighting the intersection of digital currencies and
illicit activities. His original sentence included 40 years plus two life
terms, which Trump called “ridiculous” in his pardon announcement.
“I wanted to empower people to make choices in their lives and have privacy and anonymity,” Ulbricht said during his sentencing almost 10 years ago.
The verdict sparked significant controversy, and for years, a “Free Ross” campaign has been ongoing, gathering over 600,000 signatures on petitions.
Source: Freeross.org
“After enduring over a decade of incarceration, this decision offers Ross the opportunity to begin anew, to rebuild his life, and to contribute positively to society,” Ulbricht's clemency attorney, Brandon Sample, commented.
Damian's adventure with financial markets began at the Cracow University of Economics, where he obtained his MA in finance and accounting. Starting from the retail trader perspective, he collaborated with brokerage houses and financial portals in Poland as an independent editor and content manager. His adventure with Finance Magnates began in 2016, where he is working as a business intelligence analyst.
Kraken Taps Alpaca for xStocks After Backed Finance Acquisition
Executive Interview | Charlotte Bullock | Chief Product Officer, Bank of London | FMLS:25
Executive Interview | Charlotte Bullock | Chief Product Officer, Bank of London | FMLS:25
In this interview, we sat down with Charlotte Bullock, Head of Product at The Bank of London, previously at SAP and now shaping product at one of the sector’s most ambitious new banking players.
Charlotte reflects on the Summit so far and talks about the culture inside fintech banks today. We look at the pressures that come with scaling, and how firms can hold onto the nimble approach that made them stand out early on.
We also cover the state of payments ahead of her appearance on the payments roundtable: the blockages financial firms face, the areas that still need fixing, and what a realistic solution looks like in 2026.
In this interview, we sat down with Charlotte Bullock, Head of Product at The Bank of London, previously at SAP and now shaping product at one of the sector’s most ambitious new banking players.
Charlotte reflects on the Summit so far and talks about the culture inside fintech banks today. We look at the pressures that come with scaling, and how firms can hold onto the nimble approach that made them stand out early on.
We also cover the state of payments ahead of her appearance on the payments roundtable: the blockages financial firms face, the areas that still need fixing, and what a realistic solution looks like in 2026.
In this conversation, we sit down with Drew Niv, CSO at ATFX Connect and one of the most influential figures in modern FX.
We speak about market structure, the institutional view on liquidity, and the sharp rise of prop trading, a sector Drew has been commenting on in recent months. Drew explains why he once dismissed prop trading, why his view changed, and what he now thinks the model means for brokers, clients and risk managers.
We explore subscription-fee dependency, the high reneging rate, and the long-term challenge: how brokers can build a more stable and honest version of the model. Drew also talks about the traffic advantage standalone prop firms have built and why brokers may still win in the long run if they take the right approach.
In this conversation, we sit down with Drew Niv, CSO at ATFX Connect and one of the most influential figures in modern FX.
We speak about market structure, the institutional view on liquidity, and the sharp rise of prop trading, a sector Drew has been commenting on in recent months. Drew explains why he once dismissed prop trading, why his view changed, and what he now thinks the model means for brokers, clients and risk managers.
We explore subscription-fee dependency, the high reneging rate, and the long-term challenge: how brokers can build a more stable and honest version of the model. Drew also talks about the traffic advantage standalone prop firms have built and why brokers may still win in the long run if they take the right approach.
Executive Interview | Remonda Z. Kirketerp Møller| CEO & Founder Muinmos | FMLS:25
Executive Interview | Remonda Z. Kirketerp Møller| CEO & Founder Muinmos | FMLS:25
In this interview, Remonda Z. Kirketerp Møller, founder of Muinmos, breaks down the state of AI in regtech and what responsible adoption really looks like for brokers. We talk about rising fragmentation, the pressures around compliance accuracy, and why most firms are still in the early stages of AI maturity.
Ramanda also shares insights on regulator sandboxes, shifting expectations around accountability, and the current reality of MiCA licensing and passporting in Europe.
A concise look at where compliance, onboarding, and AI-driven processes are heading next.
In this interview, Remonda Z. Kirketerp Møller, founder of Muinmos, breaks down the state of AI in regtech and what responsible adoption really looks like for brokers. We talk about rising fragmentation, the pressures around compliance accuracy, and why most firms are still in the early stages of AI maturity.
Ramanda also shares insights on regulator sandboxes, shifting expectations around accountability, and the current reality of MiCA licensing and passporting in Europe.
A concise look at where compliance, onboarding, and AI-driven processes are heading next.
In this conversation, we speak with Aydin Bonabi, CEO and co-founder of Surveill, a firm focused on fraud detection and AI-driven compliance tools for financial institutions.
We start with Aydin’s view of the Summit and the challenges brokers face as fraud tactics grow more complex. He explains how firms can stay ahead through real-time signals, data patterns, and early-stage detection.
We also talk about AI training and why compliance teams often struggle to keep models accurate, fair, and aligned with regulatory expectations. Aydin breaks down what “good” AI training looks like inside a financial environment, including the importance of clean data, domain expertise, and human oversight.
He closes with a clear message: fraud is scaling, and so must the tools that stop it.
In this conversation, we speak with Aydin Bonabi, CEO and co-founder of Surveill, a firm focused on fraud detection and AI-driven compliance tools for financial institutions.
We start with Aydin’s view of the Summit and the challenges brokers face as fraud tactics grow more complex. He explains how firms can stay ahead through real-time signals, data patterns, and early-stage detection.
We also talk about AI training and why compliance teams often struggle to keep models accurate, fair, and aligned with regulatory expectations. Aydin breaks down what “good” AI training looks like inside a financial environment, including the importance of clean data, domain expertise, and human oversight.
He closes with a clear message: fraud is scaling, and so must the tools that stop it.
Exness expands its presence in Africa: Inside our interview with Paul Margarites in Cape Town
Exness expands its presence in Africa: Inside our interview with Paul Margarites in Cape Town
Finance Magnates met with Paul Margarites, Exness regional commercial director for Sub-Saharan Africa, during a visit to the firm’s office opening in Cape Town. In this talk, led by Andrea Badiola Mateos, Co-CEO at Finance Magnates, Paul shares views on the South African trading space, local user behavior, mobile trends, regulation, team growth, and how Exness plans to grow in more markets across the region. @Exness
Read the article at: https://www.financemagnates.com/thought-leadership/exness-expands-its-presence-in-africa-inside-our-interview-with-paul-margarites/
#exness #financemagnates #exnesstrading #CFDtrading #tradeonline #africanews #capetown
Finance Magnates met with Paul Margarites, Exness regional commercial director for Sub-Saharan Africa, during a visit to the firm’s office opening in Cape Town. In this talk, led by Andrea Badiola Mateos, Co-CEO at Finance Magnates, Paul shares views on the South African trading space, local user behavior, mobile trends, regulation, team growth, and how Exness plans to grow in more markets across the region. @Exness
Read the article at: https://www.financemagnates.com/thought-leadership/exness-expands-its-presence-in-africa-inside-our-interview-with-paul-margarites/
#exness #financemagnates #exnesstrading #CFDtrading #tradeonline #africanews #capetown
