Donald Trump has pardoned Ross Ulbricht after 11 years in prison.
But who is he, and how is this going to impact crypto?
Here’s the full story👇
➢ Ross Ulbricht was 26 when he created Silk Road in 2011.
➢ Silk Road was an online marketplace where almost anything could be bought or sold using Bitcoin.
➢ Bitcoin was used for peer-to-peer transactions, and Tor ensured privacy.
➢ At its peak, Silk Road handled 90% of Bitcoin transactions and made $22 million annually.
➢ Ross believed Bitcoin could fight inflation and challenge traditional systems, using Silk Road to promote human freedom.
➢ The government shut it down, not just for drugs but because it was too effective.
➢ In 2013, Ross was arrested and sentenced to double life plus 40 years with no chance of release.
➢ His wallet at the time held 144,000 $BTC , making him one of the biggest Bitcoin holders.
➢ Trump had promised to free Ross, and now, after 11 years, he has been released.
