šØ NOW: Trump-backed World Liberty Financialās portfolio is down over 21% for its $242.77M crypto investment made between Jan. 19 and 31, according to SpotOnChain.
Among its biggest losses include $ETH, $WBTC and $ENA.
šØ TODAY: US stock market futures plummeted after US President Donald Trumpās recently announced trade tariffs on China, Mexico and Canada, while around $341 billion was wiped out of the crypto markets over the past 24 hours.
The Trump family's crypto project, World Liberty, purchased 3,001 ETH and 95 WBTC through Cow Protocol on January 25.
Additionally, they staked an additional 4,700 ETH through Lido Finance. Currently, the project holds a total of 54,564 ETH and 19,403 stETH, worth about 244 million USD.
Ross Ulbricht is a controversial figure and the founder of Silk Road, an online marketplace (dark web) known for selling illegal goods and services, particularly drugs, weapons, and other illicit items. Silk Road operated on Tor (an anonymity network) and used Bitcoin as the payment method to protect usersā identities and transactions.
Biography: ⢠Born: March 27, 1984, in Austin, Texas, USA. ⢠Education: Ulbricht studied at the University of Texas at Austin, where he earned a degree in physics before entering the world of technology and creating Silk Road.
Silk Road:
⢠Initial Purpose: Silk Road was founded by Ulbricht in 2011 with the idea of creating a āfree marketā where people could exchange goods and services without government control or regulatory oversight. However, Silk Road quickly became a major marketplace for illegal transactions.
⢠Transactions and Security: Silk Road was known for its high-level security and anonymity system, allowing buyers and sellers to exchange goods without revealing personal information. Transactions were made using Bitcoin, a digital currency that concealed the identities of participants.
Arrest and Conviction:
⢠Arrest: In October 2013, following an extensive investigation by the FBI, Ross Ulbricht was arrested in a San Francisco library and charged with operating Silk Road.
⢠Charges: Ulbricht was convicted on several counts, including money laundering, using computers to commit crimes, and engaging in drug trafficking. He was sentenced to life in prison without the possibility of parole in 2015, though there have been many campaigns advocating for a reduced sentence.
Debate and Views:
⢠Legal Perspective: Some argue that Ulbricht is a criminal whose actions fueled illegal activity on the internet, while others believe that his creation of Silk Road stemmed from a desire to create a space free from government interference. Some also argue that the life sentence was too harsh, especially since he was not directly involved in selling drugs or illegal products.
TRUMP Meme Coin Dips Briefly After Donald Trump Says āI donāt know much about itā In a press conference on January 21, US President Donald Trump responded to questions about his meme coin, TRUMP, admitting that he had limited knowledge of the token despite its market success.
His comments led to a brief dip in the tokenās price, which subsequently rebounded.