DOJ has been given green light to sell 69,370 BTC seized from the Silk Road. Coupled with the equities dropped as a result of potentially the FED won't cut interest rate this month (Jan 2025), crypto market is spooked, and BTC dropped from ~95k to now ~93.5k.
Will there be more liquidation? Probably. Or probably not, as usual, as market might have digested the news, but many are waiting at the sideline for more data and guidance.
Just trade carefully, as the focus is now closer towards the president inauguration in a week-plus time, and any other future policies to be announced by Trump.
I would expect Trump to protest the sale, and even support the notion of revealing the hacker "Individual X". This would provide some support to BTC. Let's see. #BTC #SilkRoad

$TRUMP

Former U.S. President Donald Trump has granted a full pardon to Ross Ulbricht, the founder of the Silk Road online marketplace, marking the end of his double life sentence. Ulbricht, now 40, was convicted for his role in creating and managing the Silk Road, a platform that facilitated the trade of illicit goods and services using Bitcoin, generating over $200 million in transactions during its operation from 2011 to 2013.
A Decade Behind Bars Comes to an End
Ulbricht’s case has long been a focal point in both legal and cryptocurrency circles, representing one of the earliest examples of Bitcoin’s use in unlawful activities. His arrest in 2013, following an FBI operation that also resulted in the seizure of 69,370 Bitcoins, became a landmark moment in crypto history. These Bitcoins, now valued at over $6 billion, were liquidated under the previous administration.
Trump fulfilled his campaign promise to address what many viewed as an excessive sentence. The Libertarian Party, which had championed Ulbricht’s release, criticized the double life sentence as disproportionate compared to other offenders connected to the platform. Trump, echoing this sentiment, called the punishment “ridiculous” and highlighted Ulbricht’s potential for contributing positively to society.
Ulbricht’s Journey and Redemption
Ross Ulbricht’s family, particularly his mother Lyn, has been vocal about the harshness of his punishment while acknowledging his mistakes. Lyn Ulbricht has consistently emphasized that her son’s vision for Silk Road was rooted in idealism—a decentralized marketplace fostering open communication and interaction. However, Ross underestimated the risks and failed to anticipate how malicious actors might exploit his creation.
While his actions had undeniable consequences, supporters argue that Ulbricht’s intentions and the decade he has spent in prison should suffice as accountability. Trump’s pardon offers Ulbricht an opportunity to rebuild his life and potentially make a meaningful contribution to the world—a sentiment echoed by many within the crypto and libertarian communities.
This clemency underscores the broader conversation about sentencing reform, the role of cryptocurrencies, and the balance between justice and redemption. Ulbricht’s release is seen as a step toward addressing these nuanced issues in an evolving digital era.

#RossUlbricht #SilkRoad #PresidentialPardon #donaldtrumpvictory

Once sentenced to life imprisonment for his role in creating the Silk Road darknet marketplace, Ross Ulbricht’s story has taken an unexpected turn with his release, sparking intense debate. While some hail him as a champion of liberty and innovation, others view him as a deeply flawed figure embroiled in serious allegations.
Ulbricht’s Libertarian Vision and the Silk Road Ideology
Ross Ulbricht has been celebrated by supporters as a visionary libertarian and a figure akin to Julian Assange and Satoshi Nakamoto. Forbes once described him as a principled cypherpunk, striving to use decentralized marketplaces to undermine violent cartels and oppressive state control over substance use. His belief in free markets led to the creation of Silk Road, a platform that facilitated anonymous transactions, primarily for illicit goods. Ulbricht argued that such a system could reduce violence and corruption by disrupting traditional black markets.
However, Ulbricht’s legacy is complicated by allegations of his involvement in darker activities. Among these claims was an accusation that he orchestrated a murder-for-hire plot targeting a former administrator accused of stealing Bitcoin. This accusation, though ultimately dismissed, remains a stain on his public image and has fueled heated discussions about his character and intentions.
Legal Challenges and Controversies
Ulbricht’s trial was as controversial as it was unprecedented. He was convicted of non-violent crimes such as drug trafficking and money laundering, yet he received a staggering sentence: two life terms plus forty years without parole. While the murder-for-hire accusations were dismissed in 2018, the trial revealed troubling instances of corruption among law enforcement. Investigators assigned to the Silk Road case were found guilty of fabricating evidence and stealing cryptocurrency from the platform itself.
Moreover, doubts linger about the true identity of the Silk Road’s infamous operator, Dread Pirate Roberts (DPR). Evidence presented during the trial suggested that multiple individuals may have shared the DPR identity. Some witnesses even speculated that Ulbricht was not the sole mastermind and pointed to others, such as former Mt. Gox CEO Mark Karpeles, as potential operators. These unresolved questions cast uncertainty over the extent of Ulbricht’s actual involvement in the platform’s operations.
The Legacy of Ross Ulbricht and Silk Road
Despite the legal and ethical controversies surrounding Ulbricht, his case has sparked an enduring conversation about online marketplaces, digital privacy, and the limits of government control. While his supporters argue that his punishment was excessively harsh for non-violent crimes, critics contend that his actions, whether intentional or not, facilitated harm and exploited legal loopholes.
Ross Ulbricht remains a polarizing figure—a symbol of both the promise and the perils of the digital age. His story underscores the complexities of innovation in unregulated spaces and the profound legal, moral, and societal questions they raise.
#RossUlbricht #SilkRoad #Cryptocurrency #OnlineMarketplaces #JusticeDebate

Donald Trump, the President of the United States, has just decided to grant clemency to Ross Ulbricht, the founder of the Silk Road market, ending his life sentence after more than a decade.
Ross Ulbricht, 40, was convicted of creating and operating Silk Road – a black market where illegal goods and services were traded using Bitcoin. This market generated over $200 million from transactions before being shut down by the FBI in 2013.