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The odds of US President Donald Trump pardoning Ross Ulbricht within his first 100 days in office have risen to 95% following a recent comment by Tesla founder Elon Musk.
“Ross will also be released,” Musk said in a Jan. 21 response to a post on X.
Ross will also be released
– Elon Musk (@elonmusk) January 21, 2025
Shortly after Musk’s response, the decentralized prediction platform saw Ulbricht’s pardon odds rise from 54%. Bettors on Polymarket now He put the odds of the Silk Road founder receiving a pardon from Trump at 95%.
The amount of betting on a possible pardon for Ross Ulbricht reached more than $5.27 million.
The founder of the Silk Road was sentenced to life imprisonment
The bet on Ross Ulbricht receiving a pardon from Trump comes after the Silk Road founder was arrested in 2013 and sentenced to life imprisonment in 2015 without the possibility of parole. He was convicted of creating and running what became the most popular dark web marketplace at the time which allowed users to sell illegal products, especially drugs. The platform used Bitcoins for transactions to maintain anonymity.
Many believed that Ulbricht’s sentence was too long for the crime. His supporters collected more than 600,000 signatures on the website freeross.org requesting a clemency for Ross Ulbricht. Among those who signed the petition are Bitcoin holders who support the idea of the Silk Road.
Trump promised to pardon Ulbricht
Last May, Trump first promised to pardon Ulbricht during a campaign at the Liberal National Convention.
“If you vote for me, on day one, I will commute Ross Ulbricht’s sentence to time served,” Trump said, adding: “He’s already served 11 years, and we’re going to send him home.”
Despite his aggressive crypto-oriented campaign, the US President has not issued any official statement regarding Ulbricht or his digital asset policies.
However, Musk’s post on X raised the odds of Ulbricht being released. Angela McArdle, chair of the Libertarian National Committee, also stated that a pardon for Ulbricht was planned.
Meanwhile, Ulbricht has distanced himself from any cryptocurrency or meme that uses his name. He posted on X that there is no official “Russian currency”.
Roger Ver, an early Bitcoin investor and Bitcoin Cash proponent, also has an amnesty bet from Polymarket. Fair was charged with tax fraud last April, and the market currently sees a 32% chance that he will receive a pardon within the first 100 days of Trump entering the White House for his second term.
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