U.S. presidential candidate Robert F. Kennedy Jr. (RFK Jr.) has promised to pardon Ross Ulbricht if elected. Like former U.S. President Donald Trump, Kennedy advocates for Ulbricht’s release. Both candidates vow to stop President Joe Biden’s anti-crypto policies and oppose the creation of central bank digital currencies (CBDCs). RFK Jr. Advocates for Ross Ulbricht’s Pardon […]
Bitcoin News
Donald Trump Pledges to Stop Biden’s Anti-Crypto Agenda, Protect Bitcoin, Free Ross Ulbricht
Presidential candidate and 45th U.S. President Donald Trump has declared support for the crypto sector. “I will also stop Joe Biden’s crusade to crush crypto,” he promised. “I will support the right to self-custody.” He will also “commute the sentence of Ross Ulbricht to a sentence of time served.” Moreover, Trump stressed, “I will keep […]
Bitcoin News
Heartland Tri-State Bank Collapses, Biden Urged to Grant Silk Road’s Ross Ulbricht Clemency, and More — Week in Review
In this week’s news, another major U.S. bank has failed, a Maine senator has appealed to United States president Joe Biden to grant Silk Road creator Ross Ulbricht clemency, a senior U.S. district judge has rejected the approach taken in the SEC v. Ripple ruling regarding XRP, and Robert Kennedy Jr. and Ron Paul agree: America doesn’t have a free market. This is the Bitcoin.com News Week in Review.
Another US Bank Collapses: Heartland Tri-State Bank Closed by Regulator
Heartland Tri-State Bank has become the latest bank in the U.S. to fail. The Kansas banking regulator has closed the bank and appointed the Federal Deposit Insurance Corporation (FDIC) as the receiver.
Maine Senator Urges Biden to Consider Clemency for Ross Ulbricht During President’s Auburn Visit
On July 28, 2023, U.S. president Joe Biden made a trip to Auburn, Maine, where he delivered a speech at Auburn Manufacturing and subsequently attended a private fundraising gathering. Eric Brakey, the Republican senator representing Maine, greeted Biden upon his arrival in Auburn and handed him a note. In the message, he suggested that the president should consider granting clemency to the Silk Road creator Ross Ulbricht.
US District Judge Rejects Approach in SEC v Ripple Ruling on XRP
A senior U.S. district judge has rejected the approach taken in the Securities and Exchange Commission (SEC) v. Ripple ruling regarding XRP. “The court declines to draw a distinction between these coins based on their manner of sale,” explained the district judge presiding over the SEC v. Terraform Labs case.
Robert Kennedy Jr and Ron Paul Agree America Doesn’t Have a Free Market
U.S. presidential candidate Robert F. Kennedy Jr. (RFK Jr.) and former U.S. Representative Ron Paul agree that America does not have a free market. Referencing RFK Jr. stating that America has “a crony corporatist system,” Paul stressed: “He’s right!”
How would you define a free market? Be sure to let us know your thoughts in the comments section below.
Maine Senator Urges Biden to Consider Clemency for Ross Ulbricht During President’s Auburn Visit
On July 28, 2023, U.S. president Joe Biden made a trip to Auburn, Maine, where he delivered a speech at Auburn Manufacturing and subsequently attended a private fundraising gathering. Eric Brakey, the Republican senator representing Maine, greeted Biden upon his arrival in Auburn and handed him a note. In the message, he suggested that the president should consider granting clemency to the Silk Road creator Ross Ulbricht.
Plea for Justice: Senator’s Push for Ulbricht’s Clemency During Biden’s Maine Tour
When Joe Biden, the 46th and sitting president of the United States, made his way to Auburn, Maine, he marked the first presidential visit to the town in an entire 110-year span. Speaking at the Auburn Manufacturing site, Biden proudly proclaimed his conviction that ‘Bidenomics‘ is yielding success. “We now have more jobs than we had before the pandemic,” Biden explained during his visit. “People are coming off the sidelines — unemployment is down and so is inflation.”
As Biden paid a visit to Auburn, the Republican senator Eric Brakey took the opportunity to personally welcome the president and subsequently chronicled the event on the social media platform X (formerly known as Twitter). “Today, I met @POTUS, welcomed him to Auburn, and gave him this note,” Brakey shared. The note itself contained the following plea:
Mr. president, welcome to Auburn ME! Please consider clemency for Ross Ulbricht. Life in prison for building a website is cruel and unusual punishment. Sincerely, Eric Brakey.
Ross Ulbricht is the founder of Silk Road, a now-defunct online darknet marketplace. In 2015, he was sentenced to a double life imprisonment without parole for various charges related to the website. Many supporters argue that his sentence is unjust due to flaws in the investigation, trial, and sentencing. They highlight concerns about misconduct by law enforcement, the disproportionate punishment compared to other similar cases, and the belief that non-violent offenders deserve a chance at rehabilitation.
A petition beseeching the U.S. president to bestow clemency upon Ulbricht has gathered momentum since its inception, with 563,708 signatures at the time of this writing. “There is a strong, bipartisan consensus that Ross’s sentence is unjust and that he deserves a second chance,” declares Ulbricht’s mother, Lyn Ulbricht, in the petition letter. “Over 250 organizations, eminent individuals, and leaders have voiced their support for Ross’s clemency.”
Thomas Massie, the Republican representative from Kentucky, echoes Brakey’s sentiments on the issue in a statement featured on freeross.org. “This is the greatest violation of the 8th Amendment that I am aware of in the United States today,” Massie stated in his endorsement for a second chance for Ulbricht. “What Ross Ulbricht did from a computer screen does not deserve 2 life sentences + 40 years without the chance of parole … This is cruel and unusual punishment … This guy should not rot in jail and die there. He deserves a second chance.”
In October 2022, Ulbricht penned a heartfelt letter to president Biden, imploring him for a second chance at life. “I know I could be—and yearn to be—a positive influence in the free world,” Ulbricht conveyed in his plea to the president. “Please give me a second chance so I can prove that I can be an asset to my community and country. If you see fit to commute my sentence, I will owe you my life, and I will never let you down.” Besides Ulbricht’s personal appeal last year, the senator from Maine is also urging Biden to contemplate granting him clemency.
What do you think about the letter the senator from Maine gave to Biden? Share your thoughts and opinions about this subject in the comments section below.
Silk Road’s Ross Ulbricht Brands Ethereum’s MakerDAO a “Cool Concept”
There’s no doubt Ethereum decentralized finance (DeFi) has been a hot trend over recent weeks. Nothing shows this as well as the value of cryptocurrencies locked in
With DeFi gaining steam, there have been new voices chiming in. One such voice commenting on DeFi is Ross Ulbricht, one of the earliest known Bitcoin adopters and the founder of the online marketplace Silk Road.
Related Reading: DeFi Effect: Scaling Debate Begins as Ethereum Fees Reach Two-Year Highs
Ethereum’s DeFi Flagship MakerDAO Is a “Cool Concept”
Ulbricht, who is currently serving time in prison due to his involvement in the Silk Road, published a piece on June 26th outlining his thoughts on MakerDAO.
He opened it by saying that he thinks the Maker Protocol is a “cool concept” yet noted that the structure of the protocol does have flaws:
“Vault owners in the Maker Protocol are doing something similar [to modern banking]. They are holding ether in their vaults, then lending out DAI backed by that ether. […] This is not a good model for Maker to emulate.”
The early Bitcoin adopter explained that with this system, crashes like the one in March, when MakerDAO basically went into debt, could happen again.
Ulbricht suggested that to combat these issues, Maker should implement a negative stability fee. Alternatively, he suggested a system where owners of Maker Vaults, which mint the DAI stablecoin, set fees for users of the protocol.
Ulbricht Is Short-Term Bearish on Bitcoin
Ulbricht’s thoughts on MakerDAO isn’t the only commentary on crypto he has recently dispensed.
The early Bitcoin adopter wrote in a Medium post titled “Bitcoin by Ross #9: A Strong Signal for Lower Prices” that the asset is likely in the second phase of a macro bear market.
Citing Elliot Wave analysis, he suggested that Bitcoin could fall to the ,000s or even ,000s by June or July. Alternatively, Ulbricht wrote, those prices could be reached in 2021.
According to Investopedia, Elliot Wave analysis “is a method of technical analysis that looks for redcurrant long-term price patterns related to persistent changes in investor sentiment and psychology.”
That’s not to say that he thinks Bitcoin will collapse in the long run. Far from.
If anything, Ulbricht is more bullish than ever before, it’s just that he sees a short-term correction in the works. Case in point, he wrote in a follow-up post to the post predicting a drop under ,000:
“I am still bullish long-term… The point is — long term — the sky is the limit. The remainder of wave II and the start of wave III will seem like insignificant fluctuations by the time wave III is under way. Decades from now, anything below ,000 will seem cheap.”
Related Reading: A DCG Executive Has an Unexpected Concern for Ethereum’s DeFi
Featured Image from Shutterstock Price tags: ethusd Silk Road's Ross Ulbricht Brands Ethereum's MakerDAO a "Cool Concept"
Happy Birthday, Bitcoin! A Letter From Ross Ulbricht
n nn nn Happy Birthday, Bitcoin!Bitcoin is turning ten, and like many of us, I feel like a proud parent, having watched it grow into its potential over the years. I guess Im the estranged father in prison though, who cant be there to help raise his kid.Bitcoin Mommy, whens Daddy coming homeMommy Hell come home as soon as he can, sweetie.Bitcoin Why did he leave us, MommyMommy Ill explain when youre older. Now run along and play blockchain with the other cryptos.Bi
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Lyn Ulbricht Speaks Out on the Anniversary of Her Sons Incarceration
n nn nn n nn n n nnOn the most recent episode of The Tatiana Show, host Tatiana Moroz opened with an interview with Lyn Ulbricht, leader of the Free Ross campaign, to deliver some recent updates with the struggle to petition the carceral state for his clemency. Ross Ulbricht just completed his NTH year of a double life sentence, plus 40 years, as a first-time, nonviolent offender. On the anniversary of his incarceration, his mother described some of the contenti
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Lyn Ulbricht Rosss Latest Appeal About Constitutional Protections and Freedoms for Us All
In May of 2015, Ross Ulbricht was sentenced to life in prison without parole for his role in operating the dark web site Silk Road. Exactly two years later, the Court of Appeals for the Second Circuit upheld his conviction and sentencing.Now in a landmark request, Ulbricht has appealed to the the Supreme Court SCOTUS regarding the Second Circuits decision. A petition for a writ of certiorari has been submitted seeking a hearing for the overturn of the decision upheld this year by the Second C
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Ross Ulbricht Drops Claim to Millions Raised in Silk Road Bitcoin Auctions
The convicted operator of the Silk Road dark market has given up his claim to over million raised after the sale of more than 144,000 bitcoins.
BitNewz.net
Ross Ulbricht Drops Claim to Millions Raised in Silk Road Bitcoin Auctions
The convicted operator of the Silk Road dark market has given up his claim to over million raised after the sale of more than 144,000 bitcoins.
CoinDesk