Silk Road fades away, but Ulbricht intrigues. Kraken raises funds, while $47 million in BTC floats in limbo.
President Donald Trump has just granted a full pardon to Ross Ulbricht, the founder of the dark web site Silk Road, after more than 11 years of incarceration! He had been sentenced to two life terms without the possibility of parole for charges of drug trafficking and money laundering using bitcoin. Trump's pardon, which is not favored by everyone, is part of the many promises made to the crypto community during the election period.
The decision of the U.S. Supreme Court has just shaken the world of crypto. By dismissing the controversial case of Battle Born Investments, which claimed ownership of 69,370 Bitcoins seized on Silk Road, the highest court in the United States has opened the door to a possible massive liquidation by…
Wednesday, Donald Trump revived a promise that has already created much buzz: saving Ross Ulbricht, the founder of the infamous Silk Road marketplace. The latter, in prison for 12 years, has become a controversial symbol both of the early Bitcoin era and of government excesses in the fight against cybercrime.
Bitcoin was born in one of the most tumultuous financial contexts the United States, indeed the whole world, has ever known. From 2007 to 2009, with the subprime crisis, a feeling of mistrust towards governments and banks gripped the population, leading them to question the entire monetary system.
It seems that the bearish pressure related to the GBTC ETF is fading a bit. Do we foresee the end of the tunnel for bitcoin?
The U.S. government is preparing to carry out a sensational sale: 130 million dollars worth of bitcoins from the infamous Silk Road scandal. A virtual black market specialized in money laundering and drug trafficking. A boon for bidders but a persistent shadow over the integrity of the crypto sector. Can criminals truly launder their deeds through government auctions? Authorities seem convinced that crime does pay, at least in bitcoin!