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⌐◪-◪ → Ross is free!

Ross Ulbricht, founder of the Silk Road, is officially a free man after receiving a full and unconditional pardon from President Trump.

This pardon fulfills one of Trump’s clearest promises to the crypto community and signals his continued commitment to the space.

For context, Ross was sentenced to two life sentences plus 40 years for creating a website — a punishment typically reserved for the most violent criminals. Trump didn’t hold back in his pardon, calling those involved in Ross’ conviction “scum” and accusing them of the same government weaponization he’s faced himself. It’s a massive win for Bitcoiners and the broader libertarian movement, representing a victory for freedom.

Naturally, the pardon has sparked heated debates. Critics argue that Ross enabled illegal activity on the Silk Road, while defenders praise the Silk Road as one of the most decentralized and free marketplaces ever created.

At its core, this debate comes down to a fundamental question: if you create something neutral and someone uses it for harm, are you liable?

This question extends far beyond Ross and the Silk Road, touching on everything from Tornado Cash to Bitcoin itself. Are road builders liable for crimes committed on highways? Are the creators of the internet responsible for online crimes? Are central banks accountable for the illegal use of fiat currency?

Also, look at that cute lil plant!

⌐◪-◪ → Sometimes the rules are wrong!

In a monumental decision, the Fifth Circuit Court of Appeals has overturned the sanctions imposed on Tornado Cash by the Office of Foreign Assets Control (OFAC). The court ruled that the Treasury Department had exceeded its authority by sanctioning the decentralized cryptocurrency mixer, and a mandate has already been issued. There will be no further appeals by the government.

Tornado Cash’s native token, TORN, has surged 180% following the news.

This is a massive legal win for crypto, but more importantly, it’s a win for the 4th amendment — the right to privacy, a fundamental human right. For a moment, it feels like privacy is legal again in America.

The next big question: will Trump pardon the Tornado Cash developers, just as he did Ross Ulbricht? The implications of these rulings are enormous, not just for crypto but for public infrastructure as a whole.

Nice to see the system work in favor of privacy for once. The storm has lifted.

⌐◪-◪ → Introducing the crypto task force!

SEC Commissioner Hester Pierce, better known as “Crypto Mom,” has been tapped to lead the SEC’s new crypto task force.

The task force’s mission is clear: to create a comprehensive and transparent regulatory framework for crypto assets. This will likely include defining which assets are securities (regulated by the SEC) and which are commodities (regulated by the CFTC).

The good news is that both the SEC and CFTC are now headed by pro-crypto leaders, which is incredibly bullish for the industry. However, it’s worth keeping in mind that the SEC can only go so far without actual legislation being passed by Congress — a key reality check amidst the bullish vibes.

For those curious about Hester Pierce’s views on crypto, @zGuz recently interviewed her and shared an insightful thread breaking down her positions.

Here’s to the golden era of crypto and a brighter regulatory future ahead!

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