Ross Ulbricht news

Ross William Ulbricht (born March 27, 1984) is an American former drug trafficker and darknet market operator, best known for creating and running the Silk Road website from 2011 until his arrest in 2013. He was known under the pseudonym "Dread Pirate Roberts".

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Roger Ver calls Ross Ulbricht a genius; urges people to sign petition for his release

Bitcoin hard fork proponent, Roger Ver, called Ross Ulbricht a genius entrepreneur and a hero during a recent YouTube session. Ulbricht, who was the founder of Silk Road, was charged with money laundering, computer hacking, and conspiracy to traffic narcotics. He further emphasized that Ulbricht was condemned to die in prison unless he got a pardon from the President of the United States. The CEO of Bitcoin.com stressed that Ulbricht had already served around six years in jail and urged people to sign a petition for his release. At press time, over 156,300 individuals had signed the petition. The BCH advocate also revealed that the team was planning to organize a benefit concert for the ‘Free Ross’ campaign in Los Angeles this year. Ver and many crypto-luminaries had previously criticized the prosecution, terming it too harsh a sentence for creating a mere e-commerce website. Litecoin’s [LTC] Charlie Lee had also tweeted in support of Ulbricht, “Whatever you think of Silk Road, Ross Ulbricht, creator of Silk Road, does not deserve a life sentence without the possibility of parole.” Ulbricht, a first-time offender, is currently serving two life sentences without parole, and an additional 40 years for all non-violent charges associated with the creation of Silk Road. Ulbricht intended Silk Road to be a free market experiment with the underlined idea – to maintain user anonymity, using Tor and Bitcoin. According to Ulbricht, individuals should have the right to trade anything, as long as they don’t hurt anyone. Tor was useful towards this purpose as it helped in maintaining user anonymity by concealing IP addresses. The post Roger Ver calls Ross Ulbricht a genius; urges people to sign petition for his release appeared first on AMBCrypto.
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Bitcoin Cash [BCH] advocate Roger Ver shows his support for Silk Road founder Ross Ulbricht again

The cryptocurrency ecosystem has seen quite a few users who were prosecuted for using the decentralized ecosystem for nefarious practices. One standout example of this was Ross Ulbricht, who was jailed in connection with the Silk Road scandal in 2013. He was convicted of money laundering and major computer hacks and was worth a whopping $28.5 million at the time of his arrest. Since then, many proponents from the field of digital assets have come out in support of Ulbricht, claiming that the regulations on which he was arrested were flawed or flimsy. Roger Ver, the Chief Executive Officer of Bitcoin.com and a major Bitcoin Cash [BCH] advocate, has been a supporter of Ross Ulbricht for a long time and recently declared his support again with a tweet. In the message, he had tagged Donald Trump, asking for Ulbricht’s release, while also sharing a message from Tim Draper, who supported the Silk Road Founder. Tim Draper said: “Free Ross! We need that guy in the economy. That’s all there is to it. He is clearly one of the great entrepreneurs in the world. He should be pardoned, he should get out of jail.” Draper isn’t the only famous personality in the crypto-verse who has supported Ulbricht in the past, as Charlie Lee, the founder of Litecoin [LTC], had also come in support of the jailed crypto-enthusiast. Lee had earlier stated: “Whatever you think of Silk Road, Ross Ulbricht, creator of Silk Road, does not deserve a life sentence without the possibility of parole.” The Free Ross movement has been ongoing for a long time now, with the hashtag #freeross becoming a symbol against oppressive prosecution. Roger Ver had spoken about Ulbricht multiple times earlier and had even written a letter to Ulbricht. The CEO had discussed the issue with Gabriel Cardona on a Bitcoin.com episode too. He said in the episode: “Basically, Ross Ulbricht is the person that made Bitcoin start to become popular to being with. He made a useful platform that people started to use. Silk Road was useful, so, people started to use it and that’s what kicked-off this whole ecosystem.”   The post Bitcoin Cash [BCH] advocate Roger Ver shows his support for Silk Road founder Ross Ulbricht again appeared first on AMBCrypto.
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Bitcoin Jesus “Roger Ver” Asks For Forgiveness For Ross Ulbricht Of Silk Road

Roger Ver has been one of the biggest supporters of free-market paragons and cryptocurrencies. Silk Road was at the intersection of both these phenomenons, and perhaps it might not come as a surprise to many that he is a supporter of Ross Ulbricht of Silk Road. I sent a letter to Ross Ulbricht, and you should too. https://t.co/OXdqkjzu9B#FreeRoss #Silkroad pic.twitter.com/IGiwQtvIen — Roger Ver (@rogerkver) February 17, 2019 Ross Ulbricht is serving a double life sentence + 40 years without parole for all non-violent charges associated with creating the Silk Road website. Passionate about privacy and free markets, he was 26 years old when he made the site. He had no prior record and no victim was named at trial. Silk Road was an online marketplace with an emphasis on user privacy. Using the cryptocurrency Bitcoin on the Tor browser, people anonymously exchanged a variety of goods, both legal and illegal, including drugs. In the sentencing letter to his judge, Ross wrote: “Silk Road was supposed to be about giving people the freedom to make their own choices, to pursue their own happiness, however they individually saw fit. [It] turned out to be a naive and costly idea that I deeply regret.” The issue with both Silk Road and Ross has divided the entire crypto ecosystem. Perhaps not surprising is the fact that Dr. Craig Wright condemned Ross and Wikileaks in one of his recent blog posts. He had written: “I do not like Wikileaks, and I have never been a fan of Assange’s methods. More importantly, I am strongly opposed to criminal markets and bucket shops. Ross Ulbricht and others like him are criminals. They are not freedom fighters, they are not libertarians. They simply are predators, and they are all that Bitcoin was designed to make far more difficult.” Ross is now serving his sixth year in prison and has paid a heavy price. He was an idealistic entrepreneur who never intended harm. He has expressed profound remorse, and if released tomorrow, he would never break the law again. He still clasps to the hope of a second chance and dreams of a future where he can use his education, knowledge, and skills to contribute to his community and society.
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Bitcoin Cash [BCH]: Roger Ver pushes for the release of Silk Road’s Ross Ulbricht

Ross Ulbricht, the man behind Silk Road is the protagonist of a debate that has divided the cryptocurrency community yet again. Bitcoin Cash [BCH]’s Roger Ver, also the CEO of Bitcoin.com and popularly referred to as Bitcoin Jesus has been a long supporter of “free-market” ideals (Something Silk Road claimed to have run on) and the use of cryptocurrencies for the same. He recently reaffirmed his support for Ulbricht, mailing him a letter advocating the same. Tweeting on 17 February, Ver said that he had mailed a letter to the United States’ Penitentiary in Tuscon, Arizona where Ulbricht is currently serving a double life sentence, without parole. The Bitcoin.com CEO did not specify the contents of the letter, but voiced his support for Ulbricht and added a link to the website that advocates for his release: freeross.org. His tweet in full read, “I sent a letter to Ross Ulbricht, and you should too. freeross.org  #FreeRoss #Silkroad” The Ross Ulbricht issue is one of the most divisive issues within the cryptocurrency community, with some advocating free market principles and some citing the illegality of the articles sold on the ‘marketplace.’ Craig S Wright, the Chief Scientist at nChain and spearhead of the Bitcoin SV [BSV] project firmly placed himself opposed to Ver’s point, in both the BCH hardfork debate back in November 2018 as well as on the Ulbricht issue. In an 8 February blog posted by Wright via Medium, he voiced his opposition for what he described as ‘criminal markets.’ He likened Ross Ulbricht and Silk Road to WikiLeaks and Julian Assange, calling the duo, ‘predators.’ Wright further added that the case of Silk Road,was something Bitcoin should make, ‘more difficult,’ and not one it should facilitate. His blog, which was titled, ‘Careful what you wish for…’ read, “I do not like Wikileaks, and I have never been a fan of Assange’s methods. More importantly, I am strongly opposed to criminal markets and bucket shops. Ross Ulbricht and others like him are criminals. They are not freedom fighters, they are not libertarians. They simply are predators, and they are all that Bitcoin was designed to make far more difficult.” The topic of Ulbricht was also discussed by Roger Ver and Gabriel Cardona in Bitcoin.com’s latest episode on YouTube. The BCH proponents were discussing the recently concluded Anarchapulco 2019 Festival, which featured Lyn Ulbricht, Ross Ulbricht’s mother. In the video, Ver described Ross Ulbricht as, “Basically, Ross Ulbricht is the person that made Bitcoin start to become popular to being with. He made a useful platform that people started to use. Silk Road was useful, so, people started to use it and that’s what kicked-off this whole ecosystem.” Ver and Cardona also stated that the Bitcoins that were seized and crowd-sold from Silk Road were primarily purchased by Tim Draper, the American venture capitalist. In light of the same, Ver appealed to Draper and the larger community to push for Ulbricht’s release, “Tim Draper, if you happen to see this, you profited greatly from the Silk Road coins that you bought. Help out Ross, right, this guy does not deserve to die in prison.” Users on Twitter were however split on this topic. @XrpBro commented, “Didn’t he order murders? He should be free? Why?” Zone Zero Apps further added, “Why? He is a criminal. If not caught, he would still be selling drugs and weapons….” However, @Russell voiced his support for Ulbricht, stating, “They’re never going to let Ross free. Instead of spending so much time and money on that, we should be taking care of his family and others who are in desperate situations that can be helped. @rogerkver @Free_Ross #Silkroad” The post Bitcoin Cash [BCH]: Roger Ver pushes for the release of Silk Road’s Ross Ulbricht appeared first on AMBCrypto.
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Why Bitcoin won’t bounce back

This week everyone followed the rates passionately, being ready to either buy or sell (or hodl :-) quickly. Also, cryptoad is back, as well as those crypto folks, who were believed long lost. Redditors discussed everything and we tracked it down

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Biggest weekly losers: XRP, Litecoin [LTC], Stellar Lumens [XLM] fall by 10%; market tanks after Bitfinex-Tether fiasco

The market saw prices of most major cryptocurrencies soar earlier this week. However, the weekend has led to a new turn of events as coins are now being dragged into bearish territory. Among the top-10 coins, the five cryptocurrencies that saw the biggest fall were Stellar Lumens [XLM], EOS, Cardano [ADA], XRP, and Litecoin [LTC]. The fall in prices was a result of the Bitfinex-Tether fiasco. New York State’s Attorney General’s [NYAG] office revealed that iFinex, the company behind the crypto-exchange Bifinex, may be violating New York Law. This announcement was in relation to activities that “may have defrauded” local investors who trade in cryptocurrencies. Stellar Lumens [XLM] Source: Trading View Stellar Lumens [XLM] was valued at $0.1158 on April 20 and fell by 14.68% over the week. At press time, the coin was valued at $0.0990 with a market cap of $1.88 billion. The 24-hour trading volume was noted to be $276 million, as the coin fell by 4.50% over the past day and continued to dip by 0.43% within the past hour. EOS Source: Trading View EOS, at the beginning of the week was valued at $5.47, after which it fell by 13.97% over the past seven days. At press time, the coin was valued at $4.70, with a market cap of $4.43 billion. The 24-hour trading volume of the coin was $2.62 billion as it fell by 1.91% over the past day. The coin, at press time, was falling by 0.14% and failed to recover. Cardano [ADA] Source: Trading View Cardano [ADA] fell by 13.41% over the week, which resulted in its price falling from $0.0769 to $0.0690. The market cap of the coin was reported to be $1.78 billion and the 24-hour trading volume was $108 million. Over the past 24-hours, the coin fell by 4.47% and continued to fall by 1.35% within the past hour. XRP Source: Trading View At the beginning of the week, XRP was valued at $0.3325, after which it slipped by 11.88% and, at press time, was valued at $0.2929. The market cap of the coin was noted to be $12.30 billion and the trading volume of the coin was $1.36 billion. XRP fell by 2.49% over the past day and by 0.50% over the past hour. Litecoin [LTC]  Source: Trading View Litecoin [LTC] noted a fall of 10.79% over the past week, which reduced the price of LTC from $81.33 to $72.64. The market cap of the coin was $4.46 billion with a 24-hour trading volume of $3.15 billion. The price of the coin fell by 0.77% over the past 24-hours and by 0.94% within an hour. The post Biggest weekly losers: XRP, Litecoin [LTC], Stellar Lumens [XLM] fall by 10%; market tanks after Bitfinex-Tether fiasco appeared first on AMBCrypto.
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Bitfinex: $850M Lost Tether ‘False Assertion’

Following the New York Attorney General’s accusations of a $850M cover-up by Bitfinex, the company has issued its response. Binfinex refutes the claims as ‘riddled with false assertions’ and that the funds are not lost.  The Cover-Up Claims According to the NY Attorney General’s claim, Bitfinex lost $850 million of customer money. This had been sent to, and seized by payment processing firm, Crypto Capital Corp. The allegation goes on to say that Bitfinex used cash reserves from affiliated stablecoin, Tether, to cover the shortfall. The AG, Letitia James, claims this ‘loss of funds’ and movement of reserves was not disclosed by operator of both Bitfinex and Tether, iFinex. Therefore, it had “engaged in a cover-up to hide the apparent loss of $850 million of co-mingled client and corporate funds.” At press time, the price of USD Tether 00 has fallen bellow its $1 peg. Meanwhile, its stablecoin competitors such as USD-Coin 00  and TrueUSD 00 are now trading at a slight premium. This suggests that investors are likely swapping their tethers  to avoid any further surprises. Worth noting, Bitcoinist reported yesterday that the supply of tethers has reachd an all-time high. ‘Bitfinex and Tether are Financially Strong’ Bitfinex responded today by claiming that the AG’s filings: …were written in bad faith and are riddled with false assertions, including as to a purported $850 million “loss” at Crypto Capital. It claimed that these funds were not lost, but had “been, in fact, seized and safeguarded,” and it was actively working to get those funds released. It went on to chastise the AG for not doing more to aid and support its recovery efforts. Both Bitfinex and Tether are financially strong – full stop. And both Bitfinex and Tether are committed to fighting this gross overreach by the New York Attorney General’s office against companies that are good corporate citizens and strong supporters of law enforcement. Bitfinex and Tether will vigorously challenge this, and any and all other actions, by the New York Attorney General’s office. The Double Standards Caitlin Long pointed out on Twitter, that even if the allegations were true, the NY AG was guilty of double standards. From 2009-12, Merrill Lynch, according to the SEC: commingled customer funds, used them to cover its own obligations, & had it failed its customers would have been exposed to a “massive shortfall in the reserve account.” Which is essentially what the AG is accusing iFinex of. But whilst the SEC dealt with the Merrill Lynch case without causing panic and customer withdrawals, the move by the AG has sparked just that for iFinex. 7/ So…#NewYork did good investigative work here but needs to be called to task on why the double standard, and why the "gotcha" approach? Why not do the same to #WallSt firms when they play similar shell games??? — Caitlin Long (@CaitlinLong_) April 26, 2019 She also urged exchanges to clean up their acts regarding transparency and proof of solvency, to avoid such situations. The Problem? The Attorney General’s filing, asserts that the Tether funds were extended as a line of credit, over three years, with a 6.5% interest rate. An iFinex share charge, of 60,000,000 shares, secured the loan. Entrepreneur and commentator, Alistair Milne, Tweeted the situation rather succinctly, concluding that, as long as “Bitfinex trades profitably, no problem.” TL:DR the Tether/Bitfinex news:Bitfinex have borrowed ~700mil from TetherBitfinex pay a 'fair' interest rate on this loan60million shares in Bitfinex were pledged as collateralIf CryptoCapital release the USD, no problemIf Bitfinex trades profitably, no problem — Alistair Milne (@alistairmilne) April 25, 2019 Which brings us back to transparency and disclosure. If iFinex told customers and investors about this alleged ‘seizure’ and ‘loan’, then would they now have a problem? And is the AG’s ‘gotcha’ approach really warranted in any case? Is the NY Generaly Attorney acting in ‘bad faith’? Share your thoughts below! Images via Shutterstock The post Bitfinex: $850M Lost Tether ‘False Assertion’ appeared first on Bitcoinist.com.
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New York Attorney General’s Office Accuses Bitfinex Of Covering $850 Million Losses Using Tether Funds

If you are our BitcoinExchangeGuide’s regular reader. You should already know about the shady connection between Bitfinex and Tether. This Thursday, a document by the New York Attorney General’s (NYAG) office revealed that iFinex, the company behind both Tether (USDT) and Bitcoin exchange Bitfinex, is being sued. In the press release, the attorney general Letitia […]
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