Changpeng Zhao, widely known in the cryptocurrency space as CZ, reacted positively to Silk Road creator Ross Ulbricht receiving a full and unconditional pardon from the U.S. president. The news has generated widespread celebration within the cryptocurrency community.
CZ, the co-founder of Binance, expressed gratitude for the development while signaling hope for a similar resolution to his legal troubles. Ulbricht’s pardon was announced by the @Free_Ross account on X, where the team expressed immense gratitude, stating the U.S. president had saved Ross Ulbricht’s life.
The account described the president as a “man of his word” who had made good on a key campaign promise. CZ, acknowledging the news, retweeted the post with a clapping hands emoji. A user later commented, expressing hope that CZ might also receive a pardon, to which he responded with a folded hands emoji.
Also Read: Ross Ulbricht Released from Prison After Nearly a Decade Behind Bars
CZ’s Legal Troubles and the Ripple Effect
CZ’s reaction to Ulbricht’s pardon comes against his legal issues, as the U.S. government charged Binance with securities regulation violations and money laundering requirements in late 2023, leading to CZ’s resignation as the company’s top executive.
After these actions, Binance made a significant financial payment, and CZ lost control of the company. CZ served his short jail term at a U.S. prison between May and October 2024, while his legal situation remains uncertain.
Despite these challenges, CZ has remained a prominent figure in cryptocurrency. His brief public statement on the pardon reflects a broader sentiment within the crypto community, which often views regulatory and legal actions as obstacles to innovation and freedom in the sector.
Crypto Leaders and Community Reaction to Ulbricht’s Pardon
The announcement of Ulbricht’s pardon has drawn widespread support from crypto leaders and enthusiasts. Figures such as Erik Voorhees, the founder of ShapeShift, and Gabor Gurbacs, a Tether advisor, voiced their approval online.
Many noted Ulbricht’s role as a pioneer in Bitcoin adoption, as Silk Road was one of the first platforms to use Bitcoin as a currency.
Ulbricht’s conviction in 2013 for running Silk Road resulted in a double life sentence, which many in the crypto space viewed as excessive. His release is a significant event for Ulbricht’s supporters and those advocating for more balanced legal treatment of innovators in the digital currency.
Conclusion
Ross Ulbricht’s pardon marks a significant moment for the cryptocurrency community, with reactions from leaders like CZ underscoring the broader hope for a more constructive regulatory environment. As celebrations continue, many look toward the future cautiously at other unresolved cases.
