Trump Pardons Ross Ulbricht, Bitcoin Community Celebrates

Trump Pardons Ross Ulbricht, Bitcoin Community Celebrates

President Donald Trump granted a full and unconditional pardon to Ross Ulbricht, the creator of the Silk Road marketplace. Ulbricht, who was serving two life sentences plus 40 years for operating the darknet market, was released after over a decade in prison.

The pardon was widely celebrated within the Bitcoin community, which had long campaigned for his release. Bitcoin historian Pete Rizzo declared January 21 as “Ross Ulbricht Freedom Day,” while the Free Ross campaign account expressed gratitude, saying, “President Trump is a man of his word.”

Ulbricht’s Silk Road, launched in 2011, was Bitcoin’s first major use case, according to Bitcoin Magazine, showcasing the potential of decentralized, censorship-resistant money. While the marketplace facilitated illegal trade, it also highlighted BTC’s ability to support autonomous peer-to-peer transactions.

The pardon has sparked speculation about Trump’s pro-crypto agenda, including a potential strategic Bitcoin reserve. Coinbase executive Conor Grogan revealed 430 BTC linked to Ulbricht, now worth $47 million, while US authorities previously confiscated over 170,000 BTC, valued at over $17 billion at today’s prices, from Silk Road operations.

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Uniswap Version 4 Rolls Out This Week for Developers

Uniswap Labs announced that version 4 of its protocol would begin rolling out this week for developers to test hooks and integrations, with all contracts expected to be fully deployed by next week. The new version builds on the capital efficiency of v3, introducing advanced features such as a “singleton” liquidity architecture to consolidate liquidity and reduce transaction costs.

Another key upgrade is the introduction of customizable “hooks,” allowing developers to modify liquidity pool functions to suit specific needs. Additionally, a new “flash accounting” system will minimize asset transfers during swaps, cutting gas fees considerably. Originally slated for release in 2024, Uniswap v4 faced delays due to extensive code audits and security reviews.

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BlackRock CEO Larry Fink Envisions $700K Bitcoin Potential

BlackRock CEO Larry Fink suggested that Bitcoin could reach as high as $700,000 if global investors allocated 2% to 5% of their portfolios to the cryptocurrency. Speaking at the World Economic Forum, Fink noted that sovereign wealth funds have already begun discussing such allocations, signaling growing institutional interest in Bitcoin.

Despite his bullish projection, Fink clarified, “I’m not promoting it by the way. That is not my promotion.” His perspective on BTC has shifted dramatically in recent years, with BlackRock launching the iShares Bitcoin ETF in 2024, which now manages nearly $57 billion. Fink also highlighted Bitcoin as a hedge for individuals in countries facing economic instability or currency debasement.

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Telegram Exclusively Adopts Toncoin for App Services

Telegram has announced that it will exclusively support The Open Network (TON) blockchain for its Mini Apps ecosystem, with Toncoin becoming the only cryptocurrency accepted for in-app payments and services. The transition solidifies Telegram’s partnership with the TON Foundation, with the messaging platform integrating Toncoin for features like Telegram Premium, ads, and Gateway.

Manuel Stotz, TON Foundation’s president, said, “The re-energized, deepened, and exclusive partnership with Telegram is an important step in our roadmap." Telegram's decision to exclude all blockchains other than TON from its in-app services came soon after Hamster Kombat, one of Telegram's most popular Mini Apps, revealed plans to launch its own blockchain network on January 15.

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Data of the Day

Crypto apps including Moonshot, Coinbase, and Crypto.com now dominate the finance category on Apple’s US App Store following the recent surge in digital asset trading. The rankings skyrocketed thanks to the launch of Donald Trump’s official memecoin, which peaked at a $14.5 billion market cap.

Moonshot, a Solana self-custodial wallet that facilitates memecoin purchases via Apple Pay, skyrocketed from 309th to the top of the finance category in just three weeks. Other crypto-related apps like Binance.US and DEX Screener also climbed in popularity.

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More Breaking News

• AI16Z and ARC jumped over 30%, driven by news of Trump's $500bn AI investment plan and rollback of Biden's AI regulation.
• Jupiter began its $616 million “Jupuary” airdrop, distributing 700 million JUP tokens to over 2 million eligible wallets on Solana.
• Solana validators earned over $25 million in fees from TRUMP and MELANIA token trading, boosting staker rewards to 7.14% annually.
• A Texas court overturned Tornado Cash sanctions, ruling its immutable smart contracts aren’t “property,” driving TORN up over 200%.
• Lido co-founder proposes a "Second Foundation" for Ethereum as Vitalik Buterin's restructuring plan sparks decentralization debates.
• Dogecoin dropped after Elon Musk's DOGE agency removed meme imagery, erasing gains from a brief price pump earlier this week.
• Hong Kong’s Legislative Council discussed a stablecoin bill requiring issuers to maintain high-quality reserves and obtain HKMA licenses.
• Ethereum layer 2 SOON raised $22 million via an NFT sale for its mainnet launch, boasting faster block times than Solana.
• Crypto.com launched its institutional-grade exchange again in the US, offering over 300 cryptocurrencies and complementing its retail-focused app.

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