Crypto fans hopeful thanks to Ulbricht news and SEC appointment

Renewed hope in the crypto world after US President Donald Trump signed a decree ordering the release of Silk Road founder Ross Ulbricht. The appointment of Hester Pierce, nicknamed “crypto mom” by crypto fans, to lead the SEC task force to investigate regulations for digital currencies was also cause for celebration. Still no news about a ‘strategic Bitcoin reserve’ though.

Coinbase CEO, visiting the World Economic Forum in Davos, still expects it to happen though.

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At the time of writing, Bitcoin is trading at a price of $102,000.

Ulbricht

The world press discovered once again who Ross Ulbricht was yesterday after Donald Trump kept his promise made last year and released the founder of the Silk Road website (which was actually the first real use case for Bitcoin), from prison.

So today:

• Trump gives Ross Ulbricht a full pardon as promised
• The SEC launched a crypto task force headed by crypto-friendly Hester Pierce aimed at developing a clear regulatory framework for crypto
• Crypto dot com relaunched its US exchange due to regulatory optimism… pic.twitter.com/3hz3rOGZzm

— TylerD 🧙‍♂️ (@Tyler_Did_It) January 22, 2025

Crypto fans generally agreed that Ulbricht’s sentence was too severe for the crime he committed. Even though the website was mainly used to sell drugs and other illegal substances, the impression was given that the classical financial world wanted to send a signal that websites that did not require payment with their products (bank cards or bank accounts) were not allowed to operate without their consent.

SEC

Secondly, the appointment of Hester Pierce, also known as ‘crypto mom’, to lead a special task force within the SEC that will deal with crypto regulations was appreciated by fans of digital coins.

Pierce has long been a voice of reason within the organization of the American stock exchange watchdog who believes that there should be clear rules for crypto. She is expected to propose a plan to the Trump administration by the summer.