Despite calls for severe penalties against drug dealers, President Trump pardoned Ross Ulbricht, known for the Silk Road online drug marketplace. Ulbricht has since received significant donations via crypto, with losses amounting to about $12 million from meme coin investments on a platform often criticized for pump-and-dump schemes. While Ulbricht claims he is not associated with any meme coins, his wallets have been involved in a substantial trading blunder, revealing risks inherent in cryptocurrency speculation.
Ulbricht has already lost an estimated $12 million worth of donations on Pump Fun, reflecting the substantial risks involved in trading volatile meme coins.
An anonymous developer gave wallets linked to Ulbricht half of the supply of the meme coin when it was created, leading to massive trading losses.
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