Silk Road
Coverage of Silk Road in the Nexus archive.
- Dan Loeb Reveals DOJ Threat to Trump Over Ross Ulbricht Commutation in Final Hours of First Term
Hedge fund manager Dan Loeb claims the Department of Justice threatened President Donald Trump in January 2021, warning it would 'go after' him if he commuted Ross Ulbricht's sentence. Trump later withdrew the commutation, which was eventually granted in January 2025 during Trump's second term. Ulbricht, creator of the Bitcoin-based Silk Road marketplace, was serving a double life sentence plus 40 years for charges including narcotics distribution and hacking.
- US Strategic Bitcoin Reserve Bill Reintroduced In Congress As ARMA With 20-Year HODL Requirement
Representative Nick Begich introduced the American Reserve Modernization Act (ARMA) in Congress, which would establish a U.S. Strategic Bitcoin Reserve requiring the federal government to hold Bitcoin for at least 20 years and acquire up to one million BTC over five years. The legislation codifies President Trump's March 2025 executive order and would apply to Bitcoin already held by the government from criminal cases like Silk Road and Bitfinex seizures.