The post Who Will Donald Trump Pardon? There Are Solana Meme Coins for That appeared on BitcoinEthereumNews.com.

Donald Trump is set to return to office on Monday, January 20. In anticipation of the new regime, crypto degens are using Solana meme coins to gamble on who the 47th President of the United States will pardon. Betters on Polymarket, a crypto prediction market, rank Ross Ulbricht, the founder of online black market Silk Road, as the most likely single person to receive a pardon from Trump at 74%. This comes months after the Republican pledged to pardon Ulbricht once in office. Unsurprisingly, the Silk Road founder obviously welcomed the news. As such, a spree of Solana meme coins have been created with degens wagering that their price will soar in value when (or if) Trump follows through with his promise. Solana meme coin Ross Ulbricht (ROSS) was created amid the pardon promise in May, spending most of the year below a $1 million market cap. But in November, when Trump secured victory in the U.S. election, the token went parabolic. It soared more than 3,300% over the following month to a market cap of $15 million. Despite a couple of corrections, the token has continued to climb another 97%, now sitting at a market cap just shy of $30 million. Ulbricht was sentenced to life imprisonment for drug trafficking, computer hacking, and money laundering. These charges were in relation to founding Silk Road, a darknet marketplace that allowed anything to be sold on it which used Bitcoin (BTC) as the primary form of currency. While mostly known for selling illegal drugs, the site also sold legal products like clothing and even had its own book club. As such, there is more than one meme coin dedicated to Ulbricht’s freedom. Free Ross Ulbricht (FREEROSS) has also climbed over 900% to a market cap over $1.5 million since Trump’s victory.…

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Filed under: News - @ January 16, 2025 10:26 pm