One of the most successful investors in the world is calling for the release of convicted criminal Ross Ulbricht. Ulbricht is serving a life sentence for his role in creating and maintaining the notorious marketplace that operated on the dark web and used cryptocurrency transactions to let people buy and sell contraband.
When the FBI shut the operation down, Draper famously bought the nearly 30,000 BTC that had been seized. It seems Ulbricht has been close to his mind ever since.
Following up on a September 21 tweet by Tim Draper that was completely sympathetic to the imprisoned Silk Road creator, Fred Schebesta of the Crypto Finder video podcast took a moment to ask the billionaire his latest feelings on the matter.
Draper gave an effusive response:
Free Ross, baby! Get him out. We need entrepreneurs like that guy! Get him out of jail! Why do we put these really extraordinary people in jail? We need their minds, their energy, their life force. Get him free. Who knows what else he could’ve come up with?
“I get that he’s got to be an example, and he stepped over the line”, Draper continued, “but he’s been in jail for a while. Get him out. I cry when my cat goes into a cage, it tears my heart out when these prisoners go into cages.”
Bitcoin News Summary – August 12, 2019
Binance clients take note; it appears that KYC data from around 10,000 users have been stolen from the exchange and leaked online. The hacker was attempting to blackmail Binance for 300 BTC or would otherwise release the users’ photos. Binance refused to comply with the blackmail demands. The exchange has offered a 25 BTC reward for info on the attacker.
British tax authority sent demands for customer information to major UK-based crypto exchanges, including Coinbase, CEX.IO, and eToro. The agency is looking for client names and transaction records as it seeks unpaid taxes. This move echoes the letters sent directly to customers by America’s IRS in July.
South Korea’s government is taking a more active role in crypto regulation. The country’s Financial Services Commission plans to directly oversee the nation’s crypto exchanges by introducing a new system of licenses.
Blockstream, the Bitcoin-focused tech company revealed it runs two major mining facilities in Canada and the US. Together, their data centers have 300 megawatts of power and host mining operations for financial giant, Fidelity, and LinkedIn founder, Reid Hoffman. Blockstream plans to host more mining partners in future.
And finally, currently, Bitcoin ranks 11th out of all global currencies in terms of base money supply. “Base money” refers to physical notes and coins only. Bitcoin’s market cap is higher than the South Korean Won and the Australian or Canadian Dollar.
