Donald Trump · DOJ · DAN (Do Anything Now) · White House · Bitcoin · Bitcoin Magazine
Dan Loeb Reveals DOJ Threat to Trump Over Ross Ulbricht Commutation in Final Hours of First Term
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Hedge fund manager Dan Loeb has publicly claimed that the Department of Justice threatened President Donald Trump in the final hours of Trump’s first term in January 2021, warning it would “go after” him if he commuted the sentence of Ross Ulbricht, creator of the Bitcoin-powered Silk Road marketplace.
Key facts
- Rosen served as Acting Attorney General after William Barr’s departure in late December 2020
- Ulbricht had been serving a double life sentence plus 40 years following his 2015 conviction on charges including operating a continuing criminal enterprise, narcotics distribution via the internet
- The Office of the Pardon Attorney, a DOJ unit that reviews clemency petitions and issues recommendations, operated under their oversight
- Loeb, founder and CEO of Third Point LLC, made the revelation on the All-In Podcast while discussing his role in criminal justice reform and Ulbricht’s clemency efforts
Summary
Loeb, founder and CEO of Third Point LLC, made the revelation on the All-In Podcast while discussing his role in criminal justice reform and Ulbricht’s clemency efforts. This account is the first public report of such a direct threat from the DOJ during the closing days of Trump’s first presidency. Rosen served as Acting Attorney General after William Barr’s departure in late December 2020. The alleged threat appears to have gone well beyond typical DOJ advisory input on issues such as sentence proportionality, victim impact, or enforcement priorities.