46% of Last Year’s ICOs Have Failed Already

46% of Last Year’s ICOs Have Failed Already

It has always been assumed that a large number of ICOs will fail, be it at the fundraising stage or when it comes to delivering the actual project. It’s hard to settle on a precise figure, however, as most dubious ICOs don’t exit scam: they slowly tiptoe away, like a sneak thief rather than a smash-and-grab robber. Having completed an extensive study into last year’s crowdsales, news.Bitcoin.com can report that 46% of them are effectively dead already – despite raising over $104 million.

Also read: FBI Arrests Exchange Operator for Lying About 6000 Bitcoin Hack

ICOs Are Even Riskier Than You Think

Given enough time, everything withers and dies, from the most robust institutions to the most popular crowdsales. No one expected all of 2017’s ICOs to last the course. The pace at which they’ve withered and died may come as a surprise though. Tokendata, one of the more comprehensive ICO trackers, lists 902 crowdsales which took place last year. Of these, 142 failed at the funding stage and a further 276 have since failed, either due to taking the money and running, or slowly fading into obscurity. This means that 46% of last year’s ICOs have already failed.

The number of ICOs that are still a going concern is actually even lower. An additional 113 ICOs can be classified as “semi-failed”, either because their team has stopped communicating on social media, or because their community is so small as to mean the project has no chance of success. This means that 59% of last year’s crowdsales are either confirmed failures or failures-in-the-making.

46% of Last Year’s ICOs Have Failed Already
Some of the many failed ICOs listed by Tokendata.

A Digital Graveyard of Broken Promises

Trawling through 900 ICOs in one sitting is a deeply depressing experience, news.Bitcoin.com can report. Abandoned Twitter accounts, empty Telegram groups, websites no longer hosted, and communities no longer tended are par for the course. A digital graveyard, complete with metaphorical tumbleweed, characterizes the crop of 2017 that decided to take the money and run. Many raised zero; some raised a couple of thousand dollars; and a handful raised over $10 million. In each case, the end result was the same though: no MVP, no alpha release, and no contribution to the decentralized web for the betterment of humanity.

Many of the dead ICOs were doomed from the start. It will come as no surprise to learn that projects such as Clitcoin, Neverdie, and Zero Traffic didn’t make it. Some, which fell flat at the fundraising stage, are doing it all over again this year and hoping that 2017’s failure can be written off as a trial run. Freight trucking platform Doft is one such example. Looking at the countries of origin for failed ICOs shows that developing nations – and an entire continent in the case of Africa – are over-represented. Nevertheless, every major country and continent features in the list of shame.

46% of Last Year’s ICOs Have Failed Already

Lessons Learned

Many of the 531 ICOs that have failed or are failing from last year looked sketchy from the very start. In most cases, investors were able to spot the signs and steer clear. Not everyone escaped unscathed though: these projects still raised $233 million between them. With ICO mania showing no signs of abating, there’s no reason to expect this year’s crowdsales to fare any better. Thanks to diminished returns, increased competition, and a never-ending stream of opportunistic ICOs, crypto investing in 2018 is riskier than ever.

Are you surprised by how many of last year’s ICOs have failed already? Let us know in the comments section below.


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Crypto-Backed SALT Claims $1.3 Billion Backlog, Suspends New Memberships

Crypto-Backed SALT Claims $1.3 Billion Backlog, Suspends New Memberships

Secured Automated Lending Technology (SALT) has an enviable problem if its recent Medium post is to be believed. The membership-based crypto-as-collateral loan platform has declared “a demand of over $1.3b in loan requests” is forcing it to suspend “new membership registrations, loan requests, and purchases of SALT.”

Also read: How To Regain Control From Nanny Zuck

SALT Comes to a Halt

Colorado-based SALT has only been around since late 2017, but during that time it claims to have issued “over $23m in blockchain-backed loans.” If that wasn’t enough, “there is still a demand of over $1.3b in loan requests that we are diligently working to address,” a recent communication from the company explained.

Using a member’s cryptocurrency holdings as collateral for cash loans, enthusiasts are able to leverage their gains in decentralized currency markets in the event they’d like to pay off debt or whatever financial spirit moves them. And they’re able to do it without giving up crypto holdings per se.  

Crypto-Backed SALT Claims $1.3 Billion Backlog, Suspends New Memberships

Evidently, it’s catching on. “Due to the enormous demand and loan requests we will be temporarily suspending new membership registrations, loan requests, and purchases of SALT on our platform. Existing members will still be able to deposit SALT on the platform and upgrade their membership in the interim. We plan to begin adding members and turn on all associated features as soon as we have satisfied the automation of our current loan process and have served the current pending loan requests.”

SALT’s business model is essentially larger loans floated by accredited investors; those with a net worth of more than a million dollars or with six-figure salaries. The minimum loan is 5,000 USD, and it does seem to be working well – maybe too well – to the tune of over 60,000 members. 

Alternatives to SALT

“The process of scaling and automating our processes and technology,” SALT continues, “has been progressing well but we’ve recognized an opportunity to focus our team’s time and resources on this important goal and on addressing the existing demand before we continue to add new memberships and loan requests.”

Cypto-Backed SALT Claims $1.3 Billion Backlog, Suspends New Memberships

While SALT figures out how to scale, other lending programs abound within the ecosystem. Coinloan is a crypto asset collateral lending program that offers significantly smaller loans and easier access. Ripio’s RPN Global Lending is more peer-to-peer in its approach. Ethlend of Switzerland works off of the Ethereum blockchain, and touts its decentralized features.

And even though SALT is “temporarily halting these features we will be able to dedicate all of our time and energy on serving those that have been integral to our success thus far, as well as positioning our platform to address the future demand for SALT’s lending platform,” which includes moving into US states such as Arkansas, Delaware, New Jersey, and North Carolina to push commercial loans.

What are your thoughts on crypto loan programs? Let us know in the comments section.


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California Bill Aims to Recognize Blockchain Records

California Bill Aims to Recognize Blockchain Records

The state of California has introduced a new bill that aims to recognize blockchain transactions, digital signatures, and smart contracts as a legal form of record. Assemblyman Ian Calderon introduced Assembly Bill 2658 on February 20 in order to re-define laws that apply to electronic records that take place within the state.  

Also read: Indians Look to Buy Bitcoin Overseas as Regulations Tighten

California State Assembly Person Introduces Blockchain Record Keeping Bill  

California Bill Aims to Recognize Blockchain RecordsAn American lawmaker serving in the California State Assembly in the 57th district, Ian Calderon, wants blockchain records, and smart contracts to be covered under California law. Calderon, a Democrat from the Gateway Cities region, believes these types of records and definitions should be included the California court system. Essentially the bill proposes that records or signatures will not be able to be denied because they are presented in electronic form.

“A record that is secured through blockchain technology is an electronic record,” Assembly Bill 2658 explains.           

A signature that is secured through blockchain technology is an ‘electronic signature’ and also updates the term ‘contract’ to account for smart contracts, or self-executing pieces of code that trigger when certain conditions (like a reaching a particular block number on a blockchain) are met.

Assembly Bill 2658 Will Also Cover Blockchain Storage

California Bill Aims to Recognize Blockchain Records
California’s 57th district democrat, Ian Calderon.

The California State Assembly bill will have to be approved by other state lawmakers alongside Governor Jerry Brown’s signature in order for it to become law. Calderon’s proposal aims to define blockchain storage recorded by blockchain technology as well. However, U.S. agencies can suspend a business licensee that provides electronic records if they failed to comply with certain sections of U.S. money transmission laws.

California’s State Assembly bill is very similar to bills introduced in Arizona, Vermont, and Florida. These three states also have lawmakers proposing new definitions and laws that recognize blockchain transactions, digital signatures, and smart contracts. If Assembly Bill 2658 pushes through California’s legislature and Governor Jerry Brown’s desk then the law will stay in place until January 1, 2021.

What do you think about the proposed bill that’s making its way towards California legislature? Do you think most U.S. states will follow this path? Let us know what you think in the comments below.  


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Four Arrested Following Taiwanese Crypto Robbery

Four Arrested Following Taiwanese Crypto Robbery

Taiwanese police have arrested four men after a bitcoin robbery worth five million Taiwanese dollars (approximately $170,000 USD). The case has been described as the first of its kind in Taiwan by authorities.

Also Read: Bungling Bitcoin Thieves Foiled by Quick-Witted Trader 

Taiwanese Trader Loses 18 Bitcoins in Robbery

Four Arrested Following Taiwanese Crypto RobberyA bitcoin trader with the surname of Tai has become the victim of Taiwan’s first crypto robbery.

Taiwanese Police have stated that three men in their early 20s arrange to meet Mr. Tai in the city of Taichung under the pretext that they were wanting to purchase bitcoins from him. Once Mr. Tai had evidenced that he possessed 18 bitcoin using his phone, the assailants assaulted him and his friend, before taking his and phone transferring 18 bitcoins from his wallet. Taiching city police also stated that the suspects forced Mr. Tai to drink Kaoliang, a strong Taiwanese liquor, in an attempt to have the incident dismissed a drunken argument.

The police arrested one man at the scene of the crime after receiving a call about the incident. The official police statement said that “The police saw bloodstains at the scene…after further investigation, it was discovered to be a bitcoin virtual currency robbery,” adding that case comprised “the first domestic case of bitcoin robbery.”

Incidences of Crypto Robberies on Increase

Four Arrested Following First Taiwanese Crypto RobberyThe two other suspected assailants were arrested later, one of whom was found hiding on the outlying island of Kinmen. The fourth individual, surnamed Shih, was later detained and is accused of being the mastermind behind the robbery.

Last month, three men armed with handguns attempted to rob the office of an Ottawa-based bitcoin exchange, Canadian Bitcoins. Four employees were bound, however an unseen fifth employee was able to contact police, who were able to thwart the robbery. A Russian man holidaying in Phuket, Thailand was also the victim of a crypto robbery last month, after being blindfolded and forced to transfer approximately $100,000 worth of bitcoin to his assailants.

As a cryptocurrency investor, what security precautions do you take? Share your strategies in the comments section below!


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Australia’s Consumer Watchdog Received 1289 Crypto Complaints in 2017

Australis Consumer Watchdog Received 1289 Crypto Complaints in 2017

The Australian Competition & Consumer Commission (ACCC) has revealed that it received more than 1,200 complaints relating to cryptocurrencies via its ‘Scamwatch’ portal during 2017. In light of the number of complaints, the Australian Securities and Investments Commission (ASIC) has issued a warning to potential investors outlining the risks associated with cryptocurrency investment.

Also Read: Tesla Hit by Hackers Who Used its Systems to Mine Cryptocurrency

Australia’s Consumer Watchdog Received 1,289 Complaints Relating to Cryptocurrencies Last Year

Australia's Consumer Watchdog Received 1289 Complaints About Crypto Scams in 2017The Australian Broadcasting Corporation has reported that data obtained from the ACCC indicates that Australian citizens’ losses to cryptocurrency scams totaled $1,218,206 AUD ($955,000 USD approximately) for 2017. The number of complaints received last year has prompted Australia’s corporate regulator, ASIC, to issue a warning to potential cryptocurrency investors.

John Price, the ASIC commissioner, recently described cryptocurrencies as “quite speculative products [that] can be quite high-risk. It’s been quite well documented that some of these products are scams, so please don’t invest unless you’re prepared to lose some or all of your money.”

Increasing Regulation of Australia’s Cryptocurrency Sector

Australia's Consumer Watchdog Received 1289 Complaints About Crypto Scams in 2017From April onward, Australian businesses providing cryptocurrency exchange services will be required to register with AUSTRAC, Australia’s financial intelligence agency, and report information regarding the transactions of their customers.

Under the new legislation, it will be illegal for an “unregistered person” to provide virtual currency exchange services. “Businesses that trade digital currencies for money, and vice versa, will be required to enroll and register with AUSTRAC,” Justice Minister Michael Keenan said in August 2017 during a parliamentary speech regarding the then regulatory proposals.

Angus Taylor, Australia’s new federal minister for cyber security, recently praised the new legislation, stating “We’ve had a lot of cooperation from the cryptocurrencies because they know they need to be legitimate, they know they need to be part of our financial system, and they know they don’t want to be facilitating illegal and criminal activity.”

“We’ve acted early, we’ve acted much earlier than many other countries around the world,” Mr. Taylor added. “Obviously cryptocurrencies are growing, and it’s appropriate that the Government establish a regulatory framework with a particular focus on criminal activity.”

Do you think that cryptocurrency scams warrant further regulatory intervention, or should the onus be placed on investors to conduct proper due diligence? Share your thoughts in the comments section below!


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Robinhood Starts Rolling Out Cryptocurrency Trading Today

Robinhood Starts Rolling Out Cryptocurrency Trading Today

Robinhood has finally launched today its highly anticipated crypto trading for bitcoin and ethereum, allowing its now 4 million investors to trade cryptocurrencies alongside stocks, ETFs, and options on the same platform. The feature is being gradually rolled out to people residing in five American states.

Also Read: Bug at Japanese Government-Approved Zaif Exchange Let Users Get Free Bitcoin

Robinhood Adds Bitcoin and Ether Trading

Robinhood Starts Rolling Out Cryptocurrency Trading Today
The Robinhood in-app feed

Robinhood, the Palo Alto-headquartered US stocks brokerage app, has begun today to gradually enable access to BTC and ETH trading to its customers residing in California, Massachusetts, Missouri, Montana, and New Hampshire. Assuming that the launch will be as successful as expected, the company promises to add in many more states later on.

The service already offers market data on 16 cryptocurrencies in the form of bitcoin, ethereum, bitcoin cash, litecoin, ripple, ethereum classic, zcash, monero, dash, stellar, qtum, bitcoin gold, omisego, neo, lisk and dogecoin. The company also announced today details of Robinhood Feed, a way to discuss cryptocurrencies, news, and market swings in real-time with other investors on the platform. Feed will only be made available to a limited number of platform users right now.

$4 Million Strong

Robinhood Starts Rolling Out Cryptocurrency Trading TodayThe excitement and anticipation about cryptocurrency trading among young Americans has evidently helped the company achieve remarkable growth in a very short time. Soon after Robinhood announced it would add cryptocurrencies, over a million people were waiting in line to get early access to the commission-free trading service. It now boasts of having over 4 million users, up from just 3 million reported in November 2017.

The app team stated today: “Over the past few weeks, we’ve been overwhelmed by the enthusiasm towards Robinhood Crypto and are excited to contribute to the cryptocurrency community in a meaningful way. Together, we reached four million users and well over $100 billion in transaction volume on our brokerage platform, leading to over $1 billion in commissions saved in equity trades. With the release of Robinhood Crypto, we’re continuing our mission of making the financial system work for everyone, not just the wealthy.”

Are you planning to trade bitcoin with Robinhood or are you going to stick with an exchange your used to? Tell us what you think in the comments section below.


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Russian Lawmaker Proposes Legalization of Cryptocurrencies to Attract Investments

Russian Lawmaker Proposes Legalization of Cryptocurrencies to Attract Investments

The head of the Russian State Duma Committee for Economic Policy has proposed legalizing cryptocurrencies in order to attract foreign investments including from countries with anti-Russian sanctions.

Also read: Indians Look to Buy Bitcoin Overseas as Regulations Tighten

Proposal to Legalize Cryptocurrencies

Russian Lawmaker Proposes Legalization of Cryptocurrencies to Attract InvestmentsThe chairman of the State Duma Committee for Economic Policy, Sergey Zhigarev, proposed the legalization of cryptocurrencies at the recent parliamentary hearings in the State Duma on the development of the digital economy, Tass reported on Tuesday.

He believes that it will attract foreign investments, including from countries that have imposed sanctions on Russia. He was quoted saying:

The legalization of digital currencies as a means of payment can help attract investments from foreign countries, including Western ones with sanctions, so we have an instrument that will help us attract the capital we need today.

“There will be a transformation of the whole banking and financial system,” he told other lawmakers, adding that the intermediaries “will disappear, and we need to be ready for this.”

The deputy also noted that soon large companies with their own cryptocurrencies could enter the market, adding that “we will witness the birth of a new market, free and open. It is to be hoped that Russian companies are involved.”

Government’s Monopoly Challenged

Russian Lawmaker Proposes Legalization of Cryptocurrencies to Attract InvestmentsZhigarev explained at the meeting that, for the first time in history, the government’s monopoly on the production of money is under threat. “This is an irreversible process that is difficult to control, only those cryptos that are backed up by some real assets have their prospects,” he asserted.

Earlier this month, the first deputy chairman of the Bank of Russia, Olga Skorobogatova, called cryptocurrency “a dangerous investment instrument because of high volatility,” RNS reported. She emphasized that from the state’s point of view, cryptocurrencies are “extremely dangerous,” stating:

The central bank is against allowing the exchange of cryptocurrency in the territory of Russia and will discuss this issue with the finance ministry.

The Bank of Russia is currently working with the finance ministry and the State Duma to establish the legal framework for cryptocurrencies. Meanwhile, the Ministry of Finance has published a draft bill for the regulation of cryptocurrency.

Zhigarev also pointed out that another challenge for the legalization of cryptocurrencies such as bitcoin is “the lack of an infrastructure for transferring cryptocurrency into [fiat] currency (rubles, dollars, euros, etc.) and back,” Tass conveyed. As an example, he said there are significantly more bitcoin ATMs (BTMs) in the US than in Russia. The BTM tracking website Coinatmradar currently shows 38 BTMs in Russia compared to 1,525 BTMs in the US.

Do you think Russia will allow cryptocurrency to be a legal means of payment? Let us know in the comments section below.


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Bug at Japanese Government-Approved Zaif Exchange Let Users Get Free Bitcoin

Bug at Japanese Government-Approved Exchange Zaif Let Users Get Free Bitcoin

Have you ever dreamed about buying bitcoin for only $1,000, $100 or even just $10? What about a round at $0? Some fast and sharp eyed customers of the Japanese exchange Zaif had this opportunity just last week thanks to a bug in the system. The company isn’t going to let them get away with it however.

Also Read: 66% of Funding to Stop the AI Apocalypse Comes from Crypto Donors

$20 Trillion Glitch

Bug at Japanese Government-Approved Exchange Zaif Let Users Get Free BitcoinZaif, a Japanese bitcoin exchange run by Tech Bureau Corp, has revealed that it had a brief system glitch which allowed clients to trade cryptocurrency for the very affordable price of 0 yen. The glitch, which affected Zaif’s price calculation system, lasted for 18 minutes from 5:40 p.m. to 5:58 p.m. local time on February 16.

The company announced on Tuesday that seven users obtained quantities of cryptocurrencies. One particularity ambitious trader apparently even tried buying bitcoin valued at 2,200 trillion yen (about $20 trillion USD) during the glitch and then quickly attempted to cash it out, according to a report by the second most popular national newspaper in Japan Asahi Shimbun.

The problem was reportedly fixed by 7:34 p.m. that same day. A Tech Bureau official also apologized to investors for the trouble and pledged to take measures to prevent further glitches.

Oops, No Deal!

Bug at Japanese Government-Approved Exchange Zaif Let Users Get Free BitcoinAfter the bug was discovered in the system and the colossal mistake was made clear, Tech Bureau subsequently invalidated the zero cost transactions and returned the users’ balances to their previous states on the platform. However, it was still trying to resolve the issue with one customer who tried to transfer the bitcoins out of the exchange, a company spokesman told Reuters.

Tech Bureau Corp. is now subject to a Financial Services Agency (FSA) investigation into the safety of the system and other business practices. Its Zaif platform is one of only sixteen exchanges that were already fully licensed to offer services in the country by the government and was one of the original eleven venues that the FSA first approved in September of last year. The regulator recently announced that it is inspecting 32 cryptocurrency exchanges, including 16 that have not yet obtained a license but are currently under review.

Should we expect bitcoin exchanges and wallets to be bug-free or are such glitches inevitable? Share your thoughts in the comments section below!


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Islamic Republic of Iran to “Control and Prevent” Growth of Cryptocurrencies

Islamic Republic of Iran to “Control and Prevent” Growth of Cryptocurrencies

جمهوری اسلامی ایران‎ The Islamic Republic of Iran has apparently changed course on cryptocurrency, or perhaps it has clarified its real position previously mischaracterized by the press. It’s increasingly difficult to get a real handle on the official status of crypto in the Persian homeland.  

Also read: How To Regain Control From Nanny Zuck

Iran to Control and Prevent Cryptocurrency

Hamed Jafari reported as soon as two weeks ago, Iran was considering issuing “a local cryptocurrency, a cryptocurrency consortium with specific countries and regulating the already established cryptocurrencies such as bitcoin.” Not more than last week, International Business Times insisted “a half dozen contenders” in Iran were vying to bring the country its first set of initial coin offerings (ICOs).

Indeed, Iran under the weight of international sanctions seems to be a perfect breeding ground for cryptocurrency. Paypal, Mastercard, Visa are all forbidden. Its fiat currency continues to fall against the dollar to all-time lows even as its regime struggled recently to reform interest rates and forgive loans. Crypto might be a way around pretty brutal financial conditions. Reports last year seemed to suggest the country was considering as much.

Islamic Republic of Iran to “Control and Prevent” Growth of Cryptocurrencies
Mohammad-Javad Azari Jahromi

Iran Front Page, however, an independent news aggregation site, is throwing cold water on region some by insisting the Iranian central bank never recognized bitcoin as legal tender. The banker also said it had no intention of “actively facilitating Bitcoin transactions.”

Local Crypto?

Indeed the bank is reported to have explained how “wild fluctuations of the digital currencies along with competitive business activities underway via network marketing and pyramid scheme [tactics] have made the market of these currencies highly unreliable and risky.” Additionally, Iran’s central bank is said to be looking at a way to “control and prevent digital currencies in Iran.”

This doesn’t necessarily mean ICOs can’t take place, and there is plenty of anecdotal evidence Iranians are interested in cryptocurrency even if their government is not. Enthusiasts’ hopes were not entirely dashed as reports also explained the country’s technology minister confirmed rumors about a local cryptocurrency, state backed. Islamic Republic of Iran to “Control and Prevent” Growth of CryptocurrenciesAfter further warning about the “high risks of making investment in” cryptos such as bitcoin, saying Iranians might lose “their financial assets” as a result, “Iran’s [Ministry of Information and Communications Technology (ICT)] Minister Mohammad-Javad Azari Jahromi also declared on Wednesday that Iran’s Post Bank is working on a locally-developed cryptocurrency, which needs to be tested by the ICT ministry.”

What do you think about Iran’s plans? Are they viable? Let us know in the comments section.


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Ross Ulbricht Denied Post-Conviction Relief Extension

Ross Ulbricht Denied Post-Conviction Relief Extension

The man convicted of creating the Silk Road marketplace, Ross Ulbricht, has lost yet another appeal to extend his “post-conviction relief.” Judge Katherine Forrest, the judge who sentenced Ulbricht to a double life sentence in 2015, denied the legal team’s attempt to renew the case even if additional circumstantial evidence is found in the future.

Also read: 30 People Who Were Really Wrong About Bitcoin

The Judge Who Sentenced Ross Ulbricht Throws Down the Hammer Once Again

Ross Ulbricht Denied Post-Conviction Relief Extension
Ross Ulbricht.

This month the Judge who handed down two-lifetime prison sentences to Ross Ulbricht denied yet another appeal from within this ongoing court battle. Ulbricht was convicted in February 2015 for creating and running the underground online marketplace the Silk Road from 2011 to 2013. He is currently serving a double life sentence without the chance of parole for money laundering, conspiracy, computer hacking, and narcotics traffic. Over the past few years, Ulbricht’s family members and his legal team have been trying to appeal the sentence with many attempts to re-open the case. The last undertaking took place last year in the U.S. Court of Appeals for the Second Circuit, and the panel of Judges denied the appeal.

Motion Denied

Now, according to court documents obtained by the Ars Technica columnist Cyrus Farivar, three years later Judge Katherine Forrest is throwing her judgment down again towards the convicted Silk Road creator. Ulbricht’s new lawyer, Paul Grant, tried to extend the fixed three year period with a motion called “Rule 33.” This means that when Ulbricht was sentenced three years ago, there would be a period of time that could be extended if circumstantial evidence was found.

“The motion to extend time for a Rule 33 motion is DENIED,” Judge Forrest explains in her recent notes. “A Rule 33 motion is not an opportunity to relitigate that which has been litigated, or to engage in a fishing expedition for new evidence.”

The Court appreciates that Mr. Grant was not involved in the trial, but the transcript reveals that the very evidence to which he now points (that the FBI was monitoring the defendant’s online movements) was explicitly known at the trial.

Ross Ulbricht Denied Post-Conviction Relief Extension
Judge Forrest’s notes denying the Rule 33 motion.

Petitioning the Highest Court System

The denial is not Ulbricht’s last chance as he still has a petition with the Supreme Court that was filed late last year. Justices from the high court will hear a response from federal prosecutors in a few weeks, and they will deliberate on whether or not the case should be renewed. The Petition for Writ of Certiorari is asking the Supreme court Justices to “review and reconsider the lower courts’ decisions, based on constitutional violations in the investigation and at sentencing.”  

On February 5, 2018, twenty-one organizations recorded five amicus briefs endorsing the Supreme Court petition. Groups in the amicus briefs include the American Black Cross, the Downsize DC Foundation, the Law Enforcement Action Partnership, the Drug Policy Alliance, the Cato Institute and more.       

What do you think about Judge Forrest’s decision to deny Ross Ulbricht an extension? Let us know what you think in the comments below.


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