Former President Donald Trump has announced his intention to commute Ross Ulbricht’s life sentence to time served. Ulbricht, the mastermind behind the first major Bitcoin marketplace, Silk Road, was sentenced to life in prison without parole nine years ago. Trump's pro-crypto stance has rekindled debates about the financial power of cryptocurrencies and the maturation of the Bitcoin narrative. In response, President Joe Biden's re-election campaign has begun reaching out to key figures in the cryptocurrency industry, seeking guidance on crypto community and policy moving forward. This outreach indicates a shift in tone from the Biden administration as it seeks to address the growing influence of the crypto community before the election.