Trump Pardons Silk Road Founder, Sparks Debate

Former U.S. President Donald Trump pardoned Ross Ulbricht, founder of Silk Road, who was serving a life sentence for operating an illicit online marketplace using bitcoin transactions. His release follows significant pressure from the Libertarian Party and marks a shift from previous regulatory stances on cryptocurrency.

In a controversial move, former U.S. President Donald Trump has pardoned Ross Ulbricht, the founder of Silk Road, an online marketplace involved in over $200 million of illicit trade using bitcoin, bringing his life sentence to an end. Arrested in 2013, Ulbricht has been serving time since 2015.

Trump accused the individuals involved in Ulbricht's conviction of abuses similar to those he claims were directed against himself, touting the pardon as "full and unconditional". Trump's administration had promised to backtrack on previously stringent cryptocurrency regulations, taking steps to commute Ulbricht's sentence as declared at the Libertarian National Convention.

The Silk Road operated in the shadows of the Tor network, allowing users to conduct illegal trades anonymously via bitcoin. Though Ulbricht admitted to being its creator, he claimed he transferred control to others, serving as an inadvertent scapegoat. With this pardon, Ulbricht is poised for a second chance at life.

(With inputs from agencies.)