Ross Ulbricht, the dark-web marketplace founder pardoned by United States President Donald Trump, has spoken about his release from prison for the first time.Ulbricht, 40, was sentenced to two life sentences, plus 40 years, in 2015 for running Silk Road, an illicit online market that US prosecutors said facilitated $183m in drug sales using Bitcoin.Trump on Tuesday issued Ulbricht a full and unconditional pardon, fulfilling a campaign promise to libertarians and cryptocurrency enthusiasts who had lobbied for his release.In a video message posted on X on Friday, Ulbricht expressed his gratitude to Trump for granting him clemency.“I was doing life without parole, and I was locked up for more than 11 years but he let me out. I’m a free man now. So let it be known that Donald Trump is a man of his word,” he said.“Thank you so much, President Trump, for giving me this amazing blessing. I am so, so grateful to have my life back, to have my future back, to have a second chance.”Ulbricht said he planned to spend time with his family but would have more to say in the future. Advertisement “This is a victory and it’s your victory, too. And this is an important moment for everybody, everywhere who loves freedom and who cares about second chances,” he said.“It feels amazing to be free, to say the least. It’s overwhelming.” pic.twitter.com/pbqRh9spnk — Ross Ulbricht (@RealRossU) January 24, 2025 Ulbricht’s case had been held up as an example of government overreach by libertarians […]

United States President Donald Trump has pardoned Ross Ulbricht, the imprisoned founder of the dark-web black market Silk Road.Trump said on Tuesday that he had called Ulbricht’s mother to inform her he had signed a “full and unconditional pardon” for her son, who was sentenced to life in prison without the possibility of parole in 2015 for his role in operating the illicit marketplace.“The scum that worked to convict him were some of the same lunatics who were involved in the modern day weaponisation of government against me,” Trump said on his social media platform, Truth Social.“He was given two life sentences, plus 40 years. Ridiculous!”Ulbricht, 40, was convicted of seven counts related to his operation of Silk Road, which facilitated the sale of illegal drugs and other illicit goods using Bitcoin, including distributing narcotics and engaging in a criminal enterprise.US prosecutors alleged that the site had been used to facilitate more than 1.5 million transactions worth approximately $213m, including more than $183m in drug sales. Advertisement Prosecutors also alleged that Ulbricht, who operated under the alias Dread Pirate Roberts, had solicited the murders of people he viewed as threats to his enterprise, though he was not charged over the alleged murder-for-hire plots and no evidence was presented that anyone had actually been killed.Sentencing Ulbricht, US District Judge Katherine Forrest said that the California man’s actions had been his “carefully planned life’s work” and that he was “no better a person than any other drug dealer”.While Ulbricht admitted creating Silk […]

The crypto project connected to United States President Donald Trump, World Liberty Financial (WLF), has raised $1bn in token sales, while a new Trump meme coin also soared to more than $10bn in market value as Trump took office for his second term.WLF made the announcement on Monday, the day Trump was sworn in as president.The boom in Trump-related crypto ventures comes as he promises to usher in a “golden age” for cryptocurrencies, in stark contrast with the regulatory scrutiny of the industry enforced under the administration of former President Joe Biden.WLF, promoted and formed by Trump, his sons and Trump’s new special envoy to the Middle East, Steve Witkoff, was launched two months before the US election.Trump’s new meme coin, branded $TRUMP, was launched on Friday night during the first-ever Crypto Ball in Washington, DC, in conjunction with inauguration festivities. The coin surged on Monday from less than $10 on Saturday morning to as high as $74.59 before giving up some of its huge rise. Advertisement The new coin expanded Trump’s cryptocurrency interests beyond WLF.Melania Trump launched her own coin, $MELANIA, on Sunday. Its rally pushed its market cap well beyond $1bn.Four-fifths of Trump coin’s tokens are owned by CIC Digital, an affiliate of Trump’s business, and another entity called Fight, Fight, Fight, according to its website. It says the coins are “an expression of support for, and engagement with, the ideals and beliefs embodied by the symbol ‘$TRUMP’” and are not an investment or security.The launch of WLF […]

Bitcoin has proven to be one of the best-performing assets in modern history.The value of the cryptocurrency has increased some 1,000 times over the past decade, far outpacing US stocks and real estate. Buoyed by United States President-elect Donald Trump’s crypto-friendly stance, Bitcoin’s record rally hit a new high of $107,000 on Monday after the Republican reiterated his intention to create a Bitcoin strategic reserve.Bitcoin, the first decentralised digital currency, was invented by the pseudonymous figure Satoshi Nakamoto in the wake of the 2007-2008 global financial crisis.Nakamoto introduced the blockchain system – a digital ledger that stores transactions in a network of computers – to enable anyone to make financial transactions without the involvement of banks, financial firms or governments.Once widely derided as a speculative asset with no intrinsic value, Bitcoin is being taken increasingly seriously by governments, financial institutions and investors alike.Boaz Sobrado, a London-based fintech analyst, said Bitcoin has transformed from being a niche asset favoured by political dissidents and criminals carrying out Illicit transactions “to something that central banks have to keep in mind and consider”. Advertisement “The IMF has put very firm anti-crypto political guidelines into place when negotiating with countries that might require its own assistance. It’s gone from being an academic question to a practical, real one and one that central banks are taking very seriously now,” Sobrado told Al Jazeera.Bitcoin’s record rally hit a new high of $107,000 this month [Nicolas Tucat/AFP]In January, the US Securities and Exchange Commission (SEC) approved Bitcoin ETFs […]

Bitcoin’s record rally topped $107,000 after United States President-elect Donald Trump reiterated that he plans to create a US Bitcoin strategic reserve similar to the country’s strategic oil reserve, stoking the enthusiasm of crypto bulls.Bitcoin, the world’s biggest and best-known cryptocurrency, extended gains to a session high of $107,148 and was most recently at $106,877, up 5.43 percent from late Friday. The number two digital currency, Ethereum or Ether, was up 1.85 percent at $3,975.70. “We’re in blue sky territory here,” said Tony Sycamore, an analyst at IG, an online trading provider. “The next figure the market will be looking for is $110,000. The pullback that a lot of people were waiting for just didn’t happen, because now we’ve got this news.”Bitcoin and crypto have been catapulted into the spotlight as investors wager the incoming Trump administration will usher in a friendlier regulatory environment, boosting sentiment around the alternative currency. Bitcoin is up about 150 percent in 2024. Advertisement “We’re gonna do something great with crypto because we don’t want China or anybody else – not just China but others are embracing it – and we want to be the head,” Trump told CNBC late last week.When asked if he plans to build a crypto reserve similar to oil reserves, Trump said: “Yeah, I think so.” He advocated the same move earlier this year.Governments around the world held 2.2 percent of Bitcoin’s total supply as of July, according to data provider CoinGecko, with the US possessing nearly 200,000 Bitcoins valued at more […]

Bitcoin has topped $100,000 for the first time, buoyed by United States President-elect Donald Trump’s decision to nominate a cryptocurrency advocate to lead the country’s securities regulator.The world’s most popular cryptocurrency peaked above $103,000 on Thursday, prompting cheers from crypto enthusiasts, who have seen their holdings more than double in value this year. “What an epic milestone,” Anthony Pompliano, a crypto enthusiast and founder and CEO of Professional Capital Management, said in a video posted on X.(Al Jazeera)“There are so many people around the world who did their homework, they thought independently and critically, and they bought this thing that no one had ever heard of before.”“$100,000 a Bitcoin doesn’t just represent a price,” Dan Held, a well-known crypto investor and enthusiast, said on X.“It represents that the world is gradually acknowledging Bitcoin as the reserve currency of the future. It represents a rejection of the existing financial system. It represents financial freedom.” Advertisement The latest surge comes after Trump named Paul Atkins, who is viewed as an advocate of looser regulation of digital assets, as his pick to lead the Securities and Exchange Commission.In an announcement on Truth Social, Trump described Atkins, the CEO of Patomak Partners, as a “proven leader for common sense regulations”.“He believes in the promise of robust, innovative capital markets that are responsive to the needs of investors, and that provide capital to make our economy the best in the world. He also recognizes that digital assets and other innovations are crucial to making America […]