US President Donald Trump has pardoned Silk Road founder Ross Ulbricht.
Ulbricht was sentenced to life in prison for running an underground online marketplace where drug dealers and others conducted over US$200 million ($319 million) in illicit trade using bitcoin.
The Republican president made good on a campaign pledge to free Ulbricht, 40, who was arrested in 2013 and jailed in 2015 in what became a landmark US prosecution launched only a few years after the emergence of the popular cryptocurrency.
"The scum that worked to convict him were some of the same lunatics who were involved in the modern day weaponization of government against me," Trump said in a post on his social media platform Truth Social.
Trump said the pardon was "full and unconditional." He said he called Ulbricht's mother to break the news to her on Tuesday local time. Ulbricht has been imprisoned at a federal prison in Arizona and it was unclear when he would be released.
Ulbricht's lawyer, Joshua Dratel, said he was "extremely gratified that an injustice has been corrected." He said the pardon ensured Ulrbicht "can have a life ahead of him to be the productive person he could have been all these years."
Trump had announced plans to commute Ulbricht's sentence in May during a speech at the Libertarian National Convention. The Libertarian Party, which has advocated for drug legalisation, had pushed for Ulbricht's release, calling the case an example of government overreach.
Trump's administration is expected to significantly reverse course on what had been a crackdown by regulators on the cryptocurrency sector during Democratic former president Joe Biden's tenure.
Ulbricht's arrest brought to an end what prosecutors described as a global black market bazaar that for two years starting in 2011 was used by more than 100,000 people to buy and sell US$214 million ($341 million) worth of illegal drugs and other illicit services.
Prosecutors said some people died due to drugs bought on Silk Road.
What was Silk Road and how did it work?
The Silk Road website relied on the Tor network to communicate anonymously and accepted bitcoin as payment, which prosecutors said allowed users to conceal their identities and locations.
Prosecutors said Ulbricht ran Silk Road under the alias Dread Pirate Roberts, a reference to a character in the 1987 movie The Princess Bride, and took extreme steps to protect the marketplace's operation.
Those steps, they said, included soliciting the murders of several people who posed a threat, though they also said no evidence exists that any murders were actually carried out.
Members of the US Libertarian Party stood on chairs while chanting and demanding the release of Ross Ulbricht during the party's national convention in May last year. Source: Getty / Chip Somodevilla
A federal jury in Manhattan in February 2015 found Ulbricht guilty of charges including distributing drugs through the internet and conspiring to commit computer hacking and money laundering.
