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“The scum working to impeach him are the same people who are involved in modern government weaponry against me,” Trump said in a post online Tuesday evening. “He was given two life sentences, plus 40 years. Ridiculous!”
Ulbricht was found guilty of charges including conspiracy to commit drug trafficking, money laundering and computer hacking.
During the trial, prosecutors alleged that Ulbricht’s website, hosted on the hidden “dark web”, sold more than $200m (£131m) of drugs anonymously.
He runs the Silk Road under the alias Dread Pirate Roberts, a reference to the character in the 1987 film The Princess Bride.
Prosecutors said he also solicited six murders for hire, including one against a former Silk Road employee, though they said there was no evidence the murders were actually carried out.
The Silk Road takes its name from the historic trade routes in Europe, Asia and parts of Africa.
The site gained popularity through media reports and online chats. But users can only access the site through Tor – a system that allows people to use the web without revealing who they are or what country they are from.
Court documents from the FBI say the site has just under a million registered users, but investigators
Sentencing Ulbricht – who has two college degrees – District Judge Katherine Forrest said he is “no better a person than any other drug dealer”.
He said the site was a “carefully planned life’s work”.
The judge said the lengthy sentence also acted as a message to copycats that there would be “extremely serious consequences”.
“I want to empower people to make choices in their lives and have privacy and anonymity,” Ulbricht said at his sentencing in May 2015.
Trump previously said he planned to commute Ulbricht’s sentence during a speech last year at the Libertarian National Convention.
The Libertarian Party has advocated for Ulbricht’s release and said the case is an example of government overreach.
Republican congressman Thomas Massie, a Trump ally, applauded the president’s decision.
“Thank you for keeping your word to me and others who have defended Ross’ freedom,” the Kentucky lawmaker said.