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Ross Ulbricht, founder of the infamous darknet marketplace Silk Road, recently marked a decade in prison, reigniting debates over the fairness of his double life sentence. Supporters argue that his punishment doesn't align with his crime, pointing out that individuals guilty of more serious offenses have had opportunities for redemption. Over 250 organizations advocate for Ulbricht's release, and he has gained backing from the crypto and Bitcoin communities, some of whom refer to him as a "Bitcoin political prisoner." However, others argue that Ulbricht's prosecution involved allegations of hiring hitmen to commit murder, although he was not formally charged with these crimes. They also highlight the negative aspects of Silk Road, such as its involvement in sex trafficking and illegal drug trade. The controversy surrounding Ulbricht's case is intensified by comparisons to sentences given to others linked to Silk Road, with advocates for his freedom highlighting that the average sentence for those involved is about six years.

Ross Ulbricht, founder of the infamous darknet marketplace Silk Road, recently marked a decade in prison, reigniting debates over the fairness of his double life sentence. Supporters argue that his punishment doesn't align with his crime, pointing out that individuals guilty of more serious offenses have had opportunities for redemption. Over 250 organizations advocate for Ulbricht's release, and he has gained backing from the crypto and Bitcoin communities, some of whom refer to him as a "Bitcoin political prisoner."

However, others argue that Ulbricht's prosecution involved allegations of hiring hitmen to commit murder, although he was not formally charged with these crimes. They also highlight the negative aspects of Silk Road, such as its involvement in sex trafficking and illegal drug trade. The controversy surrounding Ulbricht's case is intensified by comparisons to sentences given to others linked to Silk Road, with advocates for his freedom highlighting that the average sentence for those involved is about six years.

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Monochrome Asset Management, an Australian investment firm, is set to launch the country's first spot Bitcoin exchange-traded fund (ETF) on May 4, 2024. The Monochrome Bitcoin ETF (IBTC) will be the first fund in Australia to directly hold BTC and is expected to be listed on the Cboe Australia exchange on June 4. The firm will implement a strictly passive buy-and-hold investment strategy for Bitcoin, without using derivatives, leverage, or short selling. Monochrome applied to launch IBTC in April, amid the growing popularity of the U.S. spot Bitcoin ETF market. The firm had previously received approval to launch a spot Bitcoin ETF in August 2022, which was intended to give investors direct exposure to BTC, ether, and other cryptocurrencies. The launch of IBTC is significant as it offers Australian investors a regulated way to tap into the potential of the Bitcoin market. Monochrome's CEO, Jeff Yew, emphasized that unlike other Bitcoin ETFs, IBTC benefits from the investor protection rules under the directly held crypto Australian Financial Services (AFS) licensing regime. This development is part of a global trend, with several other countries approving the listings of spot Bitcoin ETFs, offering investors direct exposure to the cryptocurrency. The success of the first wave of ETFs launched in the United States earlier this year has triggered a wave that is spreading across regions like Hong Kong. This positive trend is expected to continue, with more countries likely to approve similar products in the coming months.
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