Ulbricht, who was convicted of running an anonymous online drug marketplace, became a hero to crypto-holders everywhere. What does his pardon signal for the future of the technology?

Bitcoiners celebrate as the pardon came hours after Senator Rand Paul sent a compelling letter to the White House.

After former President Donald Trump released Silk Road founder Ross Ulbricht from prison, the Bitcoin community donated cryptocurrencies to support Ulbricht’s FreeRoss.org fund. While many have donated money to Ulbricht since his release from federal prison after running Silk Road, many questions persist about his financial needs.

Silk Road founder Ross Ulbricht is free after President Donald Trump pardoned him. But who is he and what did he do?

President Donald Trump granted a pardon to Silk Road marketplace founder Ross Ulbricht, a promise he made to the cryptocurrency industry during his campaign.

Wallets belonging to Ross Ulbricht, the imprisoned creator of the illegal drug marketplace Silk Road, were discovered on Wednesday, containing as many as 430 Bitcoin (CRYPTO: BTC) unmoved for over 13 years.

Ross Ulbricht, the creator of the Silk Road darknet marketplace, remains a controversial figure in cryptocurrency history. While his role in revolutionising Bitcoin’s use has long been debated, recent developments have brought his name back into the spotlight.

Bitcoin is up nearly 5% after Donald Trump granted a full and unconditional pardon to Ross Ulbricht, the creator of darkweb marketplace Silk Road.

On Wednesday, the price of bitcoin jumped to more than $104,000, following Donald Trump’s announcement of a presidential pardon for Silk Road and bitcoin-libertarian folk hero Ross Ulbricht. The digital asset community also eagerly anticipated a flood of crypto executive orders that would overturn years of perceived regulatory slights.

Ross Ulbricht was serving a life sentence for creating a site in a shady corner of the internet to sell heroin, cocaine and other illicit substances.

Fulfilling a campaign promise to libertarians and the bitcoin community, the Silk Road founder's life sentence without parole is now over.

U.S. President Donald Trump on Tuesday pardoned Silk Road founder Ross Ulbricht, who was sentenced to life in prison for running an underground online marketplace where drug dealers and others conducted more than $200 million in illicit trade using bitcoin.