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?

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?

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.

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

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.