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?

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.

A fundraiser for the founder of the world’s first darknet black market Silk Road saw more than a quarter million dollars of donations.

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

Law enforcement said Ulbricht created the “most sophisticated and extensive criminal marketplace” on the internet.

President Donald Trump pardoned the founder of darknet marketplace Silk Road, he said in a post to Truth Social on Tuesday night.

Console Wars’ duo Jonah Tulis and Blake J. Harris have conducted more than 60 hours of interviews with Ulbricht, who became a cause célèbre among libertarians and cryptocurrency enthusiasts after being handed two life sentences.

Libertarian activists, who generally oppose criminal drug policies, argued the government overreached in building its case against Ross Ulbricht and the dark web marketplace Silk Road.

Ulbricht, 40, was about 10 years into his life sentence for helming an online black market where drug dealers, money launderers, and traffickers used bitcoins to mask more than $214 million in illicit trades. (Ars thoroughly documented the Silk Road saga here .)

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.

Donald Trump has given a full pardon to Ross Ulbricht — the man responsible for founding world's first darknet market Silk Road.

Silk Road founder Ross Ulbricht, who was given two life sentences in 2015, thanks President Donald Trump for giving him a "second chance" with unconditional pardon.