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

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.

President Donald Trump said Tuesday he is pardoning Ross Ulbricht, a Bitcoin pioneer and creator of the Silk Road marketplace that enabled the selling and buying of illicit substances on the dark web.

Donald Trump has granted a full pardon to Ross Ulbricht, the founder of online drug marketplace Silk Road who became a hero for America’s libertarian movement.

In 2015, a 31-year-old yoga enthusiast from Austin named Ross Ulbricht was found guilty of being the online drug kingpin “Dread Pirate Roberts.” Convicted on 7 counts, the judge sentenced him to life in prison. Trump pardoned Ulbricht on Tuesday and now he’s a free man after more than 10 years in custody.

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.

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

Ulbricht was sentenced to life in prison in 2015 on charges related to his website, where users could buy and sell drugs and other illegal goods with bitcoin.

The crypto market celebrated two big wins on Wednesday following a US court's overruling of the OFAC's sanction against crypto mixing protocol Tornado Cash. Likewise, President Donald Trump signed an official pardon freeing Ross Ulbricht.

Elon Musk said Tuesday he was exploring a presidential pardon for "Bitcoin Jesus" Roger Verg, who was arrested last year on fraud and tax evasion charges.

Crypto exchange Kraken disclosed on X that it has made a donation to the newly freed Ross Ulbricht to help the Silk Road founder land on his feet. The exchange sent $111,111 in Bitcoin (BTC) to the address on freeross.