Ross Ulbricht’s pardon marks a historic event for crypto, but its impact on Bitcoin’s public image is a mixed bag, according to the community.

Learn about the discovery by a Coinbase exec of 430 Bitcoin associated with Silk Road creator Ross Ulbricht that were untouched for 13 years.

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.

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

Trump pardons Ulbricht, fulfilling a campaign promise. Ulbricht expresses gratitude as supporters rally for his release.

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.

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.

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.

Ulbricht, who used the nom de plume “Dread Pirate Roberts” to hide his identity, was sentenced in 2015 to life in prison.