President Trump said he granted the full pardon in honor of Ross Ulbricht's mother "and the Libertarian Movement, which supported me so strongly."

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

President Donald Trump pardoned Ross Ulbricht, the creator of the drug marketplace Silk Road who is revered by many cryptocurrency enthusiasts and Libertarians. “I just called the mother of Ross William Ulbright to let her know,” Trump wrote in a post on Truth Social, misspelling Ulbricht’s name.

Donald Trump announced on Tuesday that he has pardoned Ross Ulbricht, the founder of Silk Road, an underground website for selling illegal drugs and other contraband goods like hacking equipment and stolen passports.

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.

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.

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.

President Trump did not pardon or commute the prison sentence of Silk Road founder Ross Ulbricht, despite his promise on the campaign trail to commute his sentence on "day one."

The Libertarian Party is urging President Donald Trump to follow through immediately on his campaign promise to commute the life sentence of “Silk Road” website creator Ross Ulbricht on the first day of his presidency.

Elon Musk and two prominent libertarians have said Donald Trump's team has confirmed Ross Ulbricht will be freed as early as this week, seemingly affecting Bitcoin's price positively.