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.

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.