The United States Senate has voted unanimously in favor of a nonbinding resolution opposing any presidential pardon or commutation of sentence for Sam Bankman-Fried, the convicted founder of the collapsed FTX cryptocurrency exchange. The resolution passed with bipartisan support, sending a clear signal to the White House that Congress strongly opposes leniency in the case.
The resolution states that Bankman-Fried should “under no circumstances” receive clemency, reflecting the severity with which lawmakers view his crimes. Bankman-Fried was convicted on multiple counts of fraud and conspiracy related to the misuse of billions of dollars in customer funds at FTX, one of the largest financial frauds in modern history.
The Senate action comes amid broader discussions about cryptocurrency regulation and the need for stronger consumer protections in digital asset markets. While the resolution is not legally binding, it carries significant political weight and would make any future pardon attempt politically costly for the administration.
Bankman-Fried was sentenced to 25 years in federal prison after a jury found him guilty of orchestrating a scheme that commingled FTX customer deposits with funds from his hedge fund, Alameda Research. The collapse of FTX in November 2022 triggered a cascade of bankruptcies across the crypto industry and led to losses estimated at over $8 billion for customers and investors.
The unanimous Senate vote reflects the lasting impact of the FTX scandal on Washington’s perception of the cryptocurrency industry and underscores the political sensitivity surrounding any suggestion of leniency for financial fraudsters.
This article was adapted from Decrypt. Read the original here.
