The United States Senate has unanimously approved a resolution opposing any presidential pardon or commutation for former FTX CEO Sam Bankman-Fried, sending a strong bipartisan message that the convicted fraudster should serve his full sentence. The nonbinding measure passed with no opposition.
The resolution, introduced by Senators Cynthia Lummis and Ruben Gallego, states that Bankman-Fried should under no circumstances receive clemency. The vote comes as prediction markets put the odds of a Trump pardon by July 31 at below 1 percent, reflecting widespread skepticism that the president would intervene in the case.
Bankman-Fried was convicted in 2023 on multiple counts of fraud and conspiracy related to the collapse of FTX, which at its peak was one of the worlds largest cryptocurrency exchanges. He was sentenced to 25 years in prison. The scale of the fraud, which involved the misappropriation of billions of dollars in customer funds, has made his case a symbol of the excesses and risks of the unregulated crypto industry.
President Trump has previously pardoned former Binance CEO Changpeng Zhao, who pleaded guilty to money laundering violations, a move that drew criticism from some lawmakers and contributed to concerns that the administration might also consider clemency for Bankman-Fried. The Senates unanimous vote is a clear signal that such a move would face intense bipartisan opposition.
The resolution also coincides with broader efforts to advance the CLARITY Act, the comprehensive crypto market structure bill currently before the Senate. Lawmakers have been working to resolve disagreements over ethics provisions that have slowed the bills progress ahead of the August recess.
This article was adapted from Cointelegraph. Read the original here.
