Key facts
- The U.S. Senate unanimously passed a resolution opposing any presidential pardon or commutation for FTX founder Sam Bankman-Fried.
- The resolution was led by Senators Cynthia Lummis and Ruben Gallego, highlighting Bankman-Fried's conviction for financial fraud.
- Sam Bankman-Fried was convicted in 2023 on seven counts related to the collapse of FTX and the loss of over $8 billion in customer funds.
- Todd Blanche, President Trump's nominee for Attorney General, faced scrutiny during his Senate confirmation hearing regarding crypto enforcement and the pardon of Changpeng Zhao.
- Democrats questioned officials about subpoenas issued to New York Times journalists during the hearing.
The U.S. Senate has unanimously passed a resolution opposing any presidential pardon or commutation for FTX founder Sam Bankman-Fried, underscoring lawmakers' view of his role in what prosecutors described as one of the largest financial frauds in U.S. history. The bipartisan measure, led by Senators Cynthia Lummis and Ruben Gallego, emphasizes that Bankman-Fried should "under no circumstances" receive clemency.
Bankman-Fried, convicted in 2023 on seven counts related to FTX's collapse and the loss of more than $8 billion in customer funds, is not eligible for release until around 2044. President Donald Trump has previously stated he has no plans to pardon Bankman-Fried, though he has pardoned other white-collar offenders.
Separately, Todd Blanche, Trump's nominee for Attorney General, faced scrutiny during his Senate confirmation hearing. Senator Dick Durbin questioned Blanche about his past work on cryptocurrency enforcement and his involvement concerning the pardon of former Binance CEO Changpeng Zhao. The hearing also touched upon Blanche's ties to Donald Trump, Epstein files, and a nullified tax settlement. Additionally, Democrats questioned Blanche and a U.S. attorney regarding subpoenas issued to New York Times journalists.