Key facts
- The US Senate unanimously passed a resolution opposing executive clemency for FTX founder Sam Bankman-Fried.
- The nonbinding resolution, S. Res. 772, was introduced by Senators Ruben Gallego and Cynthia Lummis.
- The measure affirms the Senate's commitment to the rule of law and the integrity of the U.S. financial system.
- Sam Bankman-Fried was convicted of fraud and conspiracy charges related to FTX's collapse and sentenced to 25 years.
- Prediction markets assign less than a 1% chance of President Trump pardoning Bankman-Fried by July 31.
The U.S. Senate has unanimously adopted a resolution, S. Res. 772, opposing any executive clemency for FTX founder Sam Bankman-Fried. The nonbinding measure, agreed to by unanimous consent, states that Bankman-Fried should not receive a presidential pardon or sentence commutation. It affirms the Senate's commitment to the rule of law and the integrity of the U.S. financial system following his conviction on fraud and conspiracy charges related to FTX's collapse.
The resolution, introduced by Senators Ruben Gallego and Cynthia Lummis, with Sen. Bernie Moreno joining as a cosponsor, cannot legally block a presidential pardon but reflects bipartisan opposition. Bankman-Fried was sentenced to 25 years in federal prison in March 2024. Speculation about a potential pardon grew after he applied for clemency from President Donald Trump. However, prediction markets currently assign less than a 1% chance of a pardon by July 31, with over $734,000 in trading volume on Polymarket.