The US Senate has passed a resolution opposing a pardon for former FTX CEO Sam Bankman-Fried, a convicted crypto executive in one of the industry’s biggest busts.
The Senate unanimously agreed to a straightforward resolution (S. Res. 772) containing a non-binding measure declaring that Bankman-Fried should not receive executive clemency, According to to Wednesday’s entry X published by the Senate Press Gallery.
The resolution reaffirmed the Senate’s commitment to the rule of law and the integrity of the U.S. financial system following Bankman-Fried’s conviction on fraud and conspiracy charges related to the collapse of FTX.
The measure cannot block a presidential pardon, but it reflects bipartisan opposition in the Senate after Bankman-Fried asked President Donald Trump for an executive clemency.
The Senate is considering but cannot block the pardon
Introduced on June 17 by Senator Ruben Gallego, with Senator Cynthia Lummis as co-sponsor, S. Res. 772 opposes any form of federal pardon for Bankman-Fried, including a presidential pardon or commutation of his sentence.
Unlike legislation, a straightforward Senate resolution does not require the consent of the House or the President and has no legal force, According to to the Senate’s “Types of Legislation” guide.
Source: Senate Press Gallery
Congress.gov hasn’t done this yet reflected last floor action at time of publication.
Related: FTX executive’s wife scheduled for November trial on campaign finance charges
Senator Bernie Moreno of Ohio joined on Tuesday as a co-sponsor, adding Republican support for the bipartisan measure.
Forecast markets see no chance for a pardon
Bankman-Fried was sentenced in March 2024 to 25 years in federal prison after being convicted of fraud and conspiracy charges tied to the 2022 collapse of FTX.
Speculation about a possible presidential pardon increased after Bankman-Fried petitioned Trump for a pardon in June 2026, asking listed pending on file with the Department of Justice.
Source: Polimarket
At Polymarket, investors currently assign a less than 1% chance that Trump will pardon Bankman-Fried by July 31. Trading volume on the market is over $734,000, indicating significant interest despite low rates.
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