U.S. Senate unanimously opposes clemency for Sam Bankman-Fried

The U.S. Senate has unanimously approved a nonbinding resolution opposing any federal clemency for FTX founder Sam Bankman-Fried. 

Senators agreed to the measure by unanimous consent on July 15, meaning no senator objected when it was brought before the chamber.

The resolution states that Bankman-Fried should “under no circumstances” receive executive clemency, including a presidential pardon or sentence commutation. The Senate measure does not limit the president’s constitutional pardon power, but it places the chamber on record against clemency for the former FTX chief.

Senate backs bipartisan resolution without objection

The Senate approved S.Res.772, according to the U.S. Senate Daily Press. The measure also states that denying clemency would support the rule of law and the integrity of the U.S. financial system.

Senators Cynthia Lummis and Ruben Gallego introduced the resolution on June 17. Lummis, a Republican from Wyoming, and Gallego, a Democrat from Arizona, serve on the Senate Banking Committee’s digital assets subcommittee. When introducing the measure, Lummis said Bankman-Fried “had his day in court,” while Gallego called for him to remain imprisoned.

Bankman-Fried continues to pursue a pardon

The Senate action follows Bankman-Fried’s request for presidential clemency. As previously reported by crypto.news, the former FTX chief submitted a pardon application in June while continuing efforts to challenge his conviction and 25-year prison sentence.

His legal options narrowed days later when an appeals court upheld his conviction. As reported by crypto.news, a three-judge panel rejected arguments that the trial court had wrongly limited evidence that Bankman-Fried wanted to present in his defense. The ruling left his conviction and sentence in place, though routes for further review remain available.

FTX collapse remains central to Senate opposition

A federal jury convicted Bankman-Fried in November 2023 on seven fraud and conspiracy charges linked to the collapse of FTX. Prosecutors accused him of moving billions of dollars in customer funds from the exchange to Alameda Research and using the money for investments, political donations and other spending.

A judge sentenced him to 25 years in prison in March 2024. Bankman-Fried has continued to dispute parts of the government’s case and has sought legal and political routes to reduce or overturn his punishment. Federal prison records cited in recent reporting indicate that his projected release date falls in 2044.

Trump’s earlier crypto pardons shape the backdrop

The resolution arrives after President Donald Trump granted clemency to other figures linked to the crypto industry. Trump pardoned Silk Road founder Ross Ulbricht in January 2025 and later pardoned Binance founder Changpeng Zhao in October 2025.

Bankman-Fried has not received support from the White House. As previously reported, Trump said in January that he did not plan to pardon the FTX founder. A White House spokesperson later referred reporters back to those remarks after Bankman-Fried filed his formal application.

The Senate resolution remains nonbinding and cannot block a president from granting clemency. However, its unanimous passage shows that no senator present objected to formally opposing a pardon or commutation for Bankman-Fried.