The U.S. Senate pressures Trump: resolution against pardoning Sam Bankman-Fried
U.S. Senators Cynthia Lummis and Ruben Gallego have introduced a joint resolution opposing any potential presidential pardon for FTX founder Sam Bankman-Fried. The document is primarily political in nature and carries no binding legal force, but it clearly demonstrates the consolidated position of the upper chamber of Congress: no leniency for the decade's top crypto fraudster.
As a reminder, Bankman-Fried is serving a 25-year prison sentence on seven counts of fraud and conspiracy. Judge Lewis Kaplan also ordered him to forfeit $11 billion. According to the investigation, his scheme caused losses to FTX clients exceeding $8 billion. The Federal Appeals Court last week upheld the verdict, leaving the sentence and forfeiture amount unchanged. The senators' resolution directly states that such a harsh punishment is commensurate with the "exceptional scale and deliberateness of his crimes, his lack of remorse, and the catastrophic harm to millions of victims."
Political Context and Pardon Prospects
Bankman-Fried's clemency application is currently under review by the U.S. Department of Justice. It is known that he openly supported Donald Trump in his posts, and his parents have hired lawyers connected to the former president's circle to lobby for this issue. However, in January, Trump himself ruled out the possibility of pardoning Bankman-Fried. If the sentence stands, he will only be eligible for release in 2044.
Meanwhile, reports are circulating in the press that Bankman-Fried plans to launch a new crypto token after his release. This statement, in my view, looks more like an attempt to maintain media relevance rather than a realistic business plan.
My analysis: This resolution is a powerful political signal that makes a pardon for Bankman-Fried virtually impossible for any president who values their reputation. The FTX case has become a symbol of the collapse of trust in the crypto industry, and any attempt to mitigate the punishment for its main figure will be seen as a betrayal of the interests of millions of harmed investors. Bankman-Fried's chances of early release are approaching zero.