The U.S. Senate stood united against the pardon of Sam Bankman-Fried.
This week, U.S. Senators Cynthia Lummis and Ruben Gallego introduced a joint resolution opposing any potential presidential pardon for FTX founder Sam Bankman-Fried. While the document lacks direct legal force, it serves as a powerful political signal, demonstrating the tough stance of both parties in Congress regarding this high-profile case.
Pardon Attempt Faces Bipartisan Opposition
To recall, Bankman-Fried, the co-founder of the FTX exchange and Alameda Research, was found guilty on seven counts of fraud and conspiracy. Judge Lewis Kaplan sentenced him to 25 years in prison and ordered the forfeiture of $11 billion. According to the prosecution, his scheme defrauded customers of over $8 billion. All attempts to overturn the case have failed: in April 2026, Judge Kaplan denied a request for a new trial, and last week, a federal appeals court upheld the verdict.
The Senate resolution text emphasizes that the 25-year sentence "reflects the exceptional scale and deliberateness of his crimes, his lack of remorse, and the catastrophic harm to millions of victims." This is a direct and unequivocal assessment which, in my opinion, definitively closes the door on any potential political leniency for Bankman-Fried.
Pardon Request and Political Context
Bankman-Fried himself has filed a pardon petition with the U.S. Department of Justice's Office of the Pardon Attorney, and his application is currently under review. It is known that he has openly supported Donald Trump on social media, and according to media reports, his parents are actively seeking a presidential pardon, enlisting lawyers connected to Trump.
However, in January, Trump publicly ruled out the possibility of pardoning Bankman-Fried. If the sentence remains unchanged, he would not be released until 2044. Notably, reports suggest that after his release, Bankman-Fried plans to launch a new crypto token.
My analysis: This resolution is more than just a political gesture. It demonstrates that even in a polarized political environment, crimes of this magnitude, such as the collapse of FTX, unite lawmakers. The chances of a pardon for Bankman-Fried, in my view, are virtually zero. His sentence is not only a punishment for specific crimes but also a powerful precedent, sending a clear signal to the entire crypto industry about the consequences of systemic fraud.