The U.S. Senate unanimously opposes the pardon of Sam Bankman-Fried: a political signal or a formality?
U.S. Senators Cynthia Lummis and Ruben Gallego have introduced a joint resolution directly aimed at preventing the possibility of a presidential pardon for FTX founder Sam Bankman-Fried. This move is not just a political declaration but a powerful signal that, even amid a shifting political landscape, Congress intends to uphold the principle of inevitable punishment for financial crimes of this magnitude.
It is important to understand: the resolution itself has no direct legal force and cannot block a presidential decision. However, it clearly demonstrates the Senate's firm stance. At present, Bankman-Fried's official pardon request is still under review by the U.S. Department of Justice, leaving room for political maneuvering.
Attempt to Secure a Pardon Faces Bipartisan Resistance
To recall, Sam Bankman-Fried, co-founder of FTX 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 deprived clients of over $8 billion.
On April 28, 2026, Judge Kaplan denied Bankman-Fried's request for a new trial, and last week, the Federal Appeals Court upheld the conviction and the 25-year sentence. The text of the Senate resolution explicitly emphasizes: "The 25-year sentence imposed on Bankman-Fried is commensurate with the exceptional scale and deliberateness of his crimes, his lack of remorse, and the catastrophic harm to millions of victims — this sentence aligns with the principles of justice."
Pardon Application and Political Response
Bankman-Fried submitted a pardon request to the Office of the Pardon Attorney at the U.S. Department of Justice. It is known that the former FTX CEO openly supported Donald Trump in posts on X, and his parents are hiring lawyers connected to Trump to secure a presidential pardon for their son. However, in January, Trump himself publicly ruled out the possibility of pardoning Bankman-Fried. If the sentence remains unchanged, he would not be released until 2044.
My analysis: This resolution is not merely a bureaucratic gesture. It shows that even in the fractured political landscape of the U.S., crimes that have undermined trust in an entire industry will not be forgotten. For the crypto community, this is an important precedent: it reinforces accountability for egregious violations at the highest level. In my view, Bankman-Fried's chances of early release are close to zero.