Senate passes resolution saying Bankman-Fried shouldn’t receive pardon

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The Senate unanimously passed a resolution Wednesday declaring that FTX founder Sam Bankman-Fried should not receive a pardon.

Bankman-Fried, who was sentenced to 25 years in prison on fraud charges tied to the collapse of his cryptocurrency exchange, officially requested a pardon from the Trump administration in early June.

The resolution, which cleared the upper chamber via unanimous consent, marks a notable rebuke of the disgraced crypto executive. It was put forward by a bipartisan duo involved in negotiations on a crypto regulation bill, Sens. Ruben Gallego (D-Ariz.) and Cynthia Lummis (R-Wyo.).

“It should not be considered controversial to say that someone like Sam Bankman-Fried — a fraudster who was convicted by a unanimous jury — should not be allowed to walk away scot-free,” Gallego said in a statement.

“That’s exactly what the Senate affirmed when they passed my resolution,” he continued. “Bankman-Fried stole billions from hardworking Americans. He’s a criminal who deserves to stay locked up.”

The FTX founder was considered one of the industry’s central players before his exchange collapsed in late 2022. He was later found guilty on various fraud and conspiracy charges for illegally using customer funds to bankroll his own lifestyle.

The New York Times reported last year that Bankman-Fried was lobbying President Trump for a pardon.

“Sam Bankman-Fried didn’t lose other people’s billions, he took them and used them to fund his lavish lifestyle, and now he wants a presidential pardon to shield him from the consequences of his own actions,” Lummis said in a statement last month, when the two senators introduced the resolution.

“He had his day in court,” she continued. “A jury didn’t buy his act, and a judge gave him 25 years for a reason. Mr. Bankman-Fried can spend that time chasing clemency he hasn’t earned, or he can finally do something novel and take accountability, but I’m certainly not interested in helping him avoid responsibility.”

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cryptocurrency

Cynthia Lummis

Donald Trump

FTX

presidential pardon

Ruben Gallego

Sam Bankman-Fried

Sam Bankman-Fried

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