TLDR
- The U.S. Senate passed a resolution opposing any presidential pardon or commutation for FTX founder Sam Bankman-Fried
- The resolution passed by unanimous consent — not one senator objected
- Senators Cynthia Lummis and Ruben Gallego led the bipartisan effort
- Bankman-Fried was convicted in November 2023 on seven counts tied to the $8 billion FTX collapse
- Trump has pardoned other crypto figures including Changpeng Zhao and Ross Ulbricht, but drew the line at Bankman-Fried
The U.S. Senate voted unanimously on July 16 to oppose any presidential pardon or commutation for Sam Bankman-Fried, the founder of the now-collapsed crypto exchange FTX.
U.S. Senate Unanimously Opposes Clemency for FTX Founder Sam Bankman-Fried
The U.S. Senate unanimously approved a nonbinding resolution stating that FTX founder Sam Bankman-Fried should not receive a presidential pardon, sentence commutation or any other form of federal clemency… pic.twitter.com/u9yO9gHhVw
— Wu Blockchain (@WuBlockchain) July 16, 2026
The resolution, known as S. Res. 772, passed by unanimous consent. That means not a single senator raised an objection to it.
The measure was introduced on June 17 by Senator Cynthia Lummis, a Republican from Wyoming, and Senator Ruben Gallego, a Democrat from Arizona. The two lead the Senate Banking Committee’s digital assets subcommittee from opposite sides of the aisle.
“He had his day in court,” Lummis said when the resolution was introduced. Gallego was more blunt: “Keep him locked up.”
The resolution is non-binding, meaning it cannot legally block a presidential pardon. But it sends a clear political signal to the White House.
The FTX Collapse and Bankman-Fried’s Conviction
Bankman-Fried was convicted in November 2023 on seven counts tied to the collapse of FTX. Prosecutors described it as one of the largest financial frauds in U.S. history.
American customers lost more than $8 billion. Bankman-Fried is not eligible for release until around 2044.
At the center of the fraud was the movement of billions in FTX customer deposits to Alameda Research, a trading firm Bankman-Fried also owned. That money was spent on trades, venture investments, political donations, and Bahamian real estate.
The scheme unraveled in November 2022 after CoinDesk published Alameda’s balance sheet, revealing the firm’s assets were largely made up of FTT, a token FTX had created itself.
Days later, Binance said it would sell its FTT holdings. That triggered a price collapse, a customer bank run, and FTX’s bankruptcy filing on November 11, 2022.
How This Compares to Trump’s Other Crypto Pardons
President Trump has granted clemency to other high-profile crypto figures. Earlier this year he pardoned Binance founder Changpeng Zhao and Silk Road creator Ross Ulbricht.
Those pardons fueled speculation that Bankman-Fried might be next. His family even lobbied the White House on his behalf.
But the White House said in January it had no plans to pardon Bankman-Fried. The Senate’s unanimous resolution reinforces that position.
Bankman-Fried’s appeal to overturn his conviction was also rejected in court, leaving a pardon as his only remaining option.
The Senate’s vote makes clear that while regulatory issues may be treated differently, large-scale customer fraud is held to a higher standard.
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