Senate Opposes Sam Bankman-Fried Clemency Bid

The US Senate has adopted a resolution opposing executive clemency for former FTX CEO Sam Bankman-Fried, the convicted crypto executive behind one of the industry’s largest collapses.

The Senate has agreed by unanimous consent to the simple resolution (S. Res. 772), with a nonbinding measure stating that Bankman-Fried should not receive executive clemency, according to a Wednesday X post by the Senate Press Gallery.

The resolution affirms the Senate’s commitment to the rule of law and the integrity of the US financial system following Bankman-Fried’s conviction on fraud and conspiracy charges related to FTX’s collapse.

The measure cannot block a presidential pardon but reflects bipartisan Senate opposition after Bankman-Fried sought executive clemency from President Donald Trump.

Senate weighs in, but cannot block a pardon

Introduced on June 17 by Senator Ruben Gallego, with Senator Cynthia Lummis as a cosponsor, S. Res. 772 opposes any form of federal clemency for Bankman-Fried, including a presidential pardon or sentence commutation.

Unlike legislation, a simple Senate resolution does not require approval from the House or the president and does not have the force of law, according to the Senate’s “Types of Legislation” guide.

Source: Senate Press Gallery

Congress.gov had not yet reflected the latest floor action at the time of publication.

Related: FTX exec’s wife scheduled for November trial on campaign finance charges

Senator Bernie Moreno of Ohio joined as a cosponsor on Tuesday, adding Republican support to the bipartisan measure.

Prediction markets see little chance of a pardon

Bankman-Fried was sentenced to 25 years in federal prison in March 2024 after being convicted of fraud and conspiracy charges linked to FTX’s collapse in 2022.

Speculation about a possible presidential pardon grew after Bankman-Fried applied for clemency from Trump in June 2026, with the request listed as pending in Department of Justice records.

Source: Polymarket

On Polymarket, traders currently assign less than a 1% chance that Trump will pardon Bankman-Fried by July 31. The market has attracted more than $734,000 in trading volume, indicating notable interest despite the low odds.

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