TL;DR
- The U.S. Senate unanimously approved a resolution opposing any pardon or commutation of sentence for Sam Bankman-Fried.
- The bipartisan measure was pushed by Senators Lummis and Gallego following SBF’s presidential pardon request in June 2026.
- Bankman-Fried was sentenced in November 2023 to 25 years in prison on seven fraud charges linked to the collapse of FTX.
The United States Senate unanimously approved a formal resolution opposing any form of Executive clemency for Sam Bankman-Fried, the founder of FTX sentenced to 25 years in prison for one of the largest financial frauds in the country’s history.
The measure, pushed forward on a bipartisan basis by Senators Cynthia Lummis and Ruben Gallego, states that “under no circumstances” should a pardon or commutation be granted, and reaffirms the Senate’s commitment to the rule of law and the integrity of the American financial system.
Agreed to by unanimous consent: S. Res. 772, A resolution expressing the sense of the #Senate that under no circumstances should Samuel Bankman-Fried receive executive clemency, including a pardon or commutation, and affirming the Senate's commitment to the rule of law and…
— Senate Press Gallery (@SenatePress) July 15, 2026
Lummis and Gallego Press on the Bankman-Fried Case
The resolution was introduced on June 17, days after Bankman-Fried formally requested a presidential pardon. Lummis stated that the former executive was attempting to evade the consequences of his conviction. Gallego, for his part, noted that he had shown no remorse whatsoever and that he continued to present himself as a victim. The vote was unanimous, confirmed by the Senate Press Gallery, and formalized the chamber’s stance against any Executive intervention in favor of SBF.
Bankman-Fried was found guilty in November 2023 on seven criminal counts linked to the collapse of FTX. Federal prosecutors described the case as one of the largest financial frauds in U.S. history, generating losses of more than $8 billion for the exchange’s customers. Despite the conviction, SBF has maintained that FTX and Alameda Research were never insolvent and that the exchange could have handled withdrawals following the liquidity crisis of November 2022. He also accused the bankruptcy lawyers and the new management of forcing the company’s collapse.
No Way Out for the FTX Founder
Bankman-Fried also withdrew a motion that sought a new trial, telling Judge Lewis Kaplan that he did not believe he would receive a “fair hearing.” That motion had been filed in March by his mother, Barbara Fried, on his behalf. President Donald Trump, for his part, ruled out any intention of pardoning him in January, further narrowing the former executive’s room to maneuver to avoid serving his sentence.
