The U.S. Senate passed a nonbinding resolution opposing clemency for the convicted crypto exchange founder.
The U.S. Senate unanimously passed a nonbinding resolution opposing clemency for Sam Bankman-Fried, founder of the collapsed crypto exchange FTX. The move follows Bankman-Fried’s request for clemency after his conviction on fraud charges tied to FTX’s $8 billion collapse in 2022.
The resolution passed without objection, contrasting with former President Trump’s pardons of other high-profile crypto figures, including Binance founder Changpeng Zhao and Silk Road creator Ross Ulbricht. Bankman-Fried was sentenced to 25 years in prison earlier this year for defrauding customers and investors.
The vote signals bipartisan opposition to leniency for Bankman-Fried, though the resolution carries no legal weight. Market reaction to the news remained muted, as the outcome was widely anticipated.