Congressional resolution urges against clemency for the 25-year sentenced ex-CEO amid FTX collapse fallout.
A bipartisan group of US lawmakers introduced a resolution opposing a presidential pardon for Sam Bankman-Fried, convicted of fraud tied to FTX’s $8 billion collapse. Bankman-Fried, sentenced to 25 years in prison, formally requested clemency from former President Trump after an appeals court upheld his conviction last week.
The November 2023 conviction followed FTX’s 2022 bankruptcy, which wiped out billions in customer funds. Bankman-Fried’s legal options are now limited to a Supreme Court appeal or a pardon. Trump previously stated he had no plans to intervene, though Bankman-Fried’s recent social media posts aligned with Trump’s policies.
Senator Cynthia Lummis, a co-sponsor, affirmed support for the sentence, calling it appropriate. Other FTX executives received lighter sentences for cooperating in the trial, including former Alameda Research CEO Caroline Ellison.