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FollowingThe U.S. Senate opposes the White House's pardon of FTX founder Sam Bankman-Fried
The U.S. Senate recently passed a resolution explicitly opposing the White House's pardon of convicted FTX founder Sam Bankman-Fried (SBF). The resolution is numbered S. Res. 772, which was passed unanimously in the Senate on Wednesday, signals the Senate's firm position: SBF should not receive executive pardon in any form, including a presidential pardon or commutation of sentence.
This non-binding resolution has no legal effect and does not limit the president's power of pardon. However, it recorded the position of all 100 senators who opposed the pardon of Bankman-Fried.
The resolution was jointly promoted by Senator Cynthia Loomis, Republican of Wyoming, and Senator Ruben Gallego, Democratic of Arizona. Two senators introduced the motion on June 17. According to previous reports, a few days ago, Bankman-Fried formally submitted a pardon request to the White House through the Justice Department's Office of Pardon Lawyers. [TAG
Senator Loomis said SBF tried to escape the consequences of its conviction. A spokesman for Loomis's office said: "SBF has significantly stepped up his lobbying for clemency, and Senator Loomis wants Fried to understand that she and her colleagues believe he deserves to be where he is."
President Trump 'unintentionally' pardons SBF
Sam Bankman-Fried has been seeking a presidential pardon over the past year, especially after President Trump pardoned Binance founder Zhao Changpeng last November. On June 8, he formally filed a petition for clemency, despite the president saying earlier this year that he had "no intention of pardoning" the convicted FTX founder.
SBF was convicted in November 2023 of seven counts of fraud and conspiracy in connection with the collapse of FTX in 2022, which caused a loss of $183 billion to the cryptocurrency market. He was sentenced to 25 years in prison. Prosecutors called the case one of the largest financial fraud cases in U.S. history, with FTX customers losing more than $8 billion. Bankman-Fried is not expected to be eligible for release until 2044.
