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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, <a href="https://x.com/SenatePress/status/2077521872263033126?s=20" rel="noopener noreferrer nofollow">according</a> 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.
<h2 id="senate-weighs-in-but-cannot-block-a-pardon">Senate weighs in, but cannot block a pardon</h2>
<a href="https://www.congress.gov/bill/119th-congress/senate-resolution/772/all-actions" rel="noopener noreferrer nofollow">Introduced</a> 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, <a href="https://www.senate.gov/legislative/common/briefing/leg_laws_acts.htm" rel="noopener noreferrer nofollow">according</a> to the Senate’s “Types of Legislation” guide.
<img alt="" height="318" src="https://s3-images.ctmedia.io/media/content/pasted-image-2050.png" width="646">
Source: Senate Press Gallery
Congress.gov had not yet <a href="https://www.congress.gov/bill/119th-congress/senate-resolution/772/all-actions" rel="noopener noreferrer nofollow">reflected</a> the latest floor action at the time of publication.
Related: <a href="https://cointelegraph.com/news/ftx-exec-wife-november-trial-campaign-finance-charges" rel="noopener noreferrer nofollow">FTX exec’s wife scheduled for November trial on campaign finance charges</a>
Senator Bernie Moreno of Ohio <a href="https://www.congress.gov/bill/119th-congress/senate-resolution/772/cosponsors" rel="noopener noreferrer nofollow">joined</a> as a cosponsor on Tuesday, adding Republican support to the bipartisan measure.
<h2 id="prediction-markets-see-little-chance-of-a-pardon">Prediction markets see little chance of a pardon</h2>
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 <a href="https://cointelegraph.com/news/sbf-clemency-bid-trump-pardon-ftx-fraud-conviction" rel="noopener noreferrer nofollow">applied for clemency from Trump</a> in June 2026, with the request <a href="https://www.justice.gov/pardon/search-clemency-case-status?field_casefile_number=P338490&amp;viewsreference%5Bcompressed%5D=eJxdj8EKAyEMRP8lZw_SLVL8lVIkxdQG1IqbblmW_fdVPCz0EJKZN3PIBh4Fwd4fCijjM5J3M4lwDjPYDbCGb6IsYM9TgbBEatbYu4KCtRHXhmV1spZOm4mhYnnDf4B9w5O-GXOiF1P0LmPq1SEWpt8ZqLTwzJ882hcz6WuvjygLJecp9l_0fgC2GUqn" rel="noopener noreferrer nofollow">listed</a> as pending in Department of Justice records.
<img alt="" height="549" src="https://s3-images.ctmedia.io/media/content/pasted-image-2051.png" width="966">
Source: <a href="https://polymarket.com/event/will-trump-pardon-sbf-by-july-31-20260608235339562" rel="noopener noreferrer nofollow">Polymarket</a>
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.
Magazine: <a href="https://cointelegraph.com/features/from-dot-com-bust-to-bitcoin-king-has-michael-saylor-rewritten-his-legacy" rel="noopener noreferrer nofollow">Strategy became a symbol of the dot-com crash: Could history repeat?</a>

US Senate unanimously adopts resolution opposing clemency for SBF

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