Key Highlights
- Senators Rubén Gallego and Cynthia Lummis introduced a resolution opposing any pardon or clemency for Sam Bankman-Fried.
- Bankman-Fried was convicted in the FTX fraud case, sentenced to 25 years in prison, and is not eligible for release until around 2044.
- Despite his push for a presidential pardon and political messaging, the White House has confirmed no clemency will be granted.
A bipartisan group of U.S. senators, Rubén Gallego (D-AZ) and Cynthia Lummis (R-WY), today introduced a resolution in Washington, D.C., opposing any kind of clemency for Sam Bankman-Fried, the imprisoned founder of collapsed crypto exchange FTX.
According to the joint statement, the resolution opposes any pardon, sentence reduction, or special release from prison.
No pardon, no reduction, no early exit
The two senators, who serve on the Senate Banking Subcommittee on Digital Assets, said they want Congress to officially take a stand. Gallego said, “Keep him locked up,” adding that Bankman-Fried has shown “no remorse” for what he did.
Lummis said SBF already had his chance in court and is now “chasing clemency he hasn’t earned.” A spokesperson for Lummis also said Bankman-Fried has increased his push for a pardon and that lawmakers believe he is “right where he belongs.” The resolution also rejects the idea that his case was political, and it fully supports the court’s decision and jury verdict.
This action comes after Bankman-Fried officially asked the U.S. Justice Department’s Office of the Pardon Attorney for a “pardon after completion of sentence.” That request has not been decided yet. His conviction was also recently confirmed by a higher court, which means his sentence still stands, and he is not expected to be free until 2044 at the earliest.
From crypto giant to prison sentence
Bankman-Fried’s downfall began when FTX collapsed in November 2022. The exchange was once one of the biggest crypto exchanges in the world. In November 2023, a jury found him guilty on seven serious charges, including fraud and conspiracy.
In March 2024, Judge Lewis Kaplan sentenced him to 25 years in prison and ordered him to give up $11 billion. Prosecutors said customers of FTX lost more than $8 billion in total, making it one of the biggest financial fraud cases ever seen in the United States.
SBF’s push for pardon
Since beginning his prison sentence, Bankman-Fried has continued to maintain his innocence while seeking public support for his release. He has used social media and public statements to promote his views.
Sam Bankman-Fried previously praised President Donald Trump for appointing Paul Atkins as the head of the SEC. He also supported Trump’s “TrumpRx” plan, calling it a “huge step in the right direction” and saying pharmaceutical companies were “gouging Americans.” He has also criticized Judge Lewis Kaplan, calling him politically biased.
White House says no pardon is planned
The White House said in January 2026 that President Trump does not plan to give Bankman-Fried a pardon. The statement came after Bankman-Fried publicly expressed support for Trump and conservative policy positions while criticizing what he described as “biased institutions.”
Although Trump has declined to grant clemency to Bankman-Fried, he has previously pardoned several figures connected to the cryptocurrency industry, including Ross Ulbricht, Arthur Hayes, Ben Delo, and Changpeng Zhao.
Lawmakers say that history underscores the need to make Congress’s position clear. Prediction markets also currently indicate that the likelihood of a pardon remains low.
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