Bipartisan Senators Oppose Sam Bankman-Fried Presidential Pardon
Senators Cynthia Lummis (R-Wyo.) and Ruben Gallego (D-Ariz.) have introduced a bipartisan resolution urging the executive branch to reject a presidential pardon for FTX cofounder Sam Bankman-Fried. The resolution asserts that Bankman-Fried's 25-year sentence "serves the interests of justice" and was not the result of an unfair investigation, despite his claims. Bankman-Fried, convicted in 2023 for orchestrating a major financial fraud, has formally sought clemency after exhausting his appeals, though his pardon request is currently pending.
A bipartisan effort in the U.S. Senate seeks to block a potential presidential pardon for convicted crypto fraudster Sam Bankman-Fried. Senators Cynthia Lummis (R-Wyo.) and Ruben Gallego (D-Ariz.) introduced a resolution on Wednesday, urging the executive branch to disregard the FTX cofounder’s formal pardon bid.
The resolution, which is not specifically addressed to President Donald Trump, states that Bankman-Fried’s 25-year sentence "serves the interests of justice." It also refutes Bankman-Fried's assertions that his conviction resulted from an unfair investigation into his crimes. A spokesperson for Senator Lummis indicated that the senator and her colleagues believe Bankman-Fried is "exactly where he belongs," while Senator Gallego stated that Bankman-Fried "has shown no remorse for his crimes."
Bankman-Fried was convicted in 2023 on seven counts, including multiple fraud and money-laundering conspiracies. He was found guilty of orchestrating a financial fraud that involved siphoning billions of dollars in customer funds from the crypto exchange FTX into his trading firm, Alameda Research.
The push for clemency by Bankman-Fried follows a period during which President Trump has granted pardons to several prominent figures, including crypto figures like Binance founder Changpeng Zhao and Silk Road creator Ross Ulbricht, as well as other white-collar offenders such as former private equity executive David Gentile. Bankman-Fried’s parents have reportedly engaged with individuals close to Trump, and Bankman-Fried himself participated in an unauthorized prison interview in March 2025.
Bankman-Fried’s pardon request is listed as "pending" with the Justice Department. This clemency effort comes after he has exhausted key legal appeals. Despite these efforts, the odds of a pardon remain low. A White House spokesperson, when questioned about the possibility of Trump clearing Bankman-Fried's sentence, referenced comments made by Trump in January, indicating no such plans.
According to Fortune, Senators Lummis and Gallego, both members of the Senate Banking Committee, aim to quickly pass the resolution. While it cannot directly block a presidential pardon, it would publicly affirm senatorial opposition to clemency for Bankman-Fried.
