Senate Sends Rare, Unanimous Message
In a striking display of unity, the United States Senate has unanimously passed a resolution declaring that Sam Bankman-Fried, the convicted founder of FTX, should not receive any form of executive clemency. The resolution, S. Res. 772, was introduced on June 17, 2026, by Senators Cynthia Lummis (R-WY) and Rubén Gallego (D-AZ), both key figures on the Senate Banking Committee’s digital assets subcommittee. Notably, not a single senator objected as the measure advanced by unanimous consent.
This rare bipartisan agreement comes more than two years after FTX’s collapse in November 2022, an event that led to over $8 billion in customer losses and sent shockwaves through both the crypto markets and Washington.
Senator Bernie Moreno of Ohio joined as a cosponsor of S. Res. 772 on Tuesday, adding to the resolution's bipartisan support.
Lawmakers Draw Firm Line on SBF
S. Res. 772 states unequivocally that Bankman-Fried should “under no circumstances” be granted a presidential pardon or sentence commutation. While the resolution is nonbinding and cannot legally prevent a president from issuing clemency, its passage sends a clear message: Congress is unwilling to entertain leniency for one of crypto’s most infamous figures.
Sam Bankman-Fried was sentenced to 25 years in federal prison in March 2024 after being convicted on seven counts of fraud and conspiracy related to FTX’s implosion. His earliest possible release date is around 2044, reflecting the severity of his offenses and the scale of losses suffered by American customers.
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No Senator Defends FTX Founder
Despite the high-profile nature of Bankman-Fried’s case and the ongoing debates about cryptocurrency regulation, not a single senator voiced opposition to S. Res. 772. Senators from both parties—including initial sponsors Lummis and Gallego as well as Senator Bernie Moreno (R-OH), who joined as a cosponsor—stood together in opposing clemency for Bankman-Fried.
On paper, presidential pardons are always possible, but this vote leaves little doubt about Congress’s stance.
Resolution Symbolic, But Striking
While S. Res. 772 does not have legal force to block a presidential pardon—executive clemency remains solely at the president’s discretion—it marks an unusual moment of bipartisan resolve on crypto crime. The measure was adopted amid renewed speculation about potential pardons after it became public in June 2026 that Bankman-Fried had applied for clemency from then-President Donald Trump, with his request still listed as pending in Department of Justice records.
President Trump himself stated in January 2026 that he had no plans to pardon Bankman-Fried, but the application’s existence kept the issue alive and prompted lawmakers to act preemptively.
FTX Fallout: Political Walls Close In
The roots of this political backlash trace back to November 2022 when CoinDesk obtained Alameda Research’s balance sheet and revealed that most assets were made up of FTT tokens created by FTX itself—a disclosure that triggered a cascade leading to bankruptcy within days. The resulting $8 billion loss for American customers became one of the largest financial scandals in recent memory and has shaped legislative attitudes toward crypto accountability ever since.
A federal court reaffirmed Bankman-Fried's fraud conviction in June 2026, further cementing his legal defeat even as his clemency bid remained unresolved. According to decrypt.co, this judicial decision underscored how little room remains for reversal or leniency at any level apart from presidential action.
For now, despite ongoing debate within crypto circles about regulatory reform and industry oversight, lawmakers have drawn an unmistakable red line: there will be no softening for those found guilty of massive fraud on this scale.
Crucial Points
- •On June 17, 2026, the U.S. Senate unanimously passed S. Res. 772 opposing clemency for Sam Bankman-Fried.
- •Sam Bankman-Fried was sentenced to 25 years in prison in March 2024 for FTX-related fraud and conspiracy.
- •The FTX collapse in November 2022 caused over $8 billion in losses for American customers.
What remains under scrutiny
If President Donald Trump acts on Sam Bankman-Fried’s pending clemency request filed in June 2026, despite the Senate’s unanimous passage of S. Res. 772 opposing any pardon or commutation, it would immediately test the nonbinding resolution’s political weight and the president’s stated position as of January 2026 that he had no plans to grant clemency.
