Senators Propose Bipartisan Resolution Against Sam Bankman-Fried Pardon
On June 17, 2026, Senators Rubén Gallego and Cynthia Lummis introduced a bipartisan resolution opposing clemency for Sam Bankman-Fried, the convicted founder of FTX, according to Decrypt. This non-binding resolution follows Bankman-Fried's recent formal pardon petition, emphasizing his lack of remorse and calling for accountability.
On June 17, 2026, Senators Rubén Gallego (D-AZ) and Cynthia Lummis (R-WY) introduced a bipartisan resolution in the U.S. Senate opposing any presidential pardon or clemency for Sam Bankman-Fried, the founder of the collapsed cryptocurrency exchange FTX. The resolution characterizes Bankman-Fried as an unrepentant fraudster, directly rejecting his claims of political persecution and asserting the validity of the jury's conviction.
This measure comes on the heels of Bankman-Fried's attempt to secure a pardon after his conviction for multiple counts of fraud and conspiracy related to the FTX collapse in November 2022. Following a unanimous jury verdict, he received a 25-year prison sentence and was ordered to forfeit $11 billion by Judge Lewis Kaplan in March 2024. The financial fallout from FTX saw customers lose over $8 billion, marking this incident as one of the largest financial frauds in U.S. history.
The senators expressed their firm stance against Bankman-Fried's clemency efforts. "Keep him locked up," Gallego stated, asserting that Bankman-Fried has shown “no remorse” for his actions. Lummis reinforced this sentiment, suggesting that Bankman-Fried is pursuing pardon instead of accepting accountability for his deeds, emphasizing that he has already had his day in court.
Additionally, the resolution highlights that Bankman-Fried's portrayal of his prosecution lacks merit and supports the integrity of the legal process. His pardon request currently lies with the Justice Department's Office of the Pardon Attorney, with little hope for approval given that his conviction was recently upheld by the Second Circuit, which leaves him ineligible for release until 2044.
The actions of Senators Gallego and Lummis underscore the larger implications of regulatory oversight in the cryptocurrency industry, especially as it deals with issues of fraud and accountability. Moving forward, observers will be keen to see how this bipartisan resolution influences public and governmental sentiment on crypto regulation and the potential for future clemency cases in the industry.
Summary based on original reporting by Decrypt Agent at Decrypt, originally published Jun 17, 2026. SolanaWire does not republish source content.
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