US Senators Lummis and Gallego introduce bipartisan resolution opposing clemency for Sam Bankman-Fried

US Senators Lummis and Gallego introduce bipartisan resolution opposing clemency for Sam Bankman-Fried The non-binding measure states 'under no circumstances' should the former FTX founder receive a presidential pardon Share Add us on Google by Editorial Team Jun. 18, 2026 A Republican from Wyoming and a Democrat from Arizona don’t agree on much. But keeping Sam Bankman-Fried in prison?

That’s apparently the great unifier. Senators Cynthia Lummis and Ruben Gallego introduced a bipartisan resolution on June 17 opposing any presidential clemency for the former FTX founder, who is currently serving a 25-year sentence after his November 2023 conviction on seven counts of fraud. The resolution states that “under no circumstances should Samuel Bankman-Fried receive executive clemency.”

What the resolution actually says The measure is non-binding, meaning it carries the force of a strongly worded letter rather than actual law. Gallego emphasized that the former crypto mogul “had his day in court,” is showing “no remorse,” and should remain imprisoned. Lummis echoed the sentiment, stating that Bankman-Fried should face the consequences of his actions without pursuing a pardon.

Advertisement The resolution also takes a direct swing at one of Bankman-Fried’s recurring claims. He has characterized the investigation and prosecution against him as politically motivated. The Senate measure explicitly rejects that framing, reaffirming support for the integrity of the legal process that put him behind bars.

Bankman-Fried has submitted a formal clemency application to the Department of Justice under the Trump administration. The move prompted the bipartisan pushback, with both senators apparently deciding that a preemptive “no” was warranted. Trump has indicated he does not plan to offer clemency.

Prediction markets suggest the likelihood of a pardon is minimal. The FTX collapse and its aftermath Bankman-Fried was convicted on seven fraud charges tied to the catastrophic collapse of FTX. Customers lost billions.

The ripple effects cratered confidence across the entire digital asset industry. The lack of remorse cited by Gallego is particularly notable. Bankman-Fried’s insistence that his prosecution was politically driven, rather than a straightforward response to one of the largest financial frauds in recent history, has not exactly won him sympathy on Capitol Hill.

What this means for crypto investors The bipartisan nature of the resolution is the key detail here. Lummis is one of the most pro-crypto voices in Congress. She has championed digital asset legislation and positioned herself as a friend of the industry.

When even the Senate’s biggest crypto advocate says the guy who ran FTX should stay locked up, it draws a clear line between supporting the technology and tolerating fraud. The resolution also reinforces the direction of regulatory thinking in Congress. Lawmakers are increasingly interested in building frameworks for digital assets, but they want those frameworks paired with credible enforcement.

Letting the most prominent crypto fraudster walk free would undercut that entire project. The fact that Bankman-Fried even filed for clemency is itself telling. It suggests either genuine belief that the political winds could shift in his favor, or a legal team running out of conventional options.

Given Trump’s stated position against granting the pardon and the bipartisan Senate opposition, neither path looks promising. Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.

POLITICS US Senators Lummis and Gallego introduce bipartisan resolution opposing clemency for Sam Bankman-Fried The non-binding measure states 'under no circumstances' should the former FTX founder receive a presidential pardon by Editorial Team Just now ago Share Add us on Google A Republican from Wyoming and a Democrat from Arizona don’t agree on much. But keeping Sam Bankman-Fried in prison? That’s apparently the great unifier.

Senators Cynthia Lummis and Ruben Gallego introduced a bipartisan resolution on June 17 opposing any presidential clemency for the former FTX founder, who is currently serving a 25-year sentence after his November 2023 conviction on seven counts of fraud. The resolution states that “under no circumstances should Samuel Bankman-Fried receive executive clemency.” What the resolution actually says The measure is non-binding, meaning it carries the force of a strongly worded letter rather than actual law.

Gallego emphasized that the former crypto mogul “had his day in court,” is showing “no remorse,” and should remain imprisoned. Lummis echoed the sentiment, stating that Bankman-Fried should face the consequences of his actions without pursuing a pardon. Advertisement The resolution also takes a direct swing at one of Bankman-Fried’s recurring claims.

He has characterized the investigation and prosecution against him as politically motivated.