Senate Urges Trump Not to Pardon Ex-Crypto Exec Bankman-Fried

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The Senate approved a resolution condemning efforts by FTX co-founder Sam Bankman-Fried to secure a pardon. The former cryptocurrency executive, who was sentenced to 25 years for fraud and other charges, should “under no circumstances” receive clemency, including a pardon or commutation, according to the resolution (S. Res. 772) that the chamber agreed to by unanimous consent on Wednesday. The resolution, introduced last month by Sens. Ruben Gallego (D-Ariz.) and Cynthia Lummis (R-Wyo.), described the move as “affirming the Senate’s commitment to the rule of law.” Providing news, analysis, data and opportunity insights. Log in to keep reading or access research tools and resources.

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The US Senate passed a bill urging not to pardon Sam Bankman-Fried, co-founder of FTX. Bankman-Fried was sentenced to 25 years in prison on charges of fraud and other allegations.

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The decision has significant implications for the cryptocurrency market, particularly for Bitcoin's price.

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