U.S. Bipartisan Lawmakers Jointly Urge: Ban Presidential Pardon or Sentence Reduction for SBF

Odaily Planet Daily News U.S. Senators Rubén Gallego (Democrat, Arizona) and Cynthia Lummis (Republican, Wyoming) jointly proposed a bipartisan resolution calling for Congress to formally declare opposition to any granting of a presidential pardon, commutation, or other form of federal clemency to FTX founder Sam Bankman-Fried under any circumstances. The two lawmakers stated that SBF has completed the trial process in court and should not seek further leniency. Gallego described him as "showing no remorse," while Lummis stated that he should bear the established responsibility rather than "chasing a pardon that has not been granted."

SBF was found guilty by a jury in 2023 on seven counts of fraud and conspiracy related to the FTX collapse. In 2024, he was sentenced to 25 years in prison and ordered to forfeit approximately $11 billion in assets, with customer losses exceeding $8 billion. The case is considered one of the largest financial frauds in U.S. history.

This resolution also responds to his recent clemency application submitted to the U.S. Department of Justice. Although Trump previously stated he had no intention of granting him a pardon, some lawmakers remain concerned about political uncertainties in the process. Currently, prediction markets still place the probability of SBF receiving a pardon at low single-digit levels. (Decrypt)