US lawmakers from both parties jointly propose resolution to pressure: 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 introduced a bipartisan resolution calling on Congress to formally state its opposition to FTX founder Sam Bankman-Fried receiving a presidential pardon, commutation, or any other form of federal clemency under any circumstances. The two senators stated that SBF has completed the trial process in court and should not seek leniency, with Gallego calling him "unrepentant" and Lummis saying he should bear the established responsibility rather than "chasing a pardon he has not yet received."

SBF was convicted by a jury in 2023 on seven counts of fraud and conspiracy related to the FTX collapse, sentenced in 2024 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 former President Trump previously stated he has no intention of granting a pardon, some lawmakers remain concerned about political uncertainty surrounding the process. Currently, prediction markets still place the probability of SBF receiving a pardon at low single-digit levels. (Decrypt)