US bipartisan lawmakers 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) have 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 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 said he should accept the given responsibility rather than "chase an unearned pardon."

SBF was convicted 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.

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