The U.S. Senate unanimously passed a resolution on July 15, 2026, declaring that FTX founder Sam Bankman-Fried should receive no executive clemency under any circumstances. The bipartisan measure, designated S. Res. 772, was led by Senators Cynthia Lummis and Rubén Gallego, the top Republican and Democrat on the Senate Banking Committee's digital assets subcommittee, who introduced it on June 17. The resolution responds to Bankman-Fried's ongoing efforts to secure clemency following his November 2023 conviction on seven fraud counts related to the 2022 collapse of FTX, which prosecutors called one of the biggest financial frauds in U.S. history after American customers lost more than $8 billion. The nonbinding resolution affirms the Senate's commitment to the rule of law and the integrity of the U.S. financial system, though it carries no legal force and cannot limit the president's constitutional pardon power. Bankman-Fried, who received a 25-year sentence, is not eligible for release until around 2044.
Senate Passes Resolution S. Res. 772 by Unanimous Consent
The Senate cleared S. Res. 772 through unanimous consent, a procedural mechanism that allows passage as long as no senator objects. The resolution states that Sam Bankman-Fried should "under no circumstances" receive a pardon or commutation of his 25-year sentence. Alongside its stance on Bankman-Fried, the measure affirmed the Senate's commitment to "the rule of law and integrity of the United States financial system." As a nonbinding resolution, it carries no legal force and cannot curb the president's constitutional power to grant clemency.
Senators Lummis and Gallego Lead Bipartisan Effort
Senators Cynthia Lummis and Rubén Gallego introduced the resolution on June 17. Lummis, the crypto industry's most prominent advocate in Congress, said at the time that Bankman-Fried "had his day in court." Gallego stated, "Keep him locked up." A spokesperson for Lummis' office told Decrypt that "SBF has clearly ramped up his pardon campaign and Senator Lummis wants Fried to know she and her colleagues think he's right where he belongs."
Bankman-Fried's Appeal Rejected Last Month
Bankman-Fried lost his appeal when a federal court upheld his fraud conviction last month. President Donald Trump said in January that he had no plans to pardon him. Bankman-Fried's scheduled release remains around 2044.
Trump Pardoned Other Crypto Figures
Trump extended clemency to other crypto figures, including Binance founder Changpeng "CZ" Zhao, BitMEX co-founders Arthur Hayes, Ben Delo, and Samuel Reed, and Silk Road creator Ross Ulbricht.
Jury Convicted Bankman-Fried in November 2023
A jury convicted Bankman-Fried in November 2023 on seven counts tied to the 2022 implosion of FTX, once one of the world's largest crypto exchanges. He was sentenced to 25 years in prison. Prosecutors called it one of the biggest financial frauds in U.S. history after American customers lost more than $8 billion.
FAQ
What did the U.S. Senate do regarding Sam Bankman-Fried on July 15, 2026?
The U.S. Senate unanimously passed resolution S. Res. 772, stating that Sam Bankman-Fried should receive no executive clemency, including a pardon or commutation, under any circumstances.
Who led the bipartisan resolution opposing clemency for Sam Bankman-Fried?
Senators Cynthia Lummis and Rubén Gallego, the top Republican and Democrat on the Senate Banking Committee's digital assets subcommittee, introduced the resolution on June 17.
When was Sam Bankman-Fried convicted and what is his scheduled release date?
A jury convicted Bankman-Fried in November 2023 on seven fraud counts related to the FTX collapse. He received a 25-year sentence and is scheduled for release around 2044.
