Senators Cynthia Lummis and Ruben Gallego submitted a joint resolution for consideration. The document is directed against a possible presidential pardon of Sam Bankman-Fried. Recall that the FTX exchange founder is currently in prison and actively trying to get his sentence reduced.

The document prepared by the politicians has no direct legal force and cannot block the president's decision. Nevertheless, the initiative clearly demonstrates the Senate's tough stance. At the moment, Bankman-Fried's official petition is still under review at the U.S. Department of Justice.

Want more exclusive news and analytics? Subscribe to our Telegram channel, discuss the news and share your opinions on the latest market events in the chat!

Bankman-Fried's attempt to obtain a pardon met with resistance from both parties

Bankman-Fried was a co-founder of FTX and Alameda Research before their collapse in November 2022. In 2023 a jury found him guilty on seven counts of fraud and conspiracy.

Judge Lewis Kaplan sentenced him to 25 years in prison and ordered the recovery of $11 billion. According to the prosecution, the scheme deprived clients of more than $8 billion.

On April 28, 2026, Judge Kaplan rejected Bankman-Fried's request for a new trial. A federal appeals court upheld the verdict and the 25-year term last week. The Senate resolution confirms that the sentence reflects the scale and deliberateness of his actions.

"The 25-year sentence handed to Bankman-Fried corresponds to the exceptional scale and deliberateness of his crimes, the absence of remorse, and the catastrophic damage to millions of victims — this term aligns with the principles of justice," the text of the document states.

The pardon application and the political response

Bankman-Fried sent a pardon petition to the Office of the Pardon Attorney of the U.S. Department of Justice. His application is currently under review.

Source: BeInCrypto