加密货币Neutral

Senate Opposes Sam Bankman-Fried Clemency Bid

The US Senate backed a resolution opposing clemency for former FTX CEO Sam Bankman-Fried, while Polymarket traders put the odds of a Trump pardon by July 31 below 1%.

YayaNewsFinancial news writer2026-07-16 18:11Updated: 2026-07-16 18:110 ViewsSource CoinTelegraph

YayaNews contributes financial news and market context through the YayaNews editorial workflow.

The US Senate backed a resolution opposing clemency for former FTX CEO Sam Bankman-Fried, while Polymarket traders put the odds of a Trump pardon by July 31 below 1%.

Senate Opposes Sam Bankman-Fried Clemency Bid

DOGE

$0.07321

0.85%

TRX

$0.3234

1.43%

LINK

$8.42

0.70%

ZEC

$545.42

3.26%

ADA

$0.1620

1.55%

XRP

$1.10

0.28%

ETH

$1,886.22

0.12%

BTC

$64,112.95

1.06%

XMR

$331.87

1.79%

BNB

$577.57

0.15%

XLM

$0.1896

2.82%

SOL

$76.10

1.97%

HYPE

$65.97

3.05%

Written by

Helen Partz

staff writer

Reviewed by

Yohan Yun

staff writer

Written by

Helen Partz

staff writer

Reviewed by

Yohan Yun

staff writer

US Senate unanimously adopts resolution opposing clemency for SBF

Latest News

Published

Jul 16, 2026

The Senate approved a resolution opposing clemency for former FTX CEO Sam Bankman-Fried as prediction markets put the odds of a Trump pardon by July 31 below 1%.

The US Senate has adopted a resolution opposing executive clemency for former FTX CEO Sam Bankman-Fried, the convicted crypto executive behind one of the industry’s largest collapses.

The Senate has agreed by unanimous consent to the simple resolution (S. Res. 772), with a nonbinding measure stating that Bankman-Fried should not receive executive clemency,

according

to a Wednesday X post by the Senate Press Gallery.

The resolution affirms the Senate’s commitment to the rule of law and the integrity of the US financial system following Bankman-Fried’s conviction on fraud and conspiracy charges related to FTX’s collapse.

The measure cannot block a presidential pardon but reflects bipartisan Senate opposition after Bankman-Fried sought executive clemency from President Donald Trump.

Senate weighs in, but cannot block a pardon

Introduced

on June 17 by Senator Ruben Gallego, with Senator Cynthia Lummis as a cosponsor, S. Res. 772 opposes any form of federal clemency for Bankman-Fried, including a presidential pardon or sentence commutation.

Unlike legislation, a simple Senate resolution does not require approval from the House or the president and does not have the force of law,

according

to the Senate’s “Types of Legislation” guide.

Source: Senate Press Gallery

Congress.gov had not yet

reflected

the latest floor action at the time of publication.

FTX exec’s wife scheduled for November trial on campaign finance charges

Senator Bernie Moreno of Ohio

joined

as a cosponsor on Tuesday, adding Republican support to the bipartisan measure.

Prediction markets see little chance of a pardon

Bankman-Fried was sentenced to 25 years in federal prison in March 2024 after being convicted of fraud and conspiracy charges linked to FTX’s collapse in 2022.

Speculation about a possible presidential pardon grew after Bankman-Fried

applied for clemency from Trump

in June 2026, with the request

listed

as pending in Department of Justice records.

Source:

Polymarket

On Polymarket, traders currently assign less than a 1% chance that Trump will pardon Bankman-Fried by July 31. The market has attracted more than $734,000 in trading volume, indicating notable interest despite the low odds.

Magazine:

Strategy became a symbol of the dot-com crash: Could history repeat?

Subscribe to daily byte-sized crypto news from Cointelegraph

Cointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph’s

Editorial Policy

and aims to provide accurate and timely information. Readers are encouraged to verify information independently.

FTX

Sam Bankman-Fried

Senate

Donald Trump

Polymarket

Scams & Cybercrime