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%.
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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
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Written by
Helen Partz
staff writer
Reviewed by
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Written by
Helen Partz
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Reviewed by
Yohan Yun
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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.
Related:
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.
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FTX
Sam Bankman-Fried
Senate
Donald Trump
Polymarket
Scams & Cybercrime
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Original YayaNews editorial coverage, published for informational purposes.
This article is sourced from CoinTelegraph. It is for informational purposes only and does not constitute investment advice.
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