US Senate Unanimously Opposes Clemency for FTX Founder Sam Bankman-Fried

US lawmakers have unanimously opposed clemency for FTX founder Sam Bankman-Fried. The nonbinding resolution was passed without objection, underscoring lawmakers' views on Bankman-Fried's role in one of the largest financial frauds in US history. The Senate agreed that Bankman-Fried should under no circumstances receive a presidential pardon or commutation.

The resolution was led by Senators Cynthia Lummis and Ruben Gallego, who stated that 'he had his day in court' and 'keep him locked up', respectively. Bankman-Fried is not eligible for release until around 2044 after being convicted on seven counts related to FTX's collapse and the loss of over $8 billion in customer funds.

The Senate Banking Committee's digital assets subcommittee, led by Lummis and Gallego, has been a strong advocate for regulating the crypto industry. Bankman-Fried's case is seen as a key test for their efforts to hold executives accountable for their actions.