US Senators Cynthia Lummis and Ruben Gallego have introduced a resolution urging President Donald Trump to deny any form of clemency to Sam Bankman-Fried, the former FTX CEO convicted on seven counts of fraud in November 2023.
The bipartisan initiative comes after months of Bankman-Fried's attempts to secure a pardon from Trump, who has publicly stated he has no plans to grant one. The resolution is non-binding but serves as a strong political signal from two key legislators who have been central figures in negotiating crypto market structure legislation.
Lummis and Gallego criticized Bankman-Fried's lack of remorse for his actions, with Lummis stating that he 'had his day in court' and was given 25 years in prison 'for a reason'. Gallego added that Bankman-Fried 'took advantage of millions of Americans and stole their savings', showing no remorse whatsoever.