US Senate Unanimously Adopts Resolution Opposing Pardon for FTX Founder Sam Bankman-Fried... "No Leniency"

On July 16, 2026, the U.S. Senate unanimously passed a resolution officially opposing any executive pardon or commutation for FTX founder Sam Bankman-Fried. This action clarifies the bipartisan refusal of Congress regarding the recent request for a presidential pardon by Bankman-Fried, who is now 34 years old.

Through this resolution, Senators sent a strong message to the White House that leniency should not be granted to the individual responsible for the largest fraud case in the history of virtual assets. This shows a markedly different atmosphere compared to President Donald Trump's recent exercise of pardon power for other major cryptocurrency figures.

Bankman-Fried has attempted to seek political relief as his legal avenues for appeal have virtually vanished, but Congress reaffirmed the devastating impact his crimes had on the market. The adoption of this resolution reflects the will of Congress to uphold legal justice ahead of the establishment of a cryptocurrency regulatory framework.

The Senate formalized its position through Resolution S.Res.772 that no form of pardon should be allowed for Bankman-Fried. This resolution was submitted in the form of expressing the 'sense of the Senate' and was passed by voice vote without a single dissenting opinion.

Under no circumstances should Samuel Bankman-Fried receive an executive pardon.

This move by the Senate is a preemptive measure following President Trump's earlier pardons of Binance founder Changpeng Zhao and Silk Road creator Ross Ulbricht. Congress sought to maintain a strict standard for financial crimes by preemptively blocking Bankman-Fried's attempts to ride this wave of pardons.

Dismissal of Legal Appeal and FTX's Descent into a 'Personal Piggy Bank'

On June 12, 2026, the Second Circuit Court of Appeals finally dismissed Bankman-Fried's attempt to overturn his conviction. Judge Barrington Parker strongly criticized him in the ruling, stating that he used customer funds as his "personal piggy bank" for real estate purchases and political donations.

• Misappropriating customer funds for large-scale real estate purchases and personal investments
• Using billions of dollars in funds as donations to expand political influence
• The act of embezzling funds behind the scenes while officially deceiving that customer funds were safe

This Senate resolution coincides with a meeting scheduled for July 16, 2026, between President Trump and Senators regarding the CLARITY Act. Congressional negotiators drew a clear line to ensure that the controversy over Bankman-Fried's pardon would not become an obstacle in the process of discussing virtual asset regulatory innovation.

The virtual asset market is showing mixed trends amid this political news. Ethereum is recording returns that outperform Bitcoin, driven by ETF inflows, while Bitcoin is up about 4%. On the other hand, some altcoins such as Solana and Tron are showing a contrasting trend, exhibiting a downward movement.