Senate Rejects Pardon Bid for SBF over $183 Billion FTX Collapse

- U.S. Senate unanimously passes resolution opposing clemency for Sam Bankman-Fried - President Trump reiterates he has “no intention” to pardon SBF after fraud conviction 2026-07-16 On July 16, 2026 (UTC), Gallego.Senate.gov reported that the U.S. Senate unanimously condemned a pardon for jailed FTX founder Sam Bankman-Fried following his fraud conviction related to the exchange’s $183 billion collapse. The site reported that the Senate’s symbolic resolution, led by Senators Cynthia Lummis and Rubén Gallego, explicitly states that “under no circumstances” should Bankman-Fried receive a presidential pardon or sentence commutation. According to Gallego.Senate.gov on July 16, 2026, the measure, S. Res. 772, puts every senator on record against clemency for Bankman-Fried after his formal pardon request earlier this year, and the vote comes amid heightened public attention to his ongoing 25-year prison sentence. The report added that the move also follows his recent lobbying for presidential clemency, which intensified after the pardon of Binance founder Changpeng Zhao. In addition, Gallego.Senate.gov reported that the Senate resolution reflects rare bipartisan unity and formally opposes any reduction in Bankman-Fried’s sentence for his actions that led to massive crypto market losses. The decision carries no legal force; however, it serves as a public declaration of political opposition to a pardon or commutation. The outlet further noted that Bankman-Fried remains incarcerated with his clemency petition unresolved as of July 16, 2026, and that the Senate’s unanimous stance reinforces President Trump’s position. On July 16, 2026, President Donald Trump said during a press interaction that he has “no intention” to grant clemency to Bankman-Fried, and the Senate action makes clear that Congress opposes any executive clemency or pardon for him.