Congress Can’t Stop a Pardon, but the Senate Just Put Itself on Record Against Sam Bankman-Fried

The U.S. Senate has unanimously approved a resolution declaring that FTX founder Sam Bankman-Fried should not receive a presidential pardon, sentence commutation or any other form of federal clemency, marking a rare bipartisan effort to formally express Congress’ opposition even though it has no legal authority over the president’s pardon power.

The nonbinding measure, adopted by unanimous consent on Wednesday, does not prevent President Donald Trump from granting clemency. Instead, it places the Senate on record that Bankman-Fried, who is serving a 25-year federal prison sentence for fraud and conspiracy tied to the collapse of FTX, should receive no form of executive relief “under any circumstances.”

Senate Resolution Carries No Legal Force

Senate Resolution 772 was introduced on June 17 by Sen. Ruben Gallego, D-Ariz., and Sen. Cynthia Lummis, R-Wyo., the ranking Democrat and Republican on the Senate Banking Subcommittee on Digital Assets.

The resolution states that Bankman-Fried should not receive “a presidential pardon, sentence commutation, or any other form of Federal clemency under any circumstances.”

It passed the Senate by unanimous consent, a procedure used when no senator objects to a measure. Unlike a recorded vote, unanimous consent does not require lawmakers to cast individual votes, but it places the Senate’s position into the congressional record.

Because the resolution is nonbinding, it does not limit or alter the president’s constitutional authority to grant clemency.

Why Congress Acted

The resolution followed public reports that Bankman-Fried had been pursuing presidential clemency while serving his sentence.

It also came after Trump granted clemency to two other high-profile figures associated with the cryptocurrency industry: Binance founder Changpeng Zhao and Silk Road founder Ross Ulbricht.

The Senate resolution does not reference those pardons directly, but its sponsors said Congress should make clear that Bankman-Fried’s case should not receive similar treatment.

In a statement issued when the resolution was introduced, Gallego said Bankman-Fried had “stolen billions of dollars from everyday Americans,” while Lummis said granting clemency would undermine accountability for financial crimes.

Bankman-Fried Is Serving a 25-Year Prison Sentence

Bankman-Fried was convicted in November 2023 on seven counts of fraud and conspiracy stemming from the collapse of FTX, once one of the world’s largest cryptocurrency exchanges.

Federal prosecutors said he diverted customer deposits from FTX to affiliated trading firm Alameda Research, where the funds were used for investments, political donations and other expenditures without customers’ knowledge.

He was sentenced in March 2024 to 25 years in federal prison.

His legal team has continued challenging aspects of the conviction while reports have indicated he has also sought executive clemency.

What Happens Next

The Senate’s resolution does not prevent the White House from considering or granting clemency.

Under Article II of the U.S. Constitution, the president retains exclusive authority to issue pardons and commutations for federal offenses.

The measure instead serves as a formal expression of the Senate’s position, placing bipartisan opposition to clemency for Bankman-Fried into the congressional record while leaving the president’s constitutional powers unchanged.