Yesterday the U.S. Senate passed a Resolution (S.Res. 772) stating: FTX founder and former CEO Sam Bankman-Fried should never receive a Presidential Pardon.
Bankman-Fried is currently serving a 25-year prison sentence for fraud following the collapse of his businesses. Bankman-Fried is said to be seeking a Presidential pardon to cut his prison sentence short.
While it was reported in the months following FTX’s closure that investments would be more than enough to keep the operation afloat (potentially generating returns to investors), fraudulent activity is evident.
Bipartisan resolution introduced by Republican crypto advocate Senator Cynthia Lummis and Democratic Senator Ruben Gallego “He expressed the Senate’s view that Samuel Bankman-Fried should not be granted administrative relief, including pardons or commutations, under any circumstances, and affirmed the Senate’s commitment to the rule of law and the integrity of the U.S. financial system.”
Although the resolution is not binding or enforceable, it undermines Bankman-Fried’s strategy by discouraging President Trump from seeking a pardon for the crypto entrepreneur.
