Senators to introduce resolution opposing Sam Bankman-Fried pardon

A bipartisan group of US senators plans to introduce a resolution reaffirming the conviction and sentence of former FTX CEO Sam Bankman-Fried. The move follows his request for a presidential pardon.

Senators Ruben Gallego and Cynthia Lummis are leading the effort. They aim to put the Senate on record against any clemency for the FTX fraudster.

The resolution will reaffirm Bankman-Fried’s conviction and sentence. It comes in direct response to his pardon request.

The bipartisan measure seeks to prevent any future leniency. Senators Gallego and Lummis want the chamber to oppose clemency under any circumstances.

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Sam Bankman-Fried appearing distressed in a federal courtroom after losing his fraud appeal
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Sam Bankman-Fried loses appeal of fraud conviction

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A federal appeals court upheld Sam Bankman-Fried’s fraud conviction and 25-year sentence on Friday. The former FTX CEO continues to seek a presidential pardon from Donald Trump as his remaining option.

Sam Bankman-Fried, the imprisoned founder of the collapsed FTX exchange, has formally applied for a presidential pardon from Donald Trump. The move triggered a sharp rally in the FTT token, which rose more than 50 percent in a day.

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Senator Panfilo Lacson warned that detentions of fellow senators could complicate the impeachment trial of Vice President Sara Duterte, which is set to begin on July 6. He suggested options such as seeking court permission for detained senators to attend as judges. Lacson also noted that Acting Senate President Sherwin Gatchalian may step aside for a lawyer to preside.

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