The U.S. Senate on Wednesday unanimously passed a nonbinding resolution opposing clemency for FTX founder Sam Bankman-Fried, delivering a blunt bipartisan rebuke just months after President Trump pardoned two other high-profile crypto figures.
The resolution cleared the chamber without objection after Bankman-Fried formally requested clemency. The move comes on the heels of Trump’s pardons for former Binance CEO Changpeng Zhao and Silk Road creator Ross Ulbricht – decisions that already rattled many in Washington who viewed them as overly lenient toward convicted crypto executives.
Although the Senate resolution carries no legal force, it sends a clear political indicator. Lawmakers from both sides of the aisle lined up against any presidential pardon or sentence commutation for the fallen FTX founder, who was convicted in 2023 of fraud and conspiracy in one of the largest financial crimes in U.S. history.
For the crypto market, the development is squarely bearish for assets tied to the FTX estate, including the FTT token. The bipartisan opposition suggests that even in a political environment where the White House has shown willingness to forgive past crypto wrongdoers, Bankman-Fried remains a uniquely toxic figure. Traders betting on a presidential pardon that could have revived interest in FTX-related tokens now face a steeper uphill battle.
The resolution also complicates any future clemency discussions inside the Trump administration. While the president has broad pardon power, the Senate’s unified stance – rare in today’s polarized Congress – raises the political cost of intervening on Bankman-Fried’s behalf.
What comes next? White House press secretary has yet to comment on the resolution. Market participants will watch for any official statement from the administration or a formal clemency application update from Bankman-Fried’s legal team. Until then, the FTX token story remains one of legacy liabilities, not political redemption.
Senate Opposes Pardon for FTX Founder, Clouding FTT Token’s Outlook
The U.S. Senate unanimously passed a nonbinding resolution opposing a pardon or sentence reduction for Sam Bankman-Fried, founder of the failed crypto exchange FTX, after he requested clemency. The vote has no legal force, but it makes a presidential pardon harder politically and weakens hopes of renewed interest in FTT, the token tied to FTX’s estate.