The nonbinding resolution passed without objection after Bankman-Fried asked for clemency, months after Trump pardoned other major crypto figures, including Changpeng Zhao and Ross Ulbricht.
- The Senate unanimously approved a resolution declaring that FTX founder Sam Bankman-Fried should under no circumstances receive a presidential pardon or commutation.
- The bipartisan measure, led by Senators Cynthia Lummis of Wyoming and Ruben Gallego of Arizona, underscores lawmakers’ view of Bankman-Fried’s role in what prosecutors called one of the largest financial frauds in U.S. history.
- Bankman-Fried, convicted in 2023 on seven counts related to FTX’s collapse and the loss of more than $8 billion in customer funds, is not eligible for release until around 2044, and former President Donald Trump has said he has no plans to pardon him.
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Crypto Flows, Share and the Selective Rotation
Markets repositioned since June, but Binance held share (~55% user funds, ~24% spot) and drew net inflows in early July while the tracked market saw outflows.
Why it matters :
Markets repositioned since June, but Binance held share (~55% user funds, ~24% spot) and drew net inflows in early July while the tracked market saw outflows.
U.S. regulator warns prediction markets against cutting corners in event contracts
Europe's high regulatory bar could spark new crypto industry M&A wave
Senate Dems should accept the victory they won on Trump's crypto limits: White House
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