U.S. Senate unanimously opposes clemency for FTX founder Sam Bankman-Fried
The U.S. Senate has unanimously passed a measure opposing any potential clemency for convicted FTX founder Sam Bankman-Fried. The move reinforces the legislative stance against early release for the former executive, who is currently serving time for massive financial fraud.
Why it matters
This bipartisan action highlights the political severity of the FTX collapse and signals a firm stance by U.S. lawmakers against leniency for high-profile white-collar financial criminals.
It passed by unanimous consent, a procedure that clears a measure if not a single senator objects to it.
Senators Cynthia Lummis, a Wyoming Republican, and Ruben Gallego, an Arizona Democrat, run the Senate Banking Committee's digital assets subcommittee as its top Republican and Democrat.
Lummis is the crypto industry's most committed advocate in Congress and has spent years writing the legislation the industry wants. She has led the effort to keep one of its its most infamous figure behind bars.
"He had his day in court," Lummis said when the pair introduced the measure on June 17. Gallego's statement ended with four words: "Keep him locked up."
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