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Senators Lummis and Gallego push resolution urging Trump to deny Bankman-Fried pardon
Sam Bankman-Fried wants out of prison. Two of the Senate's most prominent crypto advocates are working to make sure he stays there.
A bipartisan group of senators is seeking to increase pressure on President Donald Trump to deny clemency to imprisoned crypto executive Sam Bankman-Fried, who has spent recent weeks lobbying for a pardon through social media posts and interviews.
Republican Senator Cynthia Lummis and Democratic Senator Ruben Gallego are introducing a Senate resolution opposing any pardon for the former FTX chief after he formally applied for relief from his sentence.
Bankman-Fried is serving a 25-year sentence after being convicted of fraud tied to the collapse of FTX that wiped out between $8 billion and $11 billion in customer and investor funds. His effort to overturn the conviction on appeal was rejected last week.
In the resolution, the senators reject claims that the prosecution was politically motivated and insist that Bankman-Fried should remain accountable for one of the largest financial fraud cases in recent US history.
Bankman-Fried has repeatedly countered that customers are being repaid through bankruptcy proceedings and has publicly sought support for a pardon.