US Senate Adopts Resolution Opposing SBF Pardon; FTX Trust to Distribute Additional $900 Million
Summary
- The US Senate passed a bipartisan resolution opposing a presidential pardon for former FTX Chief Executive Officer Sam Bankman-Fried.
- The resolution does not legally block the president’s pardon power, but formalizes the Senate’s opposition.
- The FTX Recovery Trust said it would make its fifth distribution of about $900 million to creditors, bringing total payouts to about $10 billion.
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The US Senate has adopted a resolution opposing a presidential pardon for former FTX Chief Executive Officer Sam Bankman-Fried. The same day, the FTX Recovery Trust said it would distribute an additional $900 million to creditors.
Cointelegraph reported on July 19 that the Senate passed the bipartisan resolution opposing any administration pardon for Bankman-Fried. The measure cannot legally block the president’s pardon power, but it formalizes the chamber’s opposition.
Bankman-Fried was sentenced in federal court in March 2024 to 25 years in prison on fraud and conspiracy charges tied to FTX’s 2022 collapse. Debate over a possible pardon resurfaced after he applied for one from President Donald Trump in June 2026.
Separately, the FTX Recovery Trust said it would distribute about $900 million to creditors this week. The payment marks the fifth distribution and brings cumulative payouts since FTX filed for bankruptcy to about $10 billion.
Suehyeon Lee
shlee@bloomingbit.ioI'm reporter Suehyeon Lee, your Web3 Moderator.