THE U.S. SENATE UNANIMOUSLY VOTED AGAINST THE PARDON OF THE FOUNDER OF FTX, SBF

ON 16 JULY, THE UNITED STATES SENATE UNANIMOUSLY ADOPTED ON WEDNESDAY A NON-BINDING RESOLUTION OPPOSING THE PRESIDENTIAL PARDON OR COMMUTATION OF THE SENTENCE OF SAM BANKMAN-FRIED. BANKMAN-FRIED, WHO WAS CONVICTED IN 2023 ON SEVEN COUNTS RELATED TO A CLIENT FRAUD INVOLVING MORE THAN $8 BILLION FTX, IS STILL SERVING HIS SENTENCE AND IS NOT EXPECTED TO BE RELEASED UNTIL AROUND 2044. THE RESOLUTION, LED BY SENATOR LUMIS AND GALLEGO, WAS ADOPTED WITHOUT OBJECTION FOLLOWING THE REQUEST FOR A PARDON BY BANKMAN-FRIED. THE RESOLUTION WAS ADOPTED DESPITE TRUMP ' S PREVIOUS AMNESTY FOR ZHAO CHANG PENG AND UBLISHI AND ITS PUBLIC REFUSAL TO ASSIST BANKMAN-FRIED. THE FACT THAT THE MARKET IS NOT EXPECTED TO RESPOND SIGNIFICANTLY TO THE CASE HIGHLIGHTS THE CONTINUING SCEPTICISM OF BOTH PARTIES OVER THE MOST NOTORIOUS CASE OF FRAUD IN THE AREA OF ENCRYPTED CURRENCY AS A RESULT OF ONGOING REGULATORY REVIEW。