Crypto Exchanges
By James Thorp
1 / 15
FTX's Collapse Still Echoes. The backdrop here matters. FTX didn't just fail — it collapsed in a way that wiped out customer…
2 / 15
Bipartisan Agreement in a Divided Chamber. Getting 100 senators to agree on anything is genuinely unusual.
3 / 15
What Comes Next for Bankman-Fried. The legal process grinds forward. Bankman-Fried's representatives haven't said anything publicly…
4 / 15
Every single U.S. senator said no. Not one dissent. The Senate passed a resolution opposing clemency for Sam Bankman-Fried, the former FTX founder, with zero votes against it — a…
5 / 15
The resolution is blunt: Bankman-Fried should "under no circumstances" receive a pardon. That's the language lawmakers agreed on. No wiggle room, no diplomatic softening.
6 / 15
The Senate can't actually block a pardon through a resolution like this. Executive clemency power sits with the president, and no Senate vote changes that legal reality.
7 / 15
The backdrop here matters. FTX didn't just fail — it collapsed in a way that wiped out customer funds, rattled the broader crypto market, and triggered a wave of regulatory…
8 / 15
Allegations against him centered on financial misconduct and mismanagement of customer funds. Legal proceedings followed.
9 / 15
No comment came from Bankman-Fried or his legal team after the resolution passed. Unclear if that changes.
10 / 15
Getting 100 senators to agree on anything is genuinely unusual. The Senate is famously divided on almost every significant issue, and bipartisan consensus at this scale is pretty…
11 / 15
See also: Senate AG Nominee Faces Grilling Over DOJ Crypto Unit Cuts and Zhao Pardon
12 / 15
It's not just about one man. The resolution's passage fits into a larger pattern of congressional attention on crypto's governance failures.
13 / 15
The crypto industry has faced sustained scrutiny since FTX went under. Calls for tighter oversight, clearer rules around customer fund segregation, and stronger enforcement have…
14 / 15
What the resolution won't do is touch the actual legal proceedings. Those continue on their own track.
15 / 15
But politics and legal outcomes aren't completely disconnected either. Public sentiment, political pressure, and the optics around a clemency decision can all factor into how…
The Currency Analytics
Want the full story?