'Someone's Looking for a Pardon': Senators Rebuke Sam Bankman-Fried's Crypto Bill Support
Analysis
Price Impact
LowThe news concerns legislative efforts and political commentary around crypto regulation, specifically the clarity act. while regulatory news can influence the market, this particular event focuses on a specific bill and is overshadowed by broader market forces and the ongoing legal situation of sam bankman-fried. his endorsement is being actively rejected by senators, diminishing its potential impact.
Trustworthiness
HighThe information is directly reported from news outlets and quotes senators cynthia lummis and elizabeth warren, as well as references statements from the new york times and polymarket. the details about sbf's conviction, sentencing, and his social media activity are factual and widely reported.
Price Direction
NeutralThis news is primarily about legislative and political dynamics rather than direct market catalysts for major cryptocurrencies. the rejection of sbf's support by senators indicates that his involvement is unlikely to sway the bill's passage or directly impact major coin prices in the short term. the market's reaction to regulatory news is often delayed and dependent on the final outcome of legislation.
Time Effect
LongThe long-term effect could be significant if the clarity act eventually passes or fails, as it relates to crypto regulation in the u.s. however, the immediate price impact from this specific news event, which involves political pushback and a widely condemned endorsement, is expected to be minimal in the short term. the market will likely wait for clearer legislative developments.
Original Article:
Article Content:
In brief Senators from both major parties pushed back against Sam Bankman-Fried's support of the Clarity Act on social media. Wyoming Senator Cynthia Lummis said SBF's support wasn't wanted or needed. The disgraced crypto founder is serving a 25-year prison sentence for his role in the collapse of FTX. While some U.S. lawmakers have backed the crypto market structure bill—the Clarity Act—and are seeking broader support, senators from both sides of the aisle made it clear this week that they do not want it from disgraced crypto entrepreneur Sam Bankman-Fried. The imprisoned founder and former CEO of collapsed crypto exchange FTX had posted on X in support of the bill (via a proxy), but Republican Senator Cynthia Lummis and Democrat Senator Elizabeth Warren separately condemned his message. "Someone’s looking for a pardon and doesn’t realize the Clarity Act would have you locked up for much longer than 25 years,” Wyoming Senator and crypto advocate Lummis posted on X after a post from Bankman-Fried, also known as SBF, praised the proposed bill and suggested its passage would be a win for President Donald Trump. Someone’s looking for a pardon and doesn’t realize the Clarity Act would have you locked up for much longer than 25 years. My legislation couldn’t be more different than the bill you tried to buy from Congress over my objection in 2022. We do not need—nor want—your support. https://t.co/JlywsCh3ry — Senator Cynthia Lummis (@SenLummis) February 26, 2026 “My legislation couldn’t be more different than the bill you tried to buy from Congress over my objection in 2022,” Lummis added. “We do not need—nor want—your support.” Lummis was joined in opposition to SBF’s post by crypto skeptic and Massachusetts Senator Warren, who said the FTX founder’s endorsement of the bill should “set off alarm bells.” “Any crypto market structure bill must protect investors, our financial system, and American taxpayers,” posted Warren , further calling Bankman-Fried a “fraudster who stole at least $8 billion from customers using his crypto exchange.” SBF’s latest social media post continues a recent streak of pro-Trump posts that many view as naked attempts to earn a pardon for his crimes. The FTX founder was found guilty on seven counts of fraud and conspiracy at his 2023 trial following the November 2022 collapse of the prominent exchange amid a liquidity crisis. In 2024, he was sentenced to 25 years in prison for his role in stealing billions in customer funds via his trading firm Alameda Research. Sam Bankman-Fried, the fraudster who stole at least $8 billion from customers using his crypto exchange, just endorsed the CLARITY Act. That should set off alarm bells. Any crypto market structure bill must protect investors, our financial system, and American taxpayers. https://t.co/a0V6SPOgE3 — Elizabeth Warren (@SenWarren) February 25, 2026 Despite the push, President Trump has already ruled out chances for a pardon for Bankman-Fried , according to a report from the New York Times. Last year, Trump granted pardons to multiple crypto personalities, including BitMex founder Arthur Hayes and his colleagues, Binance founder and former CEO Changpeng “CZ” Zhao , and Silk Road creator Ross Ulbricht . It’s unclear whether Bankman-Fried’s support of the Clarity Act from behind bars will have any impact on the bill’s passing. Odds of it being signed into law have dropped around 16% in the last week, according to prediction market Polymarket , now standing at 69% to be signed before the end of the year. Members of the Trump administration have been outspoken about the need to get the bill passed , with U.S. Treasury Secretary Scott Bessent recently saying that “clarity on the Clarity bill would give great comfort to the market.” Last month, prominent crypto exchange Coinbase pulled its support for the bill over a markup that would limit crypto firms from providing yield on stablecoin holdings. Daily Debrief Newsletter Start every day with the top news stories right now, plus original features, a podcast, videos and more. Your Email Get it! Get it!