Kennedy Grills SEC Nominee on Potential SBF Pardon

During a Senate Banking Committee hearing on March 27, 2025, Senator John Kennedy pressed SEC nominee Paul Atkins on the possibility of a pardon for Sam Bankman-Fried (SBF). Kennedy’s line of questioning focused on the implications of a potential pardon for SBF and the donations made by Bankman-Fried’s family to Stanford University.

Kennedy voiced his strong disapproval of any potential leniency for SBF, stating, \”There should not be two standards of law and punishment in America.\” He emphasized his intention to hold the SEC accountable for its actions or inaction regarding the matter.

Senator Kennedy’s concerns stem from reports in January 2025 suggesting that SBF’s parents were actively seeking a presidential pardon for their son. This followed President Trump’s pardon of Ross Ulbricht, the founder of Silk Road.

The likelihood of SBF receiving a pardon remains low, according to experts who point to key differences between his case and Ulbricht’s. While Ulbricht’s crimes were primarily related to operating an illegal marketplace, SBF faces accusations of causing billions of dollars in investor losses.

Despite the low probability of a pardon, SBF has reportedly attempted to cultivate relationships with Republicans through interviews with various media outlets, including Tucker Carlson. This interview, conducted without prison authorization, resulted in SBF being moved to solitary confinement and transferred to a facility in Oklahoma.