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.
My legislation couldn’t be more different than the bill you tried to buy from Congress over my objection in 2022.
“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.”
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.
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.
