YEREVAN (CoinChapter.com) — Senator John Kennedy questioned SEC nominee Paul Atkins during a March 27 SEC hearing about a possible SBF pardon. He referred to reports that Sam Bankman-Fried’s parents had tried to get their son pardoned by President Donald Trump.
Kennedy raised concerns over political donations made by the Bankman-Fried family to Stanford University. He told Atkins:
“There should not be two standards of law and punishment for people in America. And every time you come to this committee, I am going to pounce on you like a ninja to find out what the SEC has done because I don’t think the SEC has done a damn thing.”
Kennedy also told the committee:
“I read in the paper that the Bankman-Frieds were trying to get a pardon. They are crooks, and I expect the SEC to do something about it.”
This statement followed reports that Joseph Bankman and Barbara Fried, parents of Sam Bankman-Fried, were seeking a presidential pardon for their son.
SBF Pardon Compared to Ulbricht Case
Reports about the SBF pardon appeared in January 2025. The timing followed Trump’s pardon of Silk Road founder Ross Ulbricht. That case involved a darknet marketplace, while the FTX case involves investor losses estimated in the billions.
William Livolsi, head of the White Collar Support Group, said the SBF pardon was unlikely. He explained that the charges against Bankman-Fried involved direct financial harm. In contrast, Ulbricht’s charges related to a contraband website with no confirmed financial victims.
Ulbricht received two life sentences plus 40 years. His supporters ran a long public campaign. Trump had previously said he would pardon Ulbricht if elected.
SEC Hearing Highlights Pressure on Paul Atkins
During the SEC hearing, Paul Atkins was asked if the SEC investigated Stanford University donations linked to the Bankman-Fried family. Atkins did not give a clear answer. Senator Kennedy urged further action from the agency.
The SEC nominee Paul Atkins did not confirm whether an internal probe had started. Kennedy repeated his concern that the SEC was not doing enough to ensure equal law enforcement.
The SEC faced public criticism after the FTX collapse. Several lawmakers said the agency had delayed action. The SEC hearing on March 27 placed more pressure on Atkins to respond to those concerns.
SBF Prison Interview Causes Transfer and Solitary Confinement
In March 2025, Sam Bankman-Fried gave an unsanctioned interview from prison. The interview was with Tucker Carlson and took place without prison approval. As a result, SBF was placed in solitary confinement and later transferred from a New York facility to one in Oklahoma.
The Tucker Carlson interview followed another interview SBF gave to The New York Sun in February 2025. Both outlets are known for their conservative audiences. The interviews raised questions about SBF’s attempts to connect with Republican figures during his incarceration.
Prison officials did not release the full content of the interview. However, they responded by isolating Sam Bankman-Fried and relocating him to a different facility.
Ongoing Scrutiny Over SEC Role in FTX Case
The SEC nominee Paul Atkins continues to face scrutiny after the SEC hearing. Lawmakers have focused on whether the agency has enforced securities law fairly in the FTX case. The SBF pardon reports have added more pressure.
The FTX collapse triggered major losses for investors. The case also raised concerns about political ties and large donations from the Bankman-Fried family.
Atkins did not give new details during the SEC hearing. However, Senator John Kennedy stated he would continue to follow up with the SEC and hold Atkins accountable at future hearings.