FTX founder Sam Bankman-Fried (SBF) is unlikely to serve the full 25-year sentence handed down for his role in one of the largest financial frauds in recent history.
While still on probation, SBF could see up to four years shaved off his term due to good behaviour and participation in approved prison programmes.
According to the Federal Bureau of Prisons (BOP), his expected release date is now 14 December 2044—nearly 21 years from his sentencing.
In addition to prison time, he was ordered to pay over $11 billion in restitution.
Federal prison records also indicate that SBF has been transferred from a New York facility after serving nearly two years there.
A BOP spokesperson confirmed that his projected release reflects standard reductions under the agency’s Good Conduct Time guidelines.
The BOP allows eligible inmates to earn up to 54 days off their sentence each year through good behaviour, with additional reductions possible through participation in approved prison programmes.
These incentives are part of broader efforts to promote rehabilitation and reduce prison time for qualifying individuals.
The BOP representative explained:
“Lastly, individuals may also receive credit for time incarcerated before their date of sentencing.”
Notably, two of SBF’s former senior associates—Ryan Salame and Caroline Ellison—have also benefited from these sentence-reduction measures.
In May, Salame, a former FTX executive, pleaded guilty to criminal fraud and received a seven-and-a-half-year sentence.
His projected release has since been moved up to 31 December 2030—nearly two years earlier than the original 20 April 2032 date.
Ellison, the former CEO of Alameda Research and a key witness in SBF’s trial, was sentenced to two years after admitting guilt to seven federal charges, including fraud and conspiracy.
Her new release date is now set for 31 May 2026, advancing her release by roughly three months, according to BOP records.
SBF began his incarceration at the Metropolitan Detention Center in Brooklyn—a facility known for its harsh conditions and high-profile detainees.
At one point, he reportedly shared a dorm-style room with rapper Sean “Diddy” Combs, who was facing charges related to sex trafficking.
A surprise interview with Tucker Carlson in that shared space sparked controversy and ultimately led to a change in SBF’s custody status.
Shortly after the interview aired, he was transferred to FCI Terminal Island, a low-security federal prison in San Pedro, California, which houses roughly 850 male inmates, according to the BOP.
Meanwhile, SBF’s parents, Stanford law professors Joseph Bankman and Barbara Fried, are reportedly pursuing a presidential pardon for their son.
They have been in discussions with legal experts and figures connected to President Donald Trump’s administration.
While a pardon remains uncertain, SBF has received a measure of relief: his projected release date has been moved up by four years thanks to good conduct and participation in prison programmes—a small but notable development in his ongoing legal saga.
After years of legal battles and bankruptcy proceedings, former FTX customers are finally on track to receive partial compensation for their frozen assets.
Starting 30 May 2025, eligible claimants will begin receiving distributions through court-approved platforms BitGo and Kraken.
Users with validated claims have been contacted via email by court-appointed agents, urging them to complete identity verification and select their preferred payout provider.
FTX halted withdrawals in November 2022, locking billions of dollars in user deposits amidst revelations of financial misconduct and illicit fund transfers between FTX and its sister firm, Alameda Research.
Under the court-sanctioned reorganisation plan, creditors with claims exceeding $50,000 will receive 72.5% of their approved claim amount in the first wave of distributions.
The remaining 27.5%—along with any post-petition interest—will be paid in subsequent rounds.
To access their funds, customers must log into the FTX claims portal, complete Know Your Customer (KYC) and tax compliance checks, and confirm how they wish to receive their compensation.
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