The Early Release of Sam Bankman-Fried from Prison
According to a report by Business Insider, Sam Bankman-Fried, the founder and former CEO of the now-defunct crypto exchange FTX, is set to be released from prison in December 2044, more than four years ahead of his original sentence.
Background
In 2023, Bankman-Fried was convicted on seven counts of fraud and conspiracy. In March 2024, he was sentenced to 25 years in prison for his involvement in an $11 billion fraud scheme.
The Case Against Bankman-Fried
Prosecutors presented evidence that Bankman-Fried had diverted customer funds from FTX to Alameda Research, his crypto hedge fund. These funds were allegedly used to support investments, make political contributions, and enrich himself and his inner circle.
Prison Life
Following his sentencing, Bankman-Fried was transferred to a low-security federal prison in San Pedro, California. During his time there, he resided in the same unit as Sean “Diddy” Combs and even participated in a surprise interview with Tucker Carlson.
Early Release
The Federal Bureau of Prisons has confirmed that Bankman-Fried’s sentence has been reduced due to his accumulation of “Good Conduct Time,” participation in prison programs, and credit for time served prior to sentencing. This has led to a projected release date of December 2044.
Co-Conspirator’s Release
Caroline Ellison, former CEO of Alameda and a key witness in the case against Bankman-Fried, was sentenced to two years. She is now expected to be released in May 2026 after similar reductions in her sentence.
For more updates on this story, follow the latest episode of the SBF Pardon Plea Tour featuring an appearance on the Tucker Carlson podcast.