Sam Bankman, the FTX’s shamed founder, was sentenced to 25 years in prison for good behavior and planned participation, and is expected to be released in December 2044.
SBF to be released from prison in December 2044
Sam Bankman Fried (SBF), the former CEO of collapsed cryptocurrency exchange FTX, has seen a significant reduction in jail.
The SBF’s verdict was initially sentenced to 25 years for planning a $11 billion fraud, and has been sentenced to more than four years for accumulating “good conduct time” and his involvement in the prison program. Now, he is expected to be released in December 2044.
The development comes after SBF’s conviction in 2023, involving seven counts of fraud and conspiracy charges, related to misuse of client funds between FTX and its sister trading company Alameda Research.
Source: CNBC
After serving his first term at the Brooklyn Metropolitan Detention Center, SBF has been serving a sentence at a low-security federal prison in San Pedro, California. His good conduct and participation in rehabilitation programs such as educational courses and work tasks earned him a verdict under the Federal Prison Guide.
This reduction is consistent with the standard practice of prisoners who show compliance and self-improvement. But the news reignited debate about the severity of his punishment, given the scale of financial damage caused by FTX’s bankruptcy in November 2022, which caused huge losses to thousands of users.
Read more: FTX will distribute more than $5 billion to creditors in phase 2 repayment
SBF’s family lobbying Trump for pardon
Reducing sentences triggered a series of reactions in crypto communities and beyond.
SBF’s legal team continues to appeal his conviction, with a recent filing in April 20025 ruling that it was retried based on alleged judicial bias.
Caroline Ellison, former CEO of Alameda Research and principal witness of the SBF trial, plus legal development, also won the verdict. Ellison was sentenced to two years in prison in 2024 and is now expected to be released in May 2026 after similar good behavior credits.
Meanwhile, SBF parents, Joe Bankman and Barbara Fried, have been lobbying for the president’s pardon. New York Times. They have reportedly contacted their Trump colleagues, although so far, have not been pardoned. These efforts underscore the ongoing legal and public relations battle surrounding SBF, whose actions have had a lasting impact on the cryptocurrency industry.
