FTX executives shave serious time off their sentences
FTX executives Ryan Salame and Caroline Ellison have both shaved time off their lengthy prison sentences.
(CNN) — Ryan Salame and Caroline Ellison, FTX executives convicted for their roles in the notorious crypto fraud led by their former boss Sam Bankman-Fried, have both shaved time off their lengthy prison sentences.
Salame, a former top executive of FTX, the now-bankrupt cryptocurrency trading platform, pleaded guilty to criminal fraud charges in September 2023, and was sentenced in May to 7 1/2 years in federal prison. He began his sentence in October. But the Federal Bureau of Prisons currently lists his release date as March 1, 2031, more than a year earlier than his initial release date in April 2032. Business Insider first reported Salame’s new release date.
Ellison, Bankman-Fried’s former girlfriend and the former CEO of FTX’s hedge fund arm, Alameda Research, was sentenced to 2 years in prison after she pleaded guilty to seven federal counts of fraud and conspiracy and was a key witness against Bankman-Fried. Her current release date is listed as July 20, 2026, three months earlier than her initial release date.
Bankman-Fried, who was sentenced to 25 years in prison, does not have a release date listed on the prisons website.
The Bureau of Prisons didn’t immediately respond to CNN’s request for comment. However, in several past statements about early release dates, the bureau has told CNN that it does not comment on the conditions of any individual inmate, but inmates can earn good conduct time that is calculated into their projected release date.
Qualified inmates are currently eligible for up to 54 days of GCT time for each year of the sentence imposed by the court. Inmates have other ways of earning time credits while incarcerated, including participation in various prison programs.
FTX was a high-profile crypto startup that allowed people to buy and sell digital assets. It had its name emblazoned on an arena in Miami and on every Major League Baseball umpire’s jersey. The exchange had several celebrity endorsers and was widely believed to be a gold-standard for safety and security.
But FTX collapsed in November 2022 when customers pulled their funds as rumors spread about FTX’s unusually close ties to its founder’s crypto hedge fund, Alameda Research.
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