Sam Bankman-Fried Could Leave Prison by 2044 After Sentence Reductions for Good Behavior

Sam Bankman-Fried, the disgraced founder and former CEO of the now-defunct cryptocurrency exchange FTX, may be released from prison as early as December 2044. This is more than four years earlier than the original 25-year sentence he received in March 2024. The potential early release, reported by Business Insider, is tied to reductions in his prison term for good behavior and participation in prison programs.

Convicted of Massive Fraud, Now Serving Time in Low-Security Prison With Celebrities

Bankman-Fried was convicted in 2023 on seven counts, including fraud and conspiracy, for his role in one of the largest financial crimes in recent history—an $11 billion scheme involving the misappropriation of customer funds. The court found that he diverted money from FTX to his hedge fund, Alameda Research, using it for speculative investments, political contributions, and personal enrichment.

Following his sentencing, Bankman-Fried was transferred to a low-security federal facility in San Pedro, California, after spending time in Brooklyn’s Metropolitan Detention Center. Notably, he shared his prison unit with other high-profile inmates such as music mogul Sean “Diddy” Combs. During his incarceration, he granted a surprise interview to media personality Tucker Carlson.

Sentence Reductions Granted Through Good Conduct, Prison Programs, and Pre-Sentencing Time Served

The Federal Bureau of Prisons indicated that Bankman-Fried’s early release is due to “Good Conduct Time,” which allows federal inmates to shave off up to 54 days per year for good behavior. Additionally, he has been involved in unspecified prison programs, which also contribute to sentence reduction. Time served prior to formal sentencing is also taken into account.

Caroline Ellison, former CEO of Alameda Research and a central figure in the prosecution’s case against Bankman-Fried, received a significantly lighter sentence. Initially sentenced to two years in prison, her projected release date has been moved up to May 2026, also due to similar sentence reductions. Her testimony played a crucial role in securing the conviction of Bankman-Fried.