Sam Bankman-Fried, former FTX chief executive, is now scheduled to leave prison on December 14, 2044. This updated release date shortens his sentence by more than four years due to earned credits and pretrial detention. The Bureau of Prisons made this change by factoring in conduct, early programs, and the two months he served before sentencing.
In March 2024, a 25-year prison sentence was imposed on Sam Bankman-Fried for his cryptocurrency fraud scheme. He was tried and convicted on seven counts related to a collapse in the financial system that impacted numerous users. Prosecutors had evidence that he had used his customers’ funds by transferring them to Alameda Research, a fund he had started.
That scheme allowed Bankman-Fried and close associates to control billions of dollars not intended for personal use. Prosecutors described the misconduct as a fraud that resulted in around $11 billion in lost funds. During his detention in Brooklyn, Bankman-Fried was briefly housed with other high-profile inmates.
Bankman-Fried transferred to california prison facility
After time in the Metropolitan Detention Center, officials moved him to a low-security prison in California. That facility, FCI Terminal Island, currently houses about 850 male inmates and offers several programs. These programs, along with good behavior credits, may reduce his sentence by nearly four and a half years.
Bankman-Fried lost his bail privileges before trial due to sharing private writings from Caroline Ellison. She was the former CEO of Alameda Research and cooperated with prosecutors during the investigation. Ellison received a two-year sentence and is expected to be released in May 2026.
The Bureau of Prisons allows inmates to earn 54 days off per year for good conduct. Those eligible may also reduce their time by participating in prison-based programs. Sam Bankman-Fried’s early release reflects how those policies can shorten long-term sentences for federal inmates.
