Sam Bankman-Fried may serve only 21 years of the 25-year jail sentence given by New York District Judge Lewis Kaplan due to good conduct.
By Godfrey Benjamin
Editor Hamza Tariq
Updated
3 mins read
FTX founder Sam Bankman-Fried (SBF) is unlikely to serve the full 25 years of his prison sentence. Although he remains on probation, he could have up to 4 years reduced from his sentence due to good conduct and participation in prison programs since his incarceration.
According to Business Insider, the Bureau of Prisons (BOP) estimates that Sam Bankman-Fried (SBF) will be released on December 14, 2044. This is significantly earlier than the full 25-year sentence handed down for his role in the collapse of FTX, the Bahamian-based cryptocurrency exchange he founded.
A BOP representative calculated the release dates after considering the projected “Good Conduct Time.”
The bureau also noted that qualifying people serving prison time can earn 54 days for each year of their sentence. Certain prison-offered programs are drafted as part of initiatives that can reduce incarcerated individuals’ jail time.
“Lastly, individuals may also receive credit for time incarcerated before their date of sentencing,” the BOP representative told Business Insider.
It’s worth noting that Caroline Ellison, Bankman-Fried’s partner and former CEO of Alameda Research, qualifies for early release. She was sentenced to 2 years in prison and is expected to be released by May 2026.
This timeline suggests that she had up to six months shaved off her prison sentence.
In November 2023, Bankman-Fried was found guilty of seven counts of fraud and criminal conspiracy, which amounted to seven charges against him.
For context, he was guilty of two counts of wire fraud, two counts of wire fraud conspiracy, one count of commodities fraud conspiracy, one count of securities fraud, and one count of money laundering conspiracy.
In all of these, SBF pleaded guilty to all the charges. He also blamed other top executives, like Ellison and FTX co-founder Gary Wang. Each crime he was charged with carried a maximum prison sentence of between 5 and 20 years.
At the time, his legal team sought a shorter prison sentence of 63 to 78 months, approximately 6.5 years. In March 2024, New York District Judge Lewis Kaplan pronounced a 25-year jail sentence for Bankman-Fried.
The FTX founder was first held in the notorious Metropolitan Detention Center in Brooklyn. Sean “Diddy” Combs, the dapper rapper who was charged with sex trafficking, was the roommate of SBF at the time. It was a surprise March interview with Tucker Carlson in this dorm-style room that changed his assigned prison status.
After the interview, he was transferred to FCI-Terminal Island prison in San Pedro. According to the BOP, this particular prison houses about 850 low-security male inmates.
There are talks about Joseph Bankman and Barbara Fried, SBF’s parents, actively seeking a presidential pardon for their son. They have reportedly been discussing with legal experts and top entities linked to US President Donald Trump’s administration.
Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
Benjamin Godfrey is a blockchain enthusiast and journalist who relishes writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desire to educate people about cryptocurrencies inspires his contributions to renowned blockchain media and sites.
