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- GT Airdrop Is Live! 1.92M GT Burned in Q2, Worth Over $39M
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- 📢 #Gate Square Writing Contest Phase 1# is now officially launched!
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📅 End at: July 9, 16:00 UTC
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SBF's sentence has been reduced by over 4 years, with an expected release date set for December 14, 2044.
On May 26, FTX founder Sam Bankman-Fried was sentenced to 25 years in prison for a $11 billion cryptocurrency fraud case, but the U.S. Federal Bureau of Prisons has now set its expected release date at December 14, 2044, and will actually serve less than 21 years, according to Businessinsider. According to the Prison Service, prisoners can receive a reduced sentence of up to 54 days per year for good conduct, and can further reduce their sentences by participating in certain prison programs. Bankman-Fried is currently being held at the FCI-Terminal Island low-security prison in California after he was confirmed to have transferred client funds to his hedge fund, Alameda Research. His ex-girlfriend, Caroline Ellison, the former CEO of Alameda Research, was also sentenced to two years in prison for her involvement in the program, which was also reduced and is expected to be released in May 2026.