Former FTX Digital Markets Co-CEO Ryan Salame will be released from prison earlier than initially planned, according to recent Federal Bureau of Prisons (BOP) records. Salame, who began serving his 7.5-year sentence in October 2023, is now scheduled for release on March 1, 2031 - over a year ahead of the original timeline.
The adjustment comes after Salame pleaded guilty in 2023 to charges related to the multi-billion-dollar fraud scheme at cryptocurrency exchange FTX. He is currently serving his sentence at the Federal Correctional Institution in Cumberland, Maryland.
A BOP spokesman explained that inmates can earn Good Conduct Time (GCT) under the 2018 First Step Act. Under this provision, qualifying individuals may receive up to 54 days off their sentence per year for good behavior.
Salame joined FTX's ecosystem in 2019 after meeting founder Sam Bankman-Fried at a blockchain conference. Before his sentencing, he maintained that former Alameda Research CEO Caroline Ellison, not Bankman-Fried, had directed him to make political contributions.
The sentence reduction follows a pattern of varying penalties for former FTX executives. While Bankman-Fried received 25 years in prison, Ellison's expected release date has moved up to July 2026. Former Chief Engineer Nishad Singh avoided jail time entirely after cooperating with prosecutors.
The developments come as FTX prepares to begin repaying creditors following its dramatic collapse in 2022, when the exchange diverted customer funds for unauthorized purposes before declaring bankruptcy.