SBF's sentence has been reduced to 2044, with three major reasons for the reduction revealed; ex-girlfriend Caroline is expected to be released from prison around the middle of next year.
The Bureau of Prisons estimates that SBF, the founder of bankrupt cryptocurrency exchange FTX, will be released in December 2044, serving an actual sentence of less than 21 years, equivalent to a reduction of more than 4 years. (Synopsis: Zhu Su opened the gun SBF: FTX stole Three Arrows assets "should pay more", should be jailed for 250 years without amnesty) (Background supplement: SBF's latest prison interview: I give the Republican Party as much money, the Democratic Party can not be saved; Bragging daddy Diddy is "nice" to me) SBF (Sam Bankman-Fried), founder of bankrupt cryptocurrency exchange FTX, was convicted by a US court in March 2024 of seven counts of fraud and conspiracy involving up to $11 billion in fraud, and was sentenced to 25 years in prison. SBF sentence shortened to 2044, reasons for commutation exposed However, according to Business Insider, the Bureau of Prisons estimates that SBF will be released in December 2044, and the actual sentence will be served for less than 21 years, which is equivalent to a reduction of more than 4 years. As for the reasons for the commutation, specifically, they include: Good Conduct Time: Eligible inmates receive a 54-day commutation for every year they serve, and the SBF will accumulate significant days of commutation. Pre-sentencing Detention Period: SBF was detained for violating bail conditions two months before trial, and this period was also counted towards the sentence, further shortening the time he served his sentence. Participation in prison programs: It is understood that inmates can further reduce their sentences by participating in education or vocational training programs in prisons, although foreign media have not clearly reported whether SBF participates in relevant programs, but this is a common way to reduce sentences, and SBF is also expected to obtain a reduction of sentence through this method. It is also worth mentioning that SBF's ex-girlfriend, Caroline Ellison, former CEO of FTX sister company Alameda Research, was sentenced to two years in prison for involvement in the same fraud case, but is expected to be released in May 2026 through a commutation mechanism. FTX's second phase of compensation is about to start In addition, FTX's bankruptcy restructuring plan is also progressing gradually. FTX will launch the second phase of its creditor repayment plan on May 30, 2025, with an expected release of more than $5 billion in proceeds under the Chapter 11 restructuring plan, according to announcements by FTX Trading Ltd. and its affiliated debtors. According to further instructions from the FTX Receivership Team, eligible creditors for this distribution must be approved claimants of the "Convenience Class" and "Non-Convenience Classes" defined in the Plan. These creditors must complete all pre-distribution procedures, including the necessary KYC identity verification procedures, file relevant tax forms, and complete account activation procedures at the designated payment service provider, BitGo or Kraken. Payments are expected to be released via BitGo or Kraken within a few business days after May 30. It is worth noting that different classes of creditors will receive different proportions of payments, e.g. 72% for Class 5A customer claims, 54% for Class 5B U.S. customer claims, and up to 120% for Level 7 convenience level claimants. The payout is based on the U.S. dollar value of the user account balance at the time of FTX's bankruptcy claim in November 2022. Related reports Netflix prepares FTX bankruptcy album SBF and Caroline "Love and Destruction Story" on the screen, powerful cast exposed The big one is coming! FTX's "repayment of huge creditors" of $11.4 billion at the end of May could become a new momentum for the market? SEC new chairman nominee: Crypto regulation should be clear and unambiguous! Promised to further investigate FTX Thunderstorm (SBF sentence shortened to 2044, three major reasons for commutation exposed, ex-girlfriend Caroline expected to be released from prison in the middle of next year) This article was first published in BlockTempo's "Dynamic Trend - The Most Influential Blockchain News Media".
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SBF's sentence has been reduced to 2044, with three major reasons for the reduction revealed; ex-girlfriend Caroline is expected to be released from prison around the middle of next year.
The Bureau of Prisons estimates that SBF, the founder of bankrupt cryptocurrency exchange FTX, will be released in December 2044, serving an actual sentence of less than 21 years, equivalent to a reduction of more than 4 years. (Synopsis: Zhu Su opened the gun SBF: FTX stole Three Arrows assets "should pay more", should be jailed for 250 years without amnesty) (Background supplement: SBF's latest prison interview: I give the Republican Party as much money, the Democratic Party can not be saved; Bragging daddy Diddy is "nice" to me) SBF (Sam Bankman-Fried), founder of bankrupt cryptocurrency exchange FTX, was convicted by a US court in March 2024 of seven counts of fraud and conspiracy involving up to $11 billion in fraud, and was sentenced to 25 years in prison. SBF sentence shortened to 2044, reasons for commutation exposed However, according to Business Insider, the Bureau of Prisons estimates that SBF will be released in December 2044, and the actual sentence will be served for less than 21 years, which is equivalent to a reduction of more than 4 years. As for the reasons for the commutation, specifically, they include: Good Conduct Time: Eligible inmates receive a 54-day commutation for every year they serve, and the SBF will accumulate significant days of commutation. Pre-sentencing Detention Period: SBF was detained for violating bail conditions two months before trial, and this period was also counted towards the sentence, further shortening the time he served his sentence. Participation in prison programs: It is understood that inmates can further reduce their sentences by participating in education or vocational training programs in prisons, although foreign media have not clearly reported whether SBF participates in relevant programs, but this is a common way to reduce sentences, and SBF is also expected to obtain a reduction of sentence through this method. It is also worth mentioning that SBF's ex-girlfriend, Caroline Ellison, former CEO of FTX sister company Alameda Research, was sentenced to two years in prison for involvement in the same fraud case, but is expected to be released in May 2026 through a commutation mechanism. FTX's second phase of compensation is about to start In addition, FTX's bankruptcy restructuring plan is also progressing gradually. FTX will launch the second phase of its creditor repayment plan on May 30, 2025, with an expected release of more than $5 billion in proceeds under the Chapter 11 restructuring plan, according to announcements by FTX Trading Ltd. and its affiliated debtors. According to further instructions from the FTX Receivership Team, eligible creditors for this distribution must be approved claimants of the "Convenience Class" and "Non-Convenience Classes" defined in the Plan. These creditors must complete all pre-distribution procedures, including the necessary KYC identity verification procedures, file relevant tax forms, and complete account activation procedures at the designated payment service provider, BitGo or Kraken. Payments are expected to be released via BitGo or Kraken within a few business days after May 30. It is worth noting that different classes of creditors will receive different proportions of payments, e.g. 72% for Class 5A customer claims, 54% for Class 5B U.S. customer claims, and up to 120% for Level 7 convenience level claimants. The payout is based on the U.S. dollar value of the user account balance at the time of FTX's bankruptcy claim in November 2022. Related reports Netflix prepares FTX bankruptcy album SBF and Caroline "Love and Destruction Story" on the screen, powerful cast exposed The big one is coming! FTX's "repayment of huge creditors" of $11.4 billion at the end of May could become a new momentum for the market? SEC new chairman nominee: Crypto regulation should be clear and unambiguous! Promised to further investigate FTX Thunderstorm (SBF sentence shortened to 2044, three major reasons for commutation exposed, ex-girlfriend Caroline expected to be released from prison in the middle of next year) This article was first published in BlockTempo's "Dynamic Trend - The Most Influential Blockchain News Media".