Ryan Salame, a former top executive at the now-defunct crypto exchange FTX, is set to be released from prison on March 1, 2031, one year ahead of his original seven-and-a-half-year sentence. The early release stems from good behavior credits earned under the 2018 First Step Act.
Salame began serving his sentence in October 2022 at a Maryland prison and can earn up to 54 days off his sentence each year through Good Conduct Time (GCT). This policy allows qualifying individuals to reduce their sentences by earning GCT, which is projected on their release date.
Salame’s reduced sentence comes as the crypto industry continues to grapple with the fallout from FTX’s collapse in November 2022. The former Bahamas-based executive pleaded guilty to charges related to the misuse of customer funds and orchestrated fraudulent trading schemes.
His early release has drawn attention, particularly amidst speculation about a potential presidential pardon for FTX founder Sam Bankman-Fried, who faces a 25-year prison sentence for his role in the scandal.
Source: https://www.ccn.com/news/crypto/ftx-ryan-salame-serve-less-time-release-moves-up