Former SBF Girlfriend And FTX Executive Caroline Ellison Moved From Prison
Caroline Ellison, a former FTX executive and ex-girlfriend of its founder Sam Bankman-Fried (SBF), has been moved from prison after serving about half of a two-year sentence
The 31-year-old was transferred on Oct. 16 from Danbury Federal Correctional Institution in Connecticut to a program that includes home confinement or a halfway house, a Federal Bureau of Prisons spokesperson confirmed, according to a Dec .17 report by Business Insider.
“For privacy, safety, and security reasons, we do not discuss the conditions of confinement for any individual, including reasons for transfers or release plans, nor do we specify an individual’s specific location while in community confinement,” the spokesperson said.
Online prison records show that Ellison’s projected release date is Feb. 20, nearly nine months early.
Ellison Pleaded Guilty For Role In FTX Collapse
Ellison pleaded guilty for her role in the $11 billion collapse of FTX and Alameda Research and testified against SBF in his 2023 criminal trial.
Judge Lewis Kaplan cited her “substantial” cooperation but still imposed prison time due to the severity of the fraud, rejecting what he called a “literal get-out-of-free card.”
Ellison reported to the low-security Danbury prison in November 2024 after being a star witness in SBF’s trial.
Ellison had testified that her and Bankman-Friend had secretly used billions of dollars worth of assets that had belonged to FTX customers to make some high-risk trades and strategic investments.
Before being sentenced, Ellison had shown remorse while holding back her tears as she expressed regret for her role in the $11 billion fraud scheme.
“On some level, my brain doesn’t even comprehend all the people I harmed,” Ellison told the court. “That doesn’t mean I don’t try.”
Bankman-Fried Was Sentenced To 25 Years
Ellison’s sentence was light compared to that of Bankman-Fried. The former FTX CEO was handed a 25-year sentence from Judge Kaplan after a jury found him guilty on all seven counts of fraud and conspiracy.
Bankman-Fried remains behind bars at a low-security prison in San Pedro, California. He is in the process of appealing his conviction and sentence. His legal team have also argued that their client should get a new trial after prosecutors unfairly previewed his testimony.
Along with Ellison and Bankman-Fried, the former FTX CEO’s right-hand man Ryan Salame was sentenced to 90 months (7.5 years) in a federal prison. This was after he pleaded guilty to unlawful political contributions and operating an unlicensed money-transmitting business. Salame started his sentence in late 2024.
Meanwhile FTX’s former engineering director Nishad Singh received no prison time and three years of supervised release due to cooperation with prosecutors. The judge had also cited his limited role in the collapse relative to other FTX executives.
FTX co-founder and former CTO Gary Wang was given time served and supervised release. Wang also avoided additional prison time due to early cooperation with authorities.
FTX’s native token plummeted after the exchange’s collapse, and is down more than 69% from its launch price, data from CoinMarketCap shows.
FTT price chart (Source: CoinMarketCap)
In the past week, the crypto’s value plunged another 16%, coinciding with the drop seen in the broader crypto market.
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