Odaily Planet Daily News According to The Washington Post, the sentences of two former executives of the cryptocurrency exchange FTX appear to have been reduced. According to the information from the Federal Bureau of Prisons website, Ryan Salame began serving his sentence in October for 7 and a half years and is now expected to be released in March 2031. Caroline Ellison's current expected release date is July 2026, which is a few months less than her initial two-year sentence. FTX filed for bankruptcy in 2022 due to questions regarding its financial situation and its relationship with its sister trading company Alameda Research, leading to clients rapidly withdrawing funds, similar to a bank run. Authorities later accused FTX of misappropriating client funds for personal use, to pay off loans owed to Alameda Research, and for other projects. This scandal led to a stunning downfall for FTX, once the third-largest cryptocurrency exchange in the world, and its founder SBF. Salame is the former co-CEO of FTX's Bahamas subsidiary, and he admitted to operating an unlicensed money transfer business, violating campaign finance laws. Ellison is the former CEO of Alameda, and she pleaded guilty in December 2022 to telecommunications, securities and commodity fraud, as well as money laundering.