According to The Washington Post, the prison sentences of two former FTX cryptocurrency exchange executives seem to have been reduced. According to information from the U.S. Federal Bureau of Prisons website, Ryan Salame began serving his 7.5-year sentence in October 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 original two-year sentence. FTX filed for bankruptcy in 2022 due to questions about its financial condition and its relationship with sister trading firm Alameda Research, leading to a rapid withdrawal of funds by customers, similar to a bank run. Authorities later accused FTX of misappropriating customer funds for personal use and to repay loans owed to Alameda Research and other projects. This scandal led to a stunning downfall for FTX, once the world's third-largest cryptocurrency exchange, and its founder, Sam Bankman-Fried (SBF). Salame was the former co-CEO of FTX's Bahamian subsidiary and admitted to operating an unlicensed remittance business, violating campaign finance laws. Ellison was the former CEO of Alameda and pleaded guilty in December 2022 to charges of wire, securities, and commodities fraud, as well as money laundering.