Caroline Ellison set for early release after FTX collapse
Caroline Ellison, the former CEO of Alameda Research who pleaded guilty to charges related to her role in the collapse of the FTX cryptocurrency exchange, is preparing for early release.
According to Cointelegraph, data from the U.S. Federal Bureau of Prisons as of Wednesday shows that Ellison was transferred to a Residential Reentry Program field office in New York. This marks her first change in custody since arriving at the Danbury Correctional Institution in November 2024.
Ellison was moved to the New York facility in October, though the reason for the transfer was not disclosed. According to the Bureau of Prisons, her release is scheduled for February 20—approximately nine months before the end of her sentence. The reason for the early release remains unclear at the time of publication.
The former Alameda Research CEO was sentenced to two years in prison for her role in the FTX collapse. This is one of the most lenient sentences compared to that of FTX founder and CEO Sam “SBF” Bankman-Fried, who received a 25-year sentence, and former FTX Digital Markets co-CEO Ryan Salame, who was sentenced to 7.5 years after cooperating with prosecutors.
When arguments run out, hope remains
Sam Bankman-Fried’s situation remains far from favorable, yet he has not abandoned hope for clemency or a significant sentence reduction. As previously reported, SBF’s legal team filed an appeal seeking to reduce or overturn the sentence, arguing that the trial was “unfair” and procedurally flawed.
As part of the appeal, hearings were scheduled for November, during which the defense attempted to demonstrate judicial errors. However, legal precedent suggests such appeals can take years. Moreover, sources indicate that the appellate court has expressed skepticism toward the defense’s arguments, making the chances of fully overturning the sentence relatively low. As a result, another potential path to freedom could be seeking a presidential pardon from Donald Trump.
As we wrote, FTX: Empire of illusions and biggest crypto fraud
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