Former FTX executive Ryan Salame receives sentence reduction, expected to be released in March 2031

CoinRank News: Former FTX executive Ryan Salame began serving a 7.5-year prison sentence in October 2023 for his involvement in FTXs massive crypto fraud, but his sentence has been shortened by more than a year and he is expected to be released on March 1, 2031. Salame was sentenced for illegal campaign fund donations and operating an unlicensed money transmission business, and his sentence reduction may be related to the 2018 First Step Act, which allows prisoners with good behavior to receive a reduction in sentence. In the same case, FTX founder Sam Bankman-Fried was sentenced to 25 years in prison, and other executives such as Caroline Ellison have also pleaded guilty and been sentenced. (Business Insider)