Former FTX executive Caroline Ellison was on October 16 moved out of the low‑security Danbury Federal Correctional Institution in Connecticut, according to information from Business Insider. The transfer happened quietly and places Caroline closer to release than many expected when she reported to prison last year, though her release date remains February 20, 2026, which is about nine months earlier than the original end of her sentence. Authorities move Caroline into community confinement The Federal Bureau of Prisons explained on Tuesday that Caroline is now serving the rest of her time under less restrictive conditions. Spokesperson Randilee Giamusso, speaking for the Bureau of Prisons, reportedly said:- “That means the individual may be in home confinement or a residential reentry center.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.” Caroline of course entered the Danbury facility in early November 2024 to begin serving a two‑year sentence.The sentence stemmed from her role in a multibillion‑dollar fraud case tied to the collapse of Sam “SBF” Bankman‑Fried’s crypto empire. Caroline had pleaded guilty to conspiring with SBF in an $11 billion scheme connected to FTX and Alameda Research. During the 2023 criminal trial of Sam, Caroline testified for the government, telling jurors that she and SBF used Alameda Research to deploy billions of dollars that were secretly taken from FTX customers. Caroline’s legal team asked the court to avoid incarceration entirely. Kaplan rejected that request and said he would not offer a “literal get‑out‑of‑jail‑free card.” Before sentencing, Caroline addressed the court and apologized, while visibly holding back tears. “On some level, my brain doesn’t even comprehend all the people I harmed. That doesn’t mean I don’t try.” Sam of course received a much harsher outcome, when he was infamously sentenced to 25 years in prison after a jury found him guilty on all seven counts of fraud and conspiracy. Right now, SBF is at a low‑security federal prison in San Pedro, California, but he continues appealing both the conviction and the sentence. His lawyers argue he deserves a new trial because prosecutors unfairly previewed his testimony. Get $50 free to trade crypto when you sign up to Bybit now
