Ryan Salame, the former head of the Bahamian division of the cryptocurrency exchange FTX, has had his prison sentence reduced by one year. This update comes from the Federal Bureau of Prisons website.

In September 2023, Salame pleaded guilty to criminal charges related to the collapse of FTX. These charges included conspiracy to make unlawful political donations and operating an unlicensed money transmission business.

In late May, the Southern District of New York court sentenced the former CEO of FTX Digital Markets to 90 months (7.5 years) in prison. Salame began serving his sentence in October and was originally scheduled for release in April 2032.

However, as of this writing, the Bureau of Prisons lists a new release date of March 2031. The reasons for this adjustment have not been disclosed.

Sam Bankman-Fried (SBF), co-founder and former CEO of FTX, was found guilty on all counts in November 2023. He was sentenced to 25 years in prison in March 2024, and his legal team has appealed the decision.

Earlier, former Alameda Research CEO Caroline Ellison, FTX’s CTO Gary Wang, and the exchange’s head of engineering Nishad Singh also pleaded guilty to related charges.