Sam Bankman-Fried Now Serving Time at Prison Once Home to Al Capone

Sam Bankman-Fried, the former CEO of collapsed crypto exchange FTX, has been moved to a federal prison in California, according to an update from the U.S. Bureau of Prisons.

After a brief stay at the Federal Correctional Institution in Victorville, Bankman-Fried was transferred to the Terminal Island facility in Los Angeles. The prison previously housed notable inmates including notorious gangster Al Capone and former Theranos COO Ramesh “Sunny” Balwani.

Bankman-Fried was convicted in November 2023 on seven counts of fraud related to the collapse of FTX and Alameda Research, which left billions in customer funds missing.

His parents, Joseph Bankman and Barbara Fried, are reportedly seeking a presidential pardon for their son, according to Bloomberg News.

Bankman-Fried was previously held at the Metropolitan Detention Center in Brooklyn during his trial and sentencing, where he was convicted on seven felony counts in 2024. His relocation follows controversy surrounding a jailhouse interview with political commentator Tucker Carlson.

Carlson’s interview with SBF was not approved by prison authorities and reportedly triggered disciplinary measures, including the temporary solitary placement.

The former crypto executive was initially allowed to remain in New York to assist his legal team with appealing the conviction and 25-year sentence. His transfer to the West Coast could complicate that effort, as access to counsel and court proceedings may be more limited from his current location.

Bankman-Fried’s move comes amid growing speculation that he may be seeking a political lifeline through a potential pardon. Since President Donald Trump’s return to office, reports suggested that SBF could be reaching out to conservative circles in hopes of gaining favor.

Trump previously granted clemency to high-profile crypto figures, including Silk Road founder Ross Ulbricht, whose case drew strong libertarian support. Ulbricht is expected to make a public appearance at the upcoming Bitcoin 2025 conference in Las Vegas.

Since his bail was revoked in August 2023 over allegations of witness tampering, Bankman-Fried bounced between several detention centers. His current projected release date is November 2044, though he may become eligible for earlier release depending on his conduct in custody.

While Bankman-Fried faces a lengthy prison term, other FTX insiders have seen varied outcomes. Caroline Ellison and Ryan Salame are serving time in separate facilities, while Gary Wang and Nishad Singh were sentenced to time served after cooperating with prosecutors.