Sam Bankman-Fried, the disgraced founder of collapsed crypto exchange FTX, has been moved to a low-security federal prison in Los Angeles following a brief stint at one of the country’s most notorious facilities. His new placement, FCI Terminal Island (BOP Number: 37244-510), is known for its calmer environment—especially in contrast to the medium-security Victorville complex, where he was previously housed.
According to the Federal Bureau of Prisons, Bankman-Fried’s transfer followed a brief stop at the Oklahoma Transfer Center, after which he spent nearly two weeks at Victorville—a facility nicknamed “Victimville” due to its violent history. Terminal Island, by contrast, is described by inmates as a “political yard,” offering scenic views, a less aggressive inmate population, and favorable conditions often reserved for non-violent, white-collar offenders.
Prison consultants, including the Zoukis Consulting Group, noted that such placements are common for high-profile financial criminals—especially those with no violent history.
Terminal Island: From Al Capone to Cabinet-Making
Located in the harbor district of San Pedro, just 45 minutes from downtown Los Angeles, FCI Terminal Island once housed Al Capone in 1939. Today, the facility’s 1,000 inmates include figures like video game executive Mouli Cohen and former stockbroker Anthony Elgindy, both convicted of financial fraud.
Bankman-Fried will have access to basic amenities, including a law library, a $360 monthly commissary limit, and vocational programs ranging from plumbing and welding to culinary apprenticeships like baking and cabinet making. The prison also offers rehabilitation courses focused on reentry and wellness. However, reviews of the facility are mixed—one inmate recently described its medical care as “horrible.”
Appeal, Pardon Hopes, and Fading FTX Fallout
Bankman-Fried is currently serving a 25-year sentence for orchestrating one of the largest frauds in crypto history. Convicted in November 2023 on seven counts—including wire, securities, and commodities fraud—he previously spent 18 months at the Metropolitan Detention Center in Brooklyn before being transferred west.
The move to Terminal Island follows an appeal by SBF’s defense team, who cited his autism diagnosis, non-violent background, and high-profile status as reasons for lower-security placement. Their arguments appear to have influenced the Bureau of Prisons’ decision to relocate him to a less volatile facility.
Meanwhile, U.S. interest in the FTX collapse has begun to wane—especially under the Trump administration’s more crypto-friendly regulatory posture. With enforcement actions slowing and public focus shifting toward innovation, the scandal’s urgency in the national conversation has faded.
Bankman-Fried, supported by his parents—both prominent legal scholars—has also filed a formal appeal claiming he was “presumed guilty” before trial. Sources suggest he is exploring a potential presidential pardon from Donald Trump, though no formal steps have yet been confirmed.
Quick Facts
- Sam Bankman-Fried has been transferred to FCI Terminal Island, a low-security federal prison in Los Angeles.
- He was previously held in Brooklyn, Oklahoma City, and Victorville, California.
- SBF is serving a 25-year sentence for orchestrating a multibillion-dollar crypto fraud at FTX.
- He has filed an appeal and is reportedly considering a presidential pardon.
