Former FTX Exec Ryan Salame Starts Over 7 Year Prison Term

Former FTX Digital Markets co-CEO Ryan Salame has officially started serving his seven-and-a-half-year prison sentence. Once a key figure at FTX, he now resides in FCI Cumberland, Maryland, a medium-security federal prison. 

According to the Federal Bureau of Prisons, Salame entered the facility on Saturday morning. In the days leading up to his incarceration, Ryan Salame posted a lighthearted message on LinkedIn. The write-up humorously stated, “I’m happy to share that I’m starting a new position as Inmate at FCI Cumberland.”

Ryan Salame Charges: Guilty Pleas and Unlawful FTX Contributions

Salame’s legal woes stem from his involvement in a conspiracy to make unlawful political contributions. His guilty plea to these charges ultimately led to his prison sentence. As a former top executive at FTX, Salame worked closely with founder Sam Bankman-Fried (SBF) and played a pivotal role in SBF’s conviction. Bankman-Fried is now serving nearly 25 years in prison. Similarly, former Alameda CEO Caroline Ellison received a two-year sentence for her involvement in the collapse of FTX. 

Salame’s legal team sought to postpone his prison sentence until December. They cited the need for medical treatment following his dog bite injury in the past months. However, U.S. District Judge Lewis Kaplan denied the request, noting that Salame seemed to have substantially recovered. The judge pointed to Salame’s recent interview with Tucker Carlson as proof of his physical recovery.

Salame Blames Judge and Prosecutors as Partner Faces Charges

In Salame’s recent interview, he criticized Judge Kaplan’s handling of his case. He accused him of fabricating claims about his financial dealings before FTX filed for bankruptcy. 

Salame did not stop at public commentary. He accused prosecutors of using plea negotiations to threaten his partner, Michelle Bond, who is also facing legal trouble. However, prosecutors dismissed Salame’s accusations as factually baseless.

Salame’s partner, Michelle Bond, is entangled in her legal challenges. She was criminally charged for conspiring in an unlawful campaign finance scheme. US authorities alleged that she used a $400,000 sham consulting agreement with FTX to finance her campaign. In 2022, Bond ran for a U.S. House seat, which turned out unsuccessfully. 

The End of One Era, the Start of Another

Despite his legal battles, Salame remains defiant and forward-thinking. During his interview with Carlson, he shared his plans to make productive use of his time behind bars. He disclosed that he would teach a course on digital assets and the economy while in prison

As he begins this next chapter, his legacy remains uncertain. Nevertheless, Salame seems determined to remain a voice in the crypto world