Ryan Salame Indirectly Funding Michelle Bond’s Political Campaign

CEO of FTX Digital Markets Co, Ryan Salame appears to be funding Michelle Bond’s campaign for the US Congress. The latter who happens to be his girlfriend indicated her interest to run for Congress as a Republican in New York’s 1st congressional district. 

Michelle bond who refers to herself as an “America First conservative,” is the CEO of the Association for Digital Asset Markets (ADAM), a crypto trade organization. She prides herself as an all-time crypto advocate but is not running a crypto-centric campaign.

Her boyfriend, Ryan has had his face all over her campaign through his crypto donations. Ryan had gone ahead to support a Political Action Committee (PAC) running her campaign. So far, his contribution to the PAC is over $100,000 just to boost her campaign.

Generally, in the 2022 election process alone he has donated his money running into millions on campaigns.

As part of the crypto heavyweights who launched GMI PAC, he has given over $1.5 million. The PAC was launched as an organization that campaigns for particular political policies, and that gives money to political parties or candidates who support those policies.

Meanwhile, PACs does not involve in direct spending to boost or fund campaigns, instead, they donate to crypto-inclined super PACs of which Crypto Innovation PAC is one of them. Therefore, GMI PAC has contributed about $1.1 million to Crypto Innovation PAC which is believed to be in the favour of Michelle Bond. 

Is Ryan’s GMI PAC Donation Illegal?

Based on records, Crypto Innovation PAC has disbursed $115,000 for text messages, direct mails and various communication media adverts for Bond’s campaign. As against several undeclared oppositions, Ryan is yet to go against the Federal Election Commission laws according to campaign experts. 

In view of his donations, many has raised their brows insinuating that he is coordinating with the GMI PAC to mastermind the campaign. Leaders of the GMI PAC responded to the accusation denying anything of such.

According to a GMI PAC statement, 

“Mr. Salame is not involved in any GMI PAC communications or decisions related to the NY-1 House seat. Furthermore, Mr. Salame has no role or involvement with any third party organizations that GMI PAC has funded related to that election.” 

It is not uncommon to find crypto features in American elections. From Bitcoin advocate, Eric Adam campaigning and winning New York Mayoral seat to Francis Suarez’s advocacy for crypto and Bitcoin as Miami’s Mayor, the interest in crypto among the political elites is growing remarkably.