Editor's Pick

Former FTX Exec Ryan Salame Gets 7.5 Years In Prison

Former FTX executive and Sam Bankman-Fried (SBF) associate Ryan Salame has been sentenced to 7.5 years in prison for criminal charges stemming from his time at SBF’s crypto exchange following a Tuesday morning hearing at Manhattan federal court.

Salame had originally requested a sentence of 18 months in prison while U.S. prosecutors pushed for the former head of FTX’s Bahamian subsidiary, FTX Digital Markets, to get five to seven years.

Salame pleaded guilty to operating an illegal money-transmitting business and making unlawful political contributions in October 2023. He has repeatedly denied knowledge of FTX stealing customer funds.

“Ryan Salame agreed to advance the interests of FTX, Alameda Research, and his co-conspirators through an unlawful political influence campaign and through an unlicensed money transmitting business, which helped FTX grow faster and larger by operating outside of the law,” said U.S. Attorney Damian Williams. “Salame’s involvement in two serious federal crimes undermined public trust in American elections and the integrity of the financial system. Today’s sentence underscores the substantial consequences for such offenses.”

He is the first FTX executive outside of Bankman-Fried to be sentenced.

Editorial note: This story is currently being added to. For the full story check back soon as we add more information and/or perspectives from those involved.

The post Former FTX Exec Ryan Salame Gets 7.5 Years In Prison appeared first on Cryptonews.

What's your reaction?

Excited
0
Happy
0
In Love
0
Not Sure
0
Silly
0

You may also like