New York, USA – Ryan Salame, a former executive at the now-defunct cryptocurrency exchange FTX, has been sentenced to seven and a half years in prison. This follows his guilty plea in September to charges of conspiracy to make unlawful political contributions, defraud the Federal Election Commission, and conspiracy to operate an unlicensed money transmitting business.
Salame, who was closely associated with FTX founder Sam Bankman-Fried, played a significant role at Alameda Research, Bankman-Fried’s quantitative crypto trading firm, before becoming co-CEO of FTX Digital Markets in 2021. Bankman-Fried himself was sentenced to 25 years in prison in March for misappropriating $8 billion from customers.
US Attorney Damian Williams commented on the sentencing: “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. Salame’s involvement in two serious federal crimes undermined public trust in American elections and the integrity of the financial system.”
In addition to his 90-month prison sentence, Salame will face three years of supervised release and has been ordered to pay over $6 million in forfeiture and more than $5 million in restitution.