Jump to content

Ryan Salame: Difference between revisions

From Prisonpedia
← Older edit
VisualWikitext
Quality fixes: See Also links, formatting
Maintenance: add DEFAULTSORT so the page files under surname
 
(8 intermediate revisions by 3 users not shown)
Line 1: Line 1:
{{Infobox Person
{{Infobox Person
| name = Ryan Salame
|name = Ryan Salame
| image =
|image =
| birth_date = 1994
|birth_date = 1993
| birth_place = United States
|birth_place = United States
| conviction = Conspiracy to make unlawful political contributions, conspiracy to operate an unlicensed money transmitting business
|residence = Potomac, Maryland
| sentence = 7.5 years in federal prison
|charges = Conspiracy to make unlawful political contributions and defraud the Federal Election Commission; conspiracy to operate an unlicensed money transmitting business
| facility = [[FCI_Cumberland_(medium-security)|FCI Cumberland]]
|conviction_date = September 7, 2023
| status = Incarcerated
|sentence = 90 months (7.5 years) federal prison, 3 years supervised release
|sentencing_date = May 28, 2024
|forfeiture = More than $6 million
|restitution = More than $5 million
|judge = Hon. Lewis A. Kaplan
|case_number = 1:23-cr-00501 (S.D.N.Y.)
|facility = FCI Cumberland
|status = Incarcerated
|occupation = Former cryptocurrency executive
|known_for = Co-CEO of FTX Digital Markets; political donor in the FTX campaign finance case
}}
}}


'''Ryan Salame''' is an American former cryptocurrency executive who served as co-CEO of FTX Digital Markets, the Bahamian subsidiary of the FTX cryptocurrency exchange. Unlike other FTX executives who cooperated with prosecutors, Salame pleaded guilty but did not become a cooperating witness against Sam Bankman-Fried. In May 2024, he was sentenced to 7.5 years in federal prison for campaign finance violations and operating an unlicensed money transmitting business—the harshest sentence of any FTX executive who pleaded guilty.
'''Ryan Salame''' is an American former cryptocurrency executive. He served as co-CEO of FTX Digital Markets, the Bahamian subsidiary of the cryptocurrency exchange FTX. On September 7, 2023, he pleaded guilty in the Southern District of New York to two federal conspiracy counts. The first was conspiracy to make unlawful political contributions and defraud the Federal Election Commission. The second was conspiracy to operate an unlicensed money transmitting business.<ref name="cnbcplea">{{cite news |last=Goswami |first=Rohan |title=Former FTX executive Salame to forfeit $1.5 billion, pleads guilty to two criminal counts |url=https://www.cnbc.com/2023/09/07/former-ftx-exec-salame-to-forfeit-1point5-billion-pleads-guilty-to-two-criminal-counts.html |work=CNBC |date=2023-09-07 |access-date=2026-06-03}}</ref><ref name="cnnplea">{{cite news |last=Morrow |first=Allison |title=Former FTX executive Ryan Salame will forfeit $1.5 billion after pleading guilty to criminal charges |url=https://www.cnn.com/2023/09/07/business/ryan-salame-criminal-charges-ftx |work=CNN Business |date=2023-09-07 |access-date=2026-06-03}}</ref>


== Early Life and Education ==
On May 28, 2024, U.S. District Judge Lewis A. Kaplan sentenced Salame to 90 months in prison, a term of seven and a half years. The sentence was higher than the five to seven years prosecutors had requested. It was far above the 18 months his defense had asked for.<ref name="cnbcsentence">{{cite news |last=Goswami |first=Rohan |title=FTX exec who turned on Sam Bankman-Fried sentenced to 7.5 years in prison |url=https://www.cnbc.com/2024/05/28/ftx-ryan-salame-sentenced.html |work=CNBC |date=2024-05-28 |access-date=2026-06-03}}</ref><ref name="coindesksentence">{{cite news |last=Reynolds |first=Cheyenne Ligon |title=Former FTX Executive Ryan Salame Sentenced to 7.5 Years in Prison |url=https://www.coindesk.com/policy/2024/05/28/former-ftx-executive-ryan-salame-sentenced-to-75-years-in-prison |work=CoinDesk |date=2024-05-28 |access-date=2026-06-03}}</ref> The court also ordered three years of supervised release, more than $6 million in forfeiture, and more than $5 million in restitution.<ref name="coindesksentence"/><ref name="theblock">{{cite news |title=Former FTX executive Ryan Salame begins his seven and a half year prison sentence |url=https://www.theblock.co/post/320749/former-ftx-executive-ryan-salame-begins-his-seven-and-a-half-year-prison-sentence |work=The Block |date=2024-10-11 |access-date=2026-06-03}}</ref> Salame reported to FCI Cumberland in Maryland on October 11, 2024.<ref name="cnnlinkedin">{{cite news |last=Goldman |first=David |title=Former top FTX executive has updated his LinkedIn profile. His new role? Prison inmate |url=https://www.cnn.com/2024/10/11/business/ryan-salame-ftx-linkedin-profile-prison-intl-scli/index.html |work=CNN Business |date=2024-10-11 |access-date=2026-06-03}}</ref><ref name="dailyhodl">{{cite news |title='Inmate at FCI Cumberland': Former FTX Exec Ryan Salame Updates LinkedIn Title After Judge Orders Him to Prison |url=https://dailyhodl.com/2024/10/12/inmate-at-fci-cumberland-former-ftx-exec-ryan-salame-updates-linkedin-title-after-judge-orders-him-to-prison/ |work=The Daily Hodl |date=2024-10-12 |access-date=2026-06-03}}</ref> He was the first FTX defendant to be sentenced.


Ryan Salame was born in 1994 in the United States. He grew up in Massachusetts and graduated from Georgetown University's McDonough School of Business.
== Background and FTX Role ==


Before entering cryptocurrency, Salame worked at Ernst & Young as an auditor, gaining experience in financial services and accounting.
Salame grew up in Sandisfield, a small town in the Berkshires of western Massachusetts.<ref name="cnnlinkedin"/> He earned undergraduate degrees in accounting and economics from the University of Massachusetts Amherst. He later completed a master's degree in finance at Georgetown University's McDonough School of Business. After graduate school he worked at Ernst & Young, one of the largest accounting firms in the world.<ref name="umass">{{cite web |title=Ryan Salame |url=https://www.isenberg.umass.edu/people/ryan-salame |publisher=Isenberg School of Management, UMass Amherst |access-date=2026-06-03}}</ref>


== Career at FTX ==
In 2019 Salame joined Alameda Research, the trading firm founded by Sam Bankman-Fried, working out of its Hong Kong office. He moved into FTX as the exchange grew.<ref name="umass"/> When FTX relocated its operations to the Bahamas in 2021, Salame became co-CEO of FTX Digital Markets, the company's Bahamian subsidiary.<ref name="cnbcsentence"/> The post made him one of the most visible FTX executives in Nassau. He managed local operations and served as a point of contact with Bahamian officials.


=== Joining FTX ===
Salame lived at Albany, an exclusive gated community in the Bahamas where other senior FTX figures also kept residences.<ref name="cnnlinkedin"/> He spent heavily in his home region of western Massachusetts. He acquired restaurants and other property in the Berkshires.<ref name="cnbcsentence"/>


Salame joined FTX in 2019, attracted by the rapidly growing cryptocurrency industry. He quickly rose through the ranks, eventually becoming co-CEO of FTX Digital Markets, the exchange's subsidiary based in the Bahamas.
== Charges and Guilty Plea ==


=== Role at FTX Digital Markets ===
FTX collapsed in November 2022. Customer withdrawals overwhelmed the exchange after reporting raised questions about the relationship between FTX and Alameda Research. The company filed for bankruptcy on November 11, 2022. Federal prosecutors later described the failure as one of the largest financial frauds in American history.<ref name="cnnplea"/>


As co-CEO of the Bahamian subsidiary, Salame:
Salame's exposure centered on two areas. The first was political money. From the fall of 2021 through November 2022, he made tens of millions of dollars in political contributions in his own name. The funds did not come from his own pocket. They came from Alameda Research.<ref name="cnbcplea"/> In total he was tied to roughly $24 million in donations, most of it directed to Republican candidates and causes. That figure placed him among the largest Republican donors of the 2022 cycle.<ref name="cnbcsentence"/> Bankman-Fried gave publicly to Democratic candidates. The split let FTX money flow to both parties while keeping the source obscured. Salame founded and funded a super PAC, American Dream Federal Action, that backed candidates aligned with cryptocurrency-friendly and deregulatory positions.<ref name="wikipedia">{{cite web |title=Ryan Salame |url=https://en.wikipedia.org/wiki/Ryan_Salame |publisher=Wikipedia |access-date=2026-06-03}}</ref>
* Oversaw FTX's operations in the Bahamas
* Managed relationships with regulators
* Played a key role in establishing FTX's presence in the Caribbean nation
* Helped manage the company's public image


Salame was one of the public faces of FTX in the Bahamas, participating in regulatory discussions and community events.
The second area was money transmission. Prosecutors charged that FTX operated as a money transmitting business without the licenses that federal and state law require. Salame admitted his role in running those payment flows for FTX customers.<ref name="cnbcplea"/>


=== Lifestyle ===
On September 7, 2023, Salame appeared in federal court in Manhattan and pleaded guilty to both conspiracy counts before Judge Lewis A. Kaplan. The first count was charged under Title 18, United States Code, Section 371. The second was charged under Title 18, United States Code, Section 1960.<ref name="cnbcplea"/> As part of the plea agreement he consented to forfeit more than $1.5 billion. That figure was a cap tied to the assets potentially traceable to the conduct. It was not the amount ordered at sentencing.<ref name="cnnplea"/> He was not charged with defrauding FTX customers or investors. Those fraud charges fell on Bankman-Fried, who was convicted at trial in November 2023.<ref name="cnbcsentence"/>
 
Salame embraced the lifestyle that FTX's success afforded:
* Lived in a luxury residence in the Bahamas
* Made major investments in his home state of Massachusetts
* Purchased restaurants and real estate
* Became a prominent political donor
 
== Political Contributions ==
 
=== Straw Donor Scheme ===
 
Unlike Sam Bankman-Fried, who publicly donated to Democratic causes, Salame served as the primary conduit for FTX's contributions to Republican candidates and causes.
 
Salame made approximately $24 million in political contributions between 2021 and 2022, primarily to Republican candidates. However, prosecutors alleged that:
* Some contributions were made using misappropriated FTX customer funds
* Contributions were made in the names of others (straw donors) to circumvent legal limits
* The scheme was coordinated with other FTX executives
 
=== Key Recipients ===
 
Salame's donations went to:
* Republican candidates for federal office
* Republican-aligned political action committees
* Candidates in Massachusetts, where he had business interests
* National Republican campaign organizations
 
The straw donor scheme allowed FTX executives to effectively multiply their political influence beyond legal contribution limits while obscuring the source of the funds.
 
== Girlfriend and Business Partner ==
 
Salame's girlfriend, Michelle Bond, was a Republican candidate for Congress in New York in 2022. Prosecutors alleged that Salame funneled approximately $400,000 in illegal campaign contributions to her campaign through straw donors.
 
Bond lost her primary race and was herself indicted in 2023 on charges of conspiracy to make illegal campaign contributions and campaign finance violations. As of late 2024, her case remains pending.
 
== The Collapse of FTX ==
 
When FTX collapsed in November 2022, Salame was among the senior executives whose wealth and career were destroyed overnight. Unlike some colleagues who immediately cooperated with authorities, Salame initially retained a defensive legal posture.
 
== Criminal Prosecution ==
 
=== Charges ===
 
In September 2023, Salame was charged with:
* Conspiracy to make unlawful political contributions
* Conspiracy to operate an unlicensed money transmitting business
 
Notably, Salame was not charged with the fraud charges that ensnared Bankman-Fried and other executives. His charges focused on campaign finance violations and the money transmitting business operation.
 
=== Guilty Plea ===
 
On September 7, 2023, Salame pleaded guilty to both charges. He admitted to:
* Making illegal political contributions in excess of federal limits
* Using straw donors to disguise the source and amount of contributions
* Operating an unlicensed money transmitting business through FTX
 
=== No Cooperation Agreement ===
 
Unlike Gary Wang, Caroline Ellison, and Nishad Singh, Salame did not enter into a cooperation agreement with prosecutors. He did not testify at Bankman-Fried's trial or provide assistance to the government's investigation.
 
This decision had significant consequences for his sentencing.


== Sentencing ==
== Sentencing ==


=== May 2024 Sentencing ===
Judge Kaplan sentenced Salame on May 28, 2024. The term was 90 months in federal prison.<ref name="cnbcsentence"/> The court added three years of supervised release. It ordered Salame to forfeit more than $6 million and to pay more than $5 million in restitution.<ref name="coindesksentence"/><ref name="theblock"/>


On May 28, 2024, U.S. District Judge Lewis Kaplan sentenced Salame to:
Prosecutors had recommended a sentence between five and seven years. They argued that the campaign finance scheme corrupted the political process and that the unlicensed money transmitting business helped FTX evade oversight. Salame's lawyers had asked for 18 months. They told the court that Salame had alerted authorities to FTX's problems and had cooperated with the government's investigation.<ref name="coindesksentence"/> The judge went past the prosecution's recommendation. The 90-month term was the longest imposed on any FTX executive who pleaded guilty.
* 90 months (7.5 years) in federal prison
* Forfeiture of $1.5 billion
* Restitution obligations


=== Comparison to Cooperators ===
Salame did not enter a formal cooperation agreement of the kind that can produce a reduced sentence. He did not testify at Bankman-Fried's trial. His co-defendants Caroline Ellison, Gary Wang, and [[Nishad Singh]] cooperated with prosecutors and testified against Bankman-Fried. Ellison received two years. Wang and Singh avoided prison time. Bankman-Fried, who went to trial and was convicted, received 25 years.<ref name="cnbcsentence"/>
 
Salame's sentence stood in stark contrast to his former colleagues:
 
{| class="wikitable"
|-
! Defendant !! Sentence !! Cooperated?
|-
| Sam Bankman-Fried || 25 years || No
|-
| Ryan Salame || 7.5 years || No
|-
| Caroline Ellison || 2 years || Yes
|-
| Gary Wang || Time served || Yes
|-
| Nishad Singh || Time served || Yes
|}
 
The disparity illustrated the premium federal prosecutors and judges place on cooperation.
 
=== Judge's Remarks ===
 
Judge Kaplan emphasized the seriousness of Salame's campaign finance violations, noting that they undermined the integrity of American elections. The judge also noted that Salame had not accepted full responsibility or cooperated with authorities.


== Incarceration ==
== Incarceration ==


=== FCI Cumberland ===
Salame is serving his sentence at the Federal Correctional Institution in Cumberland, Maryland, a medium-security facility.<ref name="dailyhodl"/> He surrendered on October 11, 2024.<ref name="cnnlinkedin"/>
 
Salame is serving his sentence at Federal Correctional Institution Cumberland, a medium-security facility in Cumberland, Maryland. With the 7.5-year sentence, he is expected to remain incarcerated until approximately 2031, assuming standard good time credits.
 
=== Pre-Surrender Incident ===
 
Before surrendering to serve his sentence, Salame suffered injuries when his dog bit off part of his finger. He petitioned for a delay in his surrender date to address medical issues, but this request was viewed with skepticism by prosecutors and the court.
 
== Civil and Regulatory Matters ==
 
=== Forfeiture ===
 
Salame agreed to forfeit approximately $1.5 billion in assets, though the actual amount recoverable depended on the value and liquidity of those assets.
 
=== FEC Investigation ===
 
The Federal Election Commission also investigated Salame's political contributions, though the criminal case took precedence.
 
=== Campaign Finance Clawbacks ===
 
Political campaigns and organizations that received Salame's contributions have faced pressure to return the funds. Some have agreed to return donations, while others have resisted.
 
== Michelle Bond Case ==


Michelle Bond, Salame's girlfriend and the recipient of allegedly illegal contributions, was indicted in October 2023. She was charged with:
The surrender date moved more than once. Salame was injured before his original report date. He cited a dog bite that required surgery and asked the court to push his surrender from August to October. The court granted that delay.<ref name="cnnlinkedin"/> He then sought a further postponement, to December 7, 2024, to continue medical treatment. Judge Kaplan denied that request in a ruling dated October 10, 2024. Salame reported the next day.<ref name="dailyhodl"/>
* Conspiracy to make and receive excessive contributions
* Making and receiving excessive contributions
* Causing a false statement to be made to the FEC


Bond has pleaded not guilty and her case continues separately from Salame's.
After he entered custody, Salame changed his LinkedIn profile to list his title as "Inmate at FCI Cumberland." The change drew wide coverage.<ref name="cnnlinkedin"/><ref name="dailyhodl"/> With his 90-month sentence and standard federal good-time credit, his projected release falls in the early 2030s. He will then serve three years of supervised release.
 
== Legacy ==
 
=== Campaign Finance System ===
 
Salame's case exposed vulnerabilities in the American campaign finance system:
* Difficulty detecting straw donor schemes
* Limited enforcement resources at the FEC
* The ability of wealthy individuals to circumvent contribution limits
 
=== Non-Cooperation Consequences ===
 
Salame's case became a cautionary tale about the consequences of not cooperating in federal white-collar cases. While his colleagues who cooperated received no prison time or minimal sentences, Salame's 7.5-year term reflected the government's ability to secure significant punishment even for non-cooperating defendants.
 
== See Also ==
* [[Sam Bankman-Fried]]
* [[Gary Wang]]
* [[Nishad Singh]]
* [[Caroline Ellison]]
* [[FCI Cumberland (medium-security)]]
* [[Wire Fraud]]


== Frequently Asked Questions ==
== Frequently Asked Questions ==
{{FAQSection/Start}}
{{FAQSection/Start}}
{{FAQ|question=Who is Ryan Salame?|answer=Ryan Salame was co-CEO of FTX Digital Markets and a senior executive at FTX who was sentenced to 7.5 years in federal prison for campaign finance violations and operating an unlicensed money transmitting business.}}
{{FAQ|question=Who is Ryan Salame?|answer=Ryan Salame is an American former cryptocurrency executive who served as co-CEO of FTX Digital Markets, the Bahamian subsidiary of FTX. He pleaded guilty in 2023 to two federal conspiracy counts and was sentenced in 2024 to 7.5 years in prison.}}
{{FAQ|question=How long is Ryan Salame's prison sentence?|answer=Salame was sentenced to 7.5 years (90 months) in federal prison in May 2024. He is serving his sentence at FCI Cumberland in Maryland.}}
{{FAQ|question=What did Ryan Salame plead guilty to?|answer=On September 7, 2023, Salame pleaded guilty to conspiracy to make unlawful political contributions and defraud the Federal Election Commission, and conspiracy to operate an unlicensed money transmitting business.}}
{{FAQ|question=Did Ryan Salame cooperate with prosecutors?|answer=No. Unlike other FTX executives such as Gary Wang, Caroline Ellison, and Nishad Singh, Salame did not enter into a cooperation agreement or testify against Sam Bankman-Fried.}}
{{FAQ|question=How long is Ryan Salame's prison sentence?|answer=Judge Lewis A. Kaplan sentenced Salame to 90 months, which is 7.5 years, in federal prison on May 28, 2024. The sentence also included three years of supervised release.}}
{{FAQ|question=How much did Ryan Salame donate to political campaigns?|answer=Salame made approximately $24 million in political contributions between 2021 and 2022, primarily to Republican candidates and causes, some of which prosecutors alleged came from misappropriated funds.}}
{{FAQ|question=Where is Ryan Salame incarcerated?|answer=Salame is serving his sentence at FCI Cumberland, a medium-security federal prison in Cumberland, Maryland. He reported to the facility on October 11, 2024.}}
{{FAQ|question=Why was Ryan Salame's sentence longer than other FTX executives?|answer=Salame did not cooperate with prosecutors, while his former colleagues who received lighter sentences (or no prison time) provided extensive cooperation and testimony in the case against Sam Bankman-Fried.}}
{{FAQ|question=How much did Ryan Salame donate to political campaigns?|answer=Salame was tied to roughly $24 million in political contributions made between 2021 and 2022, primarily to Republican candidates and causes. Prosecutors established that the money came from Alameda Research rather than from Salame's own funds.}}
{{FAQ|question=How much did Ryan Salame have to forfeit?|answer=At sentencing the court ordered Salame to forfeit more than $6 million and to pay more than $5 million in restitution. His 2023 plea agreement separately included consent to forfeit more than $1.5 billion, a cap tied to assets potentially traceable to the conduct rather than the amount imposed at sentencing.}}
{{FAQ|question=Did Ryan Salame cooperate against Sam Bankman-Fried?|answer=Salame did not enter a formal cooperation agreement and did not testify at Sam Bankman-Fried's trial. His co-defendants Caroline Ellison, Gary Wang, and Nishad Singh cooperated and received far lighter sentences.}}
{{FAQ|question=When will Ryan Salame be released?|answer=With a 90-month sentence and standard federal good-time credit, Salame's projected release falls in the early 2030s. He will then serve three years of supervised release.}}
{{FAQSection/End}}
{{FAQSection/End}}


Line 196: Line 72:
<references />
<references />


{{MetaDescription|Ryan Salame, FTX co-CEO, was sentenced to 7.5 years for campaign finance violations. Learn about his role in the cryptocurrency scandal and incarceration.}}
{{DEFAULTSORT:Salame, Ryan}}
 
[[Category:High-Profile_Federal_Offenders]]
<html>
[[Category:White_Collar_Crime]]
<script type="application/ld+json">
[[Category:Currently Incarcerated]]
{
  "@context": "https://schema.org",
  "@graph": [
    {
      "@type": "Person",
      "name": "Ryan Salame",
      "birthDate": "1994",
      "birthPlace": {
        "@type": "Place",
        "name": "United States"
      },
      "description": "American former cryptocurrency executive and co-CEO of FTX Digital Markets sentenced to 7.5 years in federal prison for campaign finance violations and operating an unlicensed money transmitting business.",
      "sameAs": [
        "https://en.wikipedia.org/wiki/Ryan_Salame_(businessman)"
      ]
    },
    {
      "@type": "FAQPage",
      "mainEntity": [
        {
          "@type": "Question",
          "name": "Who is Ryan Salame?",
          "acceptedAnswer": {
            "@type": "Answer",
            "text": "Ryan Salame was co-CEO of FTX Digital Markets and a senior executive at FTX who was sentenced to 7.5 years in federal prison for campaign finance violations and operating an unlicensed money transmitting business."
          }
        },
        {
          "@type": "Question",
          "name": "How long is Ryan Salame's prison sentence?",
          "acceptedAnswer": {
            "@type": "Answer",
            "text": "Salame was sentenced to 7.5 years (90 months) in federal prison in May 2024. He is serving his sentence at FCI Cumberland in Maryland."
          }
        },
        {
          "@type": "Question",
          "name": "Did Ryan Salame cooperate with prosecutors?",
          "acceptedAnswer": {
            "@type": "Answer",
            "text": "No. Unlike other FTX executives such as Gary Wang, Caroline Ellison, and Nishad Singh, Salame did not enter into a cooperation agreement or testify against Sam Bankman-Fried."
          }
        },
        {
          "@type": "Question",
          "name": "How much did Ryan Salame donate to political campaigns?",
          "acceptedAnswer": {
            "@type": "Answer",
            "text": "Salame made approximately $24 million in political contributions between 2021 and 2022, primarily to Republican candidates and causes, some of which prosecutors alleged came from misappropriated funds."
          }
        },
        {
          "@type": "Question",
          "name": "Why was Ryan Salame's sentence longer than other FTX executives?",
          "acceptedAnswer": {
            "@type": "Answer",
            "text": "Salame did not cooperate with prosecutors, while his former colleagues who received lighter sentences (or no prison time) provided extensive cooperation and testimony in the case against Sam Bankman-Fried."
          }
        }
      ]
    }
  ]
}
</script>
</html>


{{#seo:
{{#seo:
|title=Ryan Salame - FTX Executive 7.5 Year Prison Sentence | Prisonpedia
|title=Ryan Salame — FTX Digital Markets Co-CEO, Federal Campaign Finance Case | Prisonpedia
|description=Ryan Salame, FTX co-CEO, was sentenced to 7.5 years for campaign finance violations. Learn about his role in the cryptocurrency scandal and incarceration.
|title_mode=replace
|description=Ryan Salame, former co-CEO of FTX Digital Markets, was sentenced to 7.5 years in federal prison in the FTX campaign finance and money transmitting case. Full case file, charges, sentencing, and incarceration.
|keywords=Ryan Salame, FTX Digital Markets, Ryan Salame prison, Ryan Salame sentence, FTX campaign finance, Ryan Salame FCI Cumberland, Alameda Research political donations
|type=ProfilePage
|site_name=Prisonpedia
|locale=en_US
|published_time=2026-06-03
|modified_time=2026-06-03
}}
}}


[[Category:High-Profile Federal Offenders]]
{{MetaDescription|Ryan Salame, former co-CEO of FTX Digital Markets, was sentenced to 7.5 years in federal prison in the FTX campaign finance and unlicensed money transmitting case. Case file, charges, sentencing, and incarceration on Prisonpedia.}}
[[Category:Cryptocurrency Fraud]]
[[Category:FTX Scandal]]

Latest revision as of 13:41, 3 June 2026

Ryan Salame
Born: 1993
United States
Charges: Conspiracy to make unlawful political contributions and defraud the Federal Election Commission; conspiracy to operate an unlicensed money transmitting business
Sentence: 90 months (7.5 years) federal prison, 3 years supervised release
Facility: FCI Cumberland
Status: Incarcerated


Ryan Salame is an American former cryptocurrency executive. He served as co-CEO of FTX Digital Markets, the Bahamian subsidiary of the cryptocurrency exchange FTX. On September 7, 2023, he pleaded guilty in the Southern District of New York to two federal conspiracy counts. The first was conspiracy to make unlawful political contributions and defraud the Federal Election Commission. The second was conspiracy to operate an unlicensed money transmitting business.[1][2]

On May 28, 2024, U.S. District Judge Lewis A. Kaplan sentenced Salame to 90 months in prison, a term of seven and a half years. The sentence was higher than the five to seven years prosecutors had requested. It was far above the 18 months his defense had asked for.[3][4] The court also ordered three years of supervised release, more than $6 million in forfeiture, and more than $5 million in restitution.[4][5] Salame reported to FCI Cumberland in Maryland on October 11, 2024.[6][7] He was the first FTX defendant to be sentenced.

Background and FTX Role

Salame grew up in Sandisfield, a small town in the Berkshires of western Massachusetts.[6] He earned undergraduate degrees in accounting and economics from the University of Massachusetts Amherst. He later completed a master's degree in finance at Georgetown University's McDonough School of Business. After graduate school he worked at Ernst & Young, one of the largest accounting firms in the world.[8]

In 2019 Salame joined Alameda Research, the trading firm founded by Sam Bankman-Fried, working out of its Hong Kong office. He moved into FTX as the exchange grew.[8] When FTX relocated its operations to the Bahamas in 2021, Salame became co-CEO of FTX Digital Markets, the company's Bahamian subsidiary.[3] The post made him one of the most visible FTX executives in Nassau. He managed local operations and served as a point of contact with Bahamian officials.

Salame lived at Albany, an exclusive gated community in the Bahamas where other senior FTX figures also kept residences.[6] He spent heavily in his home region of western Massachusetts. He acquired restaurants and other property in the Berkshires.[3]

Charges and Guilty Plea

FTX collapsed in November 2022. Customer withdrawals overwhelmed the exchange after reporting raised questions about the relationship between FTX and Alameda Research. The company filed for bankruptcy on November 11, 2022. Federal prosecutors later described the failure as one of the largest financial frauds in American history.[2]

Salame's exposure centered on two areas. The first was political money. From the fall of 2021 through November 2022, he made tens of millions of dollars in political contributions in his own name. The funds did not come from his own pocket. They came from Alameda Research.[1] In total he was tied to roughly $24 million in donations, most of it directed to Republican candidates and causes. That figure placed him among the largest Republican donors of the 2022 cycle.[3] Bankman-Fried gave publicly to Democratic candidates. The split let FTX money flow to both parties while keeping the source obscured. Salame founded and funded a super PAC, American Dream Federal Action, that backed candidates aligned with cryptocurrency-friendly and deregulatory positions.[9]

The second area was money transmission. Prosecutors charged that FTX operated as a money transmitting business without the licenses that federal and state law require. Salame admitted his role in running those payment flows for FTX customers.[1]

On September 7, 2023, Salame appeared in federal court in Manhattan and pleaded guilty to both conspiracy counts before Judge Lewis A. Kaplan. The first count was charged under Title 18, United States Code, Section 371. The second was charged under Title 18, United States Code, Section 1960.[1] As part of the plea agreement he consented to forfeit more than $1.5 billion. That figure was a cap tied to the assets potentially traceable to the conduct. It was not the amount ordered at sentencing.[2] He was not charged with defrauding FTX customers or investors. Those fraud charges fell on Bankman-Fried, who was convicted at trial in November 2023.[3]

Sentencing

Judge Kaplan sentenced Salame on May 28, 2024. The term was 90 months in federal prison.[3] The court added three years of supervised release. It ordered Salame to forfeit more than $6 million and to pay more than $5 million in restitution.[4][5]

Prosecutors had recommended a sentence between five and seven years. They argued that the campaign finance scheme corrupted the political process and that the unlicensed money transmitting business helped FTX evade oversight. Salame's lawyers had asked for 18 months. They told the court that Salame had alerted authorities to FTX's problems and had cooperated with the government's investigation.[4] The judge went past the prosecution's recommendation. The 90-month term was the longest imposed on any FTX executive who pleaded guilty.

Salame did not enter a formal cooperation agreement of the kind that can produce a reduced sentence. He did not testify at Bankman-Fried's trial. His co-defendants Caroline Ellison, Gary Wang, and Nishad Singh cooperated with prosecutors and testified against Bankman-Fried. Ellison received two years. Wang and Singh avoided prison time. Bankman-Fried, who went to trial and was convicted, received 25 years.[3]

Incarceration

Salame is serving his sentence at the Federal Correctional Institution in Cumberland, Maryland, a medium-security facility.[7] He surrendered on October 11, 2024.[6]

The surrender date moved more than once. Salame was injured before his original report date. He cited a dog bite that required surgery and asked the court to push his surrender from August to October. The court granted that delay.[6] He then sought a further postponement, to December 7, 2024, to continue medical treatment. Judge Kaplan denied that request in a ruling dated October 10, 2024. Salame reported the next day.[7]

After he entered custody, Salame changed his LinkedIn profile to list his title as "Inmate at FCI Cumberland." The change drew wide coverage.[6][7] With his 90-month sentence and standard federal good-time credit, his projected release falls in the early 2030s. He will then serve three years of supervised release.

Frequently Asked Questions

Q: Who is Ryan Salame?

Ryan Salame is an American former cryptocurrency executive who served as co-CEO of FTX Digital Markets, the Bahamian subsidiary of FTX. He pleaded guilty in 2023 to two federal conspiracy counts and was sentenced in 2024 to 7.5 years in prison.


Q: What did Ryan Salame plead guilty to?

On September 7, 2023, Salame pleaded guilty to conspiracy to make unlawful political contributions and defraud the Federal Election Commission, and conspiracy to operate an unlicensed money transmitting business.


Q: How long is Ryan Salame's prison sentence?

Judge Lewis A. Kaplan sentenced Salame to 90 months, which is 7.5 years, in federal prison on May 28, 2024. The sentence also included three years of supervised release.


Q: Where is Ryan Salame incarcerated?

Salame is serving his sentence at FCI Cumberland, a medium-security federal prison in Cumberland, Maryland. He reported to the facility on October 11, 2024.


Q: How much did Ryan Salame donate to political campaigns?

Salame was tied to roughly $24 million in political contributions made between 2021 and 2022, primarily to Republican candidates and causes. Prosecutors established that the money came from Alameda Research rather than from Salame's own funds.


Q: How much did Ryan Salame have to forfeit?

At sentencing the court ordered Salame to forfeit more than $6 million and to pay more than $5 million in restitution. His 2023 plea agreement separately included consent to forfeit more than $1.5 billion, a cap tied to assets potentially traceable to the conduct rather than the amount imposed at sentencing.


Q: Did Ryan Salame cooperate against Sam Bankman-Fried?

Salame did not enter a formal cooperation agreement and did not testify at Sam Bankman-Fried's trial. His co-defendants Caroline Ellison, Gary Wang, and Nishad Singh cooperated and received far lighter sentences.


Q: When will Ryan Salame be released?

With a 90-month sentence and standard federal good-time credit, Salame's projected release falls in the early 2030s. He will then serve three years of supervised release.


References

  1. ↑ 1.0 1.1 1.2 1.3 "Former FTX executive Salame to forfeit $1.5 billion, pleads guilty to two criminal counts".Goswami, Rohan.CNBC.2023-09-07.Retrieved 2026-06-03.
  2. ↑ 2.0 2.1 2.2 "Former FTX executive Ryan Salame will forfeit $1.5 billion after pleading guilty to criminal charges".Morrow, Allison.CNN Business.2023-09-07.Retrieved 2026-06-03.
  3. ↑ 3.0 3.1 3.2 3.3 3.4 3.5 3.6 "FTX exec who turned on Sam Bankman-Fried sentenced to 7.5 years in prison".Goswami, Rohan.CNBC.2024-05-28.Retrieved 2026-06-03.
  4. ↑ 4.0 4.1 4.2 4.3 "Former FTX Executive Ryan Salame Sentenced to 7.5 Years in Prison".Reynolds, Cheyenne Ligon.CoinDesk.2024-05-28.Retrieved 2026-06-03.
  5. ↑ 5.0 5.1 "Former FTX executive Ryan Salame begins his seven and a half year prison sentence".The Block.2024-10-11.Retrieved 2026-06-03.
  6. ↑ 6.0 6.1 6.2 6.3 6.4 6.5 "Former top FTX executive has updated his LinkedIn profile. His new role? Prison inmate".Goldman, David.CNN Business.2024-10-11.Retrieved 2026-06-03.
  7. ↑ 7.0 7.1 7.2 7.3 "'Inmate at FCI Cumberland': Former FTX Exec Ryan Salame Updates LinkedIn Title After Judge Orders Him to Prison".The Daily Hodl.2024-10-12.Retrieved 2026-06-03.
  8. ↑ 8.0 8.1 "Ryan Salame". Isenberg School of Management, UMass Amherst. Retrieved 2026-06-03.
  9. ↑ "Ryan Salame". Wikipedia. Retrieved 2026-06-03.


Retrieved from "https://prisonpedia.com/index.php?title=Ryan_Salame&oldid=6116"