A federal judge has sentenced former FTX executive Ryan Salame to more than seven years in prison. He is the first of the lieutenants of failed cryptocurrency mogul Sam Bankman-Fried to receive jail time for their roles in the 2022 collapse of the cryptocurrency exchange.
Ryan Salame, 30, who was a high-ranking executive at FTX for most of the exchange’s existence, leaves Federal Court, in New York, Tuesday, May 28, 2024. Salami, the co-CEO of FTX Digital Markets, pleaded guilty to illegally making unlawful U.S. campaign contributions and to operating a unlicensed money transmitting business last year, was sentenced to 7.5-years in prison, plus 3 years of supervised release.
The sentence of 7 1/2 years in prison, plus three years of supervised release, was more than the five to seven years prosecutors had asked Judge Lewis A. Kaplan to impose on Salame in their pre-sentencing memo.against Bankman-Fried at his trial earlier this year and did not testify against him.
The judge also chastised Salame for pulling $5 million in cryptocurrencies out of FTX as the exchange was failing.
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