Former top FTX exchange manager pleads guilty to two episodes of charges

Former top FTX exchange manager pleads guilty to two episodes of charges

164
Author: James Soplin
Subscribe

Former top FTX exchange manager pleads guilty to two episodes of charges

Salame, a former top executive at the FTX exchange, pleaded guilty to two episodes of charges



Ryan Salame's plea agreement did not include a promise to testify against FTX founder Sam Bankman-Friede

Former FTX top executive Ryan Salame pleaded guilty to two counts in a criminal case, Bloomberg reported, citing sources.

Salame appeared in Manhattan federal court on Sept. 7, where he pleaded guilty to one campaign finance violation and one charge of operating an illegal money transfer business, the publication said.

Salame's plea agreement did not include a promise to testify against FTX founder Sam Bankman-Fried, who goes on trial for fraud next month, but the deal is likely to increase pressure on the former cryptocurrency exchange chief, Bloomberg notes.

Salame began plea negotiations with prosecutors in August. It was not reported at the time whether he would testify against Bankman-Friede

Salame was one of Bankman-Fried's closest aides. After the platform was incorporated in the Bahamas in 2021, he became an intermediary between the company and the local government and was appointed chief executive of FTX Digital Markets, the Bahamian operator of the FTX exchange.

 

 

Other news

Bitcoin Demand from ETFs in June Surpassed Miners' Capacity
What Will Happen to Bitcoin in the Coming Week
Bitcoin funds raised $887 million in one day
Bitcoin remains stable amid capital inflows into ETFs
The Fed's influence will remain key for Bitcoin in June, predicts 10x Research
Bitcoin Goals
Trustpilot