Ryan Salame, former executive and co-CEO of the crypto exchange FTX, was supposed to enter prison at the end of August to serve his 7.5-year sentence.
Instead, a U.S. judge acknowledged some complications related to his health condition after recently being bitten in the face by a dog.
Thus, Salame obtained a 45-day delay from the original executive order to enter prison. The former head of FTX could use these days to put pressure on Donald Trump and other Republican political figures, and obtain a future sentence reduction.
Let’s see all the details below.
Ryan Salame: the announcement of the prison for the former executive of the crypto exchange FTX
In May 2024 Ryan Salame, former executive of the defunct crypto exchange FTX, had been sentenced to 90 months in prison by prosecutor Damian Williams.
The court of the Southern District of New York had sentenced Salame after he had pleaded guilty to multiple charges.
Among these, we find the advancement of illegal political contributions, fraud to the Federal Election Commission and conspiracy for managing a financial activity without a license.
In general, all the illicit activities carried out by the former executive were aimed at favoring FTX and the affiliated companies in the broad crypto market, especially on the political and fiscal fronts.
These are the words reported by Judge Damian Williams a few months ago, with which he announced the prison sentence of Salame.
“Ryan Salame has agreed to advance the interests of FTX, Alameda Research, and his co-conspirators through an illegal political influence campaign and through unlicensed money transmission activity, which helped FTX grow faster and faster by operating outside the law. Salame’s involvement in two serious federal crimes undermined public trust in American elections and the integrity of the financial system.“
It is worth noting that the defendant was a high-level official at the quantitative crypto trading firm Alameda Research, the right-hand of FTX.
He also served as co-CEO for the Bahamian subsidiary FTX Digital Markets Ltd, where many tax-related crimes occurred.
Salame has long been alongside Bankman-Fried and other employees of FTX and Alameda Research in managing an unregistered and unregulated activity by the US authorities.
Furthermore, from 2020 until the collapse of the house of cards, he conspired with the executive Nishad Singh to make hundreds of political donations aimed at gaining a direct advantage in the cryptocurrency market.
Salame, in addition to being sentenced to 7.5 years in prison, was fined more than 6 million dollars in forfeiture and over 5 million in restitution.
Delay of 45 days in the prison sentence due to the bite of a German shepherd
Despite the heavy accusations for having participated with FTX in one of the largest frauds in the history of crypto, Salame will not go to prison immediately.
His prison sentence was supposed to go into effect on August 29, but the former cryptographic official saw his physical condition worsen.
As reported by his lawyer in a letter to the court of New York, on June 29 Salame was bitten in the face by a dog, a German shepherd, while visiting a friend’s house.
Given the deep wounds, he would have formally requested a delay for his entry into prison, which should thus be postponed to October 13.
To announce the incident was he himself on X, highlighting how he would need a surgeon, as long as they are of his same political orientation (republican).
According to Salame, in fact, a democratic surgeon could intentionally harm him during the delicate procedure he will have to undergo.
Got bit in the face by a dog (my fault not the dogs) and all I can think is I hope this surgeon isn’t a democrat who knows I’m a republican
— Ryan Salame (@rsalame7926) June 29, 2024
The motion of July 26 by Salame’s legal team drafted the medical information regarding his deep wounds. It also requested care and surgical interventions for his client before the presentation in prison.
In the meantime, Sam Bankman Fried, the main mind behind the great FTX scam, has been sentenced to 25 years in prison with 7 different charges.
The other partners of FTX and Alameda Nishad Singh, Gary Wang, and Caroline Ellison now have to face very important battles for their freedom in court.
All three have pleaded guilty and have cooperated with prosecutors with the aim of getting a reduced sentence. Sing and Wang will be definitively sentenced between October and November, while the hearing for Ellison has not yet been scheduled.
Donald Trump, if elected President, could reduce the penalty for crypto-related crimes
The story of Ryan Salame, former executive of the crypto exchange FTX sentenced to prison, could have a small happy ending in the coming months.
If Donald Trump were elected President of the United States, he could offer a sentence reduction to all those individuals who have committed financial crimes related to digital assets. In fact, in a recent speech for his election campaign, he promised that he would free Ross Ulbricht and modify his sentence.
Salame could be included in the list of those subjects, which includes names like Assange and Snowden, to be pardoned by the next potential President.
BREAKING: TRUMP CONFIRMS THAT IF HE BECOMES PRESIDENT HE WILL COMMUTE THE SENTENCE OF SILK ROAD FOUNDER ROSS ULBRICHT pic.twitter.com/tFy2X2mucy
— Autism Capital
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It is worth noting in this regard how the FTX executive, after the crash of November 2022, remained off social media for almost two years.
In June 2024, he started posting content again, most of it with a political background to support Trump and undermine the democrats.
His return to public discussion forums could be linked precisely to the approaching deadline for the electoral elections in November.
Kamala goes to the most liberal spec of dirt in the US to talk about how her campaign is behind, Trump goes to a Bitcoin event to talk victory and progress! There’s no comparison.
— Ryan Salame (@rsalame7926) July 27, 2024
The media support for Trump could be reciprocated with a reduction of sentence or even a pardon from prison.
We also remember how Salame in the past has offered the Republicans very substantial praise at the economic level in lobbying for FTX: in this sense, he could be well-liked by Trump and his circle.
In the meantime, the US entrepreneur is the favorite for the upcoming presidential elections in November, with an estimated winning probability of 57% according to Polymarket.
