United

Sentencing for former FTX co-CEO Ryan Salame has been rescheduled for May 28, according to a filing in Southern New York District Court. It is unclear why his sentencing was postponed from the original date of May 1.
Salame was one of the four members of the FTX top management to be charged by the United States government along with Sam Bankman-Fried in relation to the cryptocurrency exchange’s collapse. Salame was the only one of the four — who also included former Alameda Research head Caroline Ellison, FTX co-founder Gray Wang and former FTX top engineer Nishad Singh — who <a href="https://cointelegraph.com/news/former-ftx-ryan-salame-wont-testify-in-campaign-donation-case">did not testify against</a>&nbsp;Bankman-Fried. 
All of the four executives <a href="https://cointelegraph.com/news/former-ftx-exec-ryan-salame-prosecutors-discuss-plea-deal">reportedly made plea deals</a> with U.S. prosecutors. Salame is free on a $1-million bond.
Like the other executives, Salame has pleaded guilty to federal charges relating to the FTX debacle. In addition, he faces charges on <a href="https://cointelegraph.com/news/authorities-investigating-former-ftx-exec-campaign-finance-violations">campaign finance violations connected</a> with his girlfriend Michelle Bond’s unsuccessful bid to represent New York’s First District in the House of Representatives. Bond was <a href="https://ballotpedia.org/Michelle_Bond" target="_blank" rel="noopener nofollow">defeated</a>in the Republican primary. 
<figure>
 <img src="https://s3.cointelegraph.com/uploads/2024-04/d6396ae2-7ea8-4eeb-a8eb-f8bb73693698.png">
 <figcaption style="text-align: center;">
 Source: Ryan Salame
 </figcaption>
</figure>
Both of the charges against Salame could reportedly <a href="https://news.bloomberglaw.com/business-and-practice/ex-ftx-executive-salame-to-plead-guilty-to-criminal-charges" target="_blank" rel="noopener nofollow">result</a> in sentences of up to five years in prison. Bankman-Fried’s lawyers argued that he should not face campaign contribution violation charges because they were not part of his agreement on extradition from the Bahamas. Those charges were later <a href="https://cointelegraph.com/news/sam-bankman-fried-superseding-indictment-includes-campaign-finance-allegations">folded into the conspiracy</a> to commit fraud charges against him.
Related: <a href="https://cointelegraph.com/news/sam-bankman-fried-beind-bald-memecoin-base-conspiracy">Is SBF secretly behind BALD? Crypto Twitter debates latest conspiracy</a>
Bankman-Fried claimed at trial, where he pleaded not guilty, that he <a href="https://cointelegraph.com/news/sam-bankman-fried-political-donations">did not discuss his political donations</a>&nbsp;with Salame. All four executives charged with Bankman-Fried have <a href="https://cointelegraph.com/news/ftx-exec-gives-up-real-estate-car-cash-following-guilty-plea">pleaded guilty to the charges</a>&nbsp;against them.
Salame’s role in the criminal activities at FTX remains somewhat ambiguous. He was reportedly not part of Bankman-Fried’s inner circle and was so shocked by the news of the exchange’s collapse that he <a href="https://www.wsj.com/articles/ftxs-collapse-leaves-employees-sick-with-anger-11668603708?mod=djemalertNEWS" target="_blank" rel="noopener nofollow">became</a>&nbsp;physically sick. However, Bahamian court records later showed that he <a href="https://cointelegraph.com/news/ftx-bahamas-co-ceo-ryan-salame-blew-the-whistle-on-ftx-and-sam-bankman-fried">informed the country’s Securities Commission</a> of irregularities at the exchange in November 2022, leading to an investigation.
Magazine: <a href="https://cointelegraph.com/magazine/brian-jung-crypto-youtube-ftx-base-aerodrome-hall-of-flame/">YouTuber declines ‘7 figure’ sponsorships after FTX scandal: Brian Jung, Hall of Flame</a>

Sentencing of former FTX exec Ryan Salame moved to May 28

Cointelegraph

Other articles published on Apr 10, 2024

DEX adoption needs greater capital efficiency — PancakeSwap product lead

Critical Upgrade Looming for XRP Ledger Node Operators

Polygon Down More Than 4% Within 24 hours

On central banks and interest rate cuts – Where are we right now?

How Bitcoin Halving 2024 Will Impact the Crypto Market?

Ripple CTO Clears Controversy Around XRP and Ripple Naming

Join our free newsletter for daily crypto updates!