2024

Bitcoin

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<h4><strong>On October 11th, 2024, he turned himself in at FCI Cumberland, according to the Bureau of Prisons. </strong></h4>
<p>Salame was <a href="https://www.justice.gov/usao-sdny/pr/former-ftx-executive-ryan-salame-sentenced-90-months-prison" target="_blank" rel="noopener noreferrer nofollow">sentenced</a> to 90 months in prison for his role in the collapse of the FTX cryptocurrency exchange in 2022. He pleaded guilty to charges related to running an unregulated money-transmitting business and campaign finance violations.</p>
<h5><strong>Salame’s Case Underscores the Fallout From the FTX Collapse</strong></h5>
<p>Before his surrender, Salame appeared on Tucker Carlson’s podcast, where he expressed his belief that federal prosecutors unfairly targeted him for political reasons. His claims added fuel to the fire of the ongoing controversy surrounding his case. Salame had <a href="https://cointelegraph.com/news/ftx-ryan-salame-delay-prison-dog-bite" target="_blank" rel="noopener noreferrer nofollow">tried</a> to delay his surrender until December 7th, 2024, citing ongoing medical treatment for a dog bite. However, this request was met with strong opposition from prosecutors and was denied by Judge Lewis Kaplan just a day before he was to report to prison.</p>
<blockquote class="twitter-tweet">
 <p>Ryan Salame former FTX CEO just updated his LinkedIn with one of the all time greatest posts ever: <a href="https://t.co/pAJWahy35s" rel="noopener noreferrer nofollow">pic.twitter.com/pAJWahy35s</a></p>
 <p>— Nick Dimondi (@NickDimondi) <a href="https://twitter.com/NickDimondi/status/1844513486056927355?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">October 10, 2024</a></p>
</blockquote>
<p></p>
<p><a href="https://x.com/rsalame7926" target="_blank" rel="noopener noreferrer nofollow">Salame</a> was also interviewed by Laura Shin on her Unchained podcast, which aired the same day he went into custody. During the interview, he discussed withdrawing nearly $600,000 in cryptocurrency during the FTX collapse. He admitted, “Not my brightest moment,” and explained that most of his net worth was tied up in <a href="https://www.altcoinbuzz.io/?s=ftx" target="_blank" rel="noopener noreferrer nofollow">FTX</a>.</p>
<p>He claimed he needed the money to cover legal fees but acknowledged that he shouldn’t have taken it. Salame mentioned that at least one of those withdrawals was never used and was forfeited to the Department of Justice weeks before the podcast aired.</p>
<blockquote class="twitter-tweet">
 <p>FTX’s Ryan Salame Is Going to Prison. Here’s What He Has to Say</p>
 <p>On the day he’s headed to prison, Ryan Salame (<a href="https://twitter.com/rsalame7926?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">@rsalame7926</a>), former executive at FTX, spent 90 minutes on Unchained, talking about:</p>
 <p><img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f538.png" alt="🔸" style="height: 1em; max-height: 1em;"> What he knew when<br> <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f62f.png" alt="😯" style="height: 1em; max-height: 1em;"> Why he claims Caroline Ellison lied<br> <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f4b8.png" alt="💸" style="height: 1em; max-height: 1em;"> Why he withdrew… <a href="https://t.co/Aysnh4AZli" rel="noopener noreferrer nofollow">pic.twitter.com/Aysnh4AZli</a></p>
 <p>— Laura Shin (@laurashin) <a href="https://twitter.com/laurashin/status/1844732057240379411?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">October 11, 2024</a></p>
</blockquote>
<p></p>
<p>Despite the serious nature of his situation, Salame revealed plans to study law while in prison. He stated that he has no intention of becoming a lawyer but wants to learn enough to represent himself. He believes the legal advice he received before led to his felony convictions.</p>
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<h6><strong>Disclaimer</strong></h6>
<p>The information discussed by Altcoin Buzz is not financial advice. This is for educational, entertainment, and informational purposes only. Any information or strategies are thoughts and opinions relevant to the accepted risk tolerance levels of the writer/reviewers and their risk tolerance may be different than yours. We are not responsible for any losses you may incur due to any investments directly or indirectly related to the information provided. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence. Copyright Altcoin Buzz Pte Ltd.</p>
<p>The post <a href="https://www.altcoinbuzz.io/cryptocurrency-news/ryan-salame-begins-prison-sentence-for-ftx-collapse/" rel="noopener noreferrer nofollow">Ryan Salame Begins Prison Sentence for FTX Collapse</a> appeared first on <a href="https://www.altcoinbuzz.io" rel="noopener noreferrer nofollow">Altcoin Buzz</a>.</p>

Ryan Salame Begins Prison Sentence for FTX Collapse

Altcoin Buzz

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