Ryan Salame, a key figure in the collapsed cryptocurrency exchange FTX, has been sentenced to seven and a half years in prison.
Salame, 30, who served as co-CEO of FTX Digital Markets, is the first of Sam Bankman-Fried’s close associates to receive jail time for their involvement in the 2022 downfall of FTX.
Last year, Salame pleaded guilty to making illegal US campaign contributions and operating an unlicensed money-transmitting business.
His sentence of 7.5 years in prison, followed by three years of supervised release, exceeds the five to seven years recommended by prosecutors.
Although Salame held a major role at FTX, he was not a primary focus in the government’s case against Bankman-Fried during his trial earlier this year and did not testify against him.
During his sentencing, Salame sought leniency, highlighting his cooperation with prosecutors.
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It included providing documents that assisted in the cross-examination of Bankman-Fried.
Salame’s involvement included helping Bankman-Fried conceal the financial issues leading to FTX’s collapse.
He also acted as a conduit for Bankman-Fried’s illegal campaign contributions, which aimed to influence US cryptocurrency policy.
While Bankman-Fried’s contributions were mainly toward Democrats and liberal causes, Salame’s contributions went to Republicans and conservative causes.
However, the funds for these contributions originated from Bankman-Fried.
