Top FTX Executive Sentenced to 7½ Years in Prison

2024-05-28 16:07:43+00:00 - Scroll down for original article

Click the button to request GPT analysis of the article, or scroll down to read the original article text

Original Article:

Source: Link

Ryan Salame, a top executive at the collapsed cryptocurrency exchange FTX, was sentenced to seven and a half years in prison on Tuesday, making him the first of Sam Bankman-Fried’s circle of advisers at FTX to receive prison time. Mr. Salame, 30, a trusted lieutenant of Mr. Bankman-Fried, the exchange’s founder, pleaded guilty last year to a campaign finance law violation and a charge of operating an unlicensed money transmitting business. He is one of four top deputies in the FTX empire who have pleaded guilty to crimes since the company imploded in November 2022. Mr. Salame’s sentence exceeded the five to seven years that prosecutors had recommended. Defense lawyers had asked for 18 months. Wearing a blue suit and socks emblazoned with the Bitcoin logo, Mr. Salame stood facing Judge Lewis A. Kaplan as the sentence was read aloud in U.S. District Court in Manhattan. Judge Kaplan called Mr. Salame’s crimes “astonishing.”