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Former FTX manager begins prison sentence with LinkedIn post
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Former FTX manager begins prison sentence with LinkedIn post

  • Former FTX manager Ryan Salame goes to prison on Friday.
  • He took to LinkedIn on Wednesday to share his update.
  • A judge sentenced Salame to 7.5 years in prison earlier this year for his role in the collapse of FTX.

Former FTX executive Ryan Salame prepared to begin his seven and a half year prison sentence with a final Very Online post.

Salame, 31, who was part of Sam Bankman-Fried’s inner circle, posted a life update on LinkedIn two days before he was scheduled to report to a federal correctional facility in Cumberland, Maryland.

“I am pleased to announce that I am starting a new position as an inmate at FCI Cumberland,” Salame wrote Wednesday.

In May, a federal judge sentenced Salame to 7½ years in prison on fraud and campaign finance charges related to the 2022 collapse of crypto exchange Bankman-Fried.

Prosecutors accused Salame of conspiring with Bankman-Fried to defraud FTX investors and customers and make hundreds of illegal political campaign contributions.

Salame was one of four top FTX executives to plead guilty following the company’s bankruptcy. Caroline Ellison, former CEO of Alameda Research; Gary Wang, former FTX chief technology officer; and Nishad Singh, FTX’s former chief technical officer, also agreed to cooperate with federal investigators.

Bankman-Fried, meanwhile, was sentenced to 25 years in prison in March.

Salame began his career at Bankman-Fried’s Alameda Research before becoming co-CEO of FTX’s Bahamian subsidiary in 2021.

In the months before his prison sentence began, Salame posted frequently about his pain and posted hundreds of posts online on X.

Salame’s thoughts before incarceration included his support of former President Donald Trump after the Republican candidate spoke at a Bitcoin conference in Nashville. He has also complained about the injustice of the legal system.

Salame’s prison date was postponed several times after a dog bit him.

Last month he tried to withdraw his guilty plea, saying prosecutors had broken a promise made to him when they charged Michelle Bond, a cryptocurrency advocate and Salame’s romantic partner, earlier this year. Prosecutors have firmly rejected the accusation.

Salame later attempted to withdraw his recusal but was instead arraigned in court for 30 minutes by U.S. District Judge Lewis Kaplan.