Prosecutors say Sam Bankman-Fried used Salame as a “straw donor” to secretly funnel millions of dollars to Republican political candidates.
Ryan Salame, a top FTX executive who reportedly played a key role in the exchange’s political fundraising operations, pleaded guilty on Thursday to federal criminal charges tied to the exchange’s collapse.
When Bankman-Fried’s FTX empire collapsed last fall, Salame was co-chief of FTX Digital Markets, the exchange’s Bahamas-based subsidiary. A Republican megadonor, Salame reportedly served as a secret go-between forSalame was arraigned on Thursday at the U.S. Courthouse in the Southern District of New York. BloombergOther former leaders of the FTX exchange empire – Caroline Ellison, Gary Wang, and Nishad Singh – have already pleaded guilty to criminal charges.
Salame doled out more than $24 million to Republican political candidates during his time at FTX, and he was the 11th largest individual U.S. political donor in 2022 according to. In a court filing last month, prosecutors shared “private messages” from Salame that purport to show him explaining how he was used as a straw donor to secretly funnel money from FTX and Bankman-Fried.
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