Ryan Salame, a former high-ranking executive at collapsed crypto exchange FTX, was sentenced to 7 and a half years in prison for illegally making campaign contributions and operating an unlicensed money-transmitting business. Salame, 30, was part of the "inner circle" at FTX and co-CEO of FTX Digital Markets for most of the company's existence. While not a major figure in the prosecution against Bankman-Fried, Salame cooperated with prosecutors and provided documents that aided in cross-examining Bankman-Fried. Salame assisted Bankman-Fried in concealing financial discrepancies in FTX's accounts and in making unlawful political donations to affect cryptocurrency regulations, leading to the company's failure.
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00:00 It's Benzinga and here's what's on the block.
00:02 Ryan Salame, a former high-ranking executive at collapsed crypto exchange FTX, was sentenced
00:07 to seven and a half years in prison for illegally making campaign contributions and operating
00:12 an unlicensed money-transmitting business.
00:15 Salame, 30 years old, was part of the inner circle at FTX and co-CEO of FTX Digital Markets
00:21 for most of the company's existence.
00:23 While not a major figure in the prosecution against Bankman Freed, Salame cooperated with
00:27 prosecutors and provided documents that aided in cross-examining Bankman Freed.
00:32 Salame assisted Bankman Freed in concealing financial discrepancies in FTX's accounts
00:36 and in making unlawful political donations to affect cryptocurrency regulations, leading
00:41 to the company's failure.
00:42 For all things money, visit Benzinga.com.
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