On the second day of the trial involving FTX co-founder Sam Bankman-Fried, Ryan Salame, a prominent FTX executive who played a crucial role in the exchange’s political fundraising operations, appeared at the federal courthouse.
FTX Executive In The Spotlight
Salame, the co-CEO of FTX Digital Markets in the Bahamas, pleaded guilty to conspiracy charges related to unlawful contributions, defrauding the Federal Election Commission, and operating an unlicensed money-transmitting business.
In a federal courtroom located in downtown Manhattan, Salame acknowledged violating campaign finance laws and engaging in unlicensed money transmission.
During his plea, Salame revealed that he had made substantial political contributions under the direction of Sam Bankman-Fried. These contributions were initially labeled as loans from Alameda Research, a crypto hedge fund affiliated with FTX.
Salame disclosed, “I understood that the loans would eventually be forgiven and that I would never have to repay them.” When asked if he was pleading guilty to the charges, Salame responded, “Yes, Your Honor.”
Trial Of Sam Bankman-Fried Begins With Prosecution’s Opening Statement
In the highly anticipated trial, the prosecution presented its opening statement, delivered by Assistant United States Attorney Rehn.
Judge Kaplan: Opening statements are…
