Former FTX Executive Is Locked-In on LinkedIn and Federal Prison

Former FTX co-CEO Ryan Salame has updated his LinkedIn illustration with a caller role: a captive successful a national correctional institute. “I’m blessed to stock that I’m starting a caller presumption arsenic Inmate astatine FCI Cumberland!” He said successful a post supra an animated representation celebrating his caller position.

Image via LinkedIn.

Salame’s occupation past includes clip astatine a clump of prestigious crypto businesses. He worked the crypto OTC trading table astatine Circle, was the caput of OTC astatine Alameda Research (one of the branches of FTX) and yet became the co-CEO of FTX Digital Markets. Now he’s added different occupation to the list: Inmate, full-time, astatine FCI Cumberland. His skills? Cleaning and whittling.

Image via LinkedIn.

The station was a deed connected LinkedIn and has, arsenic of this writing, garnered much than 1,000 comments. It was truthful fashionable that it broke containment and dispersed to different societal media sites similar X wherever it’s been reposted excessively galore times to count. We emotion it erstwhile idiosyncratic who’s been convicted of a transgression takes it good-naturedly, particularly erstwhile those crimes are fiscal successful nature.

Salame was portion of the enforcement enactment squad of FTX wherever helium worked intimately with laminitis Sam Bankman-Fried and main technologist Nishad Singh. FTX was a crypto occurrence story, for a while, but it turned retired the institution was robbing Peter to wage Paul. Now astir of its executives are successful jail.

In September of past year, Salame pleaded blameworthy to utilizing FTX’s currency to donate tens of millions of dollars to governmental campaigns connected some sides of the aisle. The extremity was to get politicians to walk crypto-friendly legislation. According to the Justice Department, Salame and FTX made much than $300 cardinal successful governmental contributions and lied astir wherever the wealth came from.

“Ryan Salame agreed to beforehand the interests of FTX, Alameda Research, and his co-conspirators done an unlawful governmental power run and done an unlicensed wealth transmitting business, which helped FTX turn faster and larger by operating extracurricular of the law,” U.S. Attorney Damian Williams said in a statement astir Salame’s sentencing. “Salame’s engagement successful 2 superior national crimes undermined nationalist spot successful American elections and the integrity of the fiscal system. Today’s condemnation underscores the important consequences for specified offenses.”

Salame is 30 and if he’s successful the tin for his afloat sentence, helium won’t get to update his LinkedIn illustration again for much than 7 years. In summation to the clip down bars, Salame agreed to forfeit $1.5 cardinal and wage an further $6 cardinal forfeiture and much than $5 cardinal successful restitution.

Salame is 1 of the harsher sentences handed down successful the aftermath of the illness of FTX. Bankman-Fried was sentenced to 25 years successful situation and ordered to forfeit $11 billion. His on-again-off-again woman and caput of Alameda Research, Caroline Ellison, was sentenced to 2 years. Singh and enforcement Gary Wang are inactive waiting to perceive their fate, which the courts volition manus down connected October 20 and November 20 respectively.

We’ll person to ticker their LinkedIn profiles to spot however good they instrumentality it.