Former FTX executive Ryan Salame has reportedly held talks with federal prosecutors regarding a plea deal.
Salame could plead guilty to criminal charges related to the crypto exchange’s collapse as soon as September.
It is unclear if Salame’s plea deal would require him to testify against his former boss Sam Bankman-Fried.
Reports of the plea deal come a month after federal prosecutors launched a probe into Salame’s campaign finance law violations.
Ryan Salame, the former Co-Chief Executive of FTX Digital Markets, has reportedly held talks with federal prosecutors regarding a plea deal in connection with the charges stemming from the crypto exchange’s collapse. News of the plea deal negotiation comes more than three months after the Federal Bureau of Investigation (FBI) raided Salame’s house in Potomac, Maryland.
FTX’s Ryan Salame Could Plead Guilty Next Month
People familiar with the matter revealed that Ryan Salame could plead guilty to charges related to FTX as soon as next month, Bloomberg reported earlier today. The charges will likely include criminal offenses in relation to the bankrupt crypto exchange and campaign finance law violations. Salame is one of the few executives who haven’t faced any charges following FTX’s collapse in November last year.
It is unclear if the former FTX executive’s plea deal with the Department of Justice would require him to testify against his former boss Sam Bankman-Fried, who is facing multiple charges, including wire fraud, securities fraud, bribery allegations, campaign finance laws violations, etc. Salame’s former co-workers, including ex-Alameda Research CEO Caroline Ellison and FTX co-founder Gary Wang, have already entered plea agreements with the Justice Department and will testify in the lawsuit against Bankman-Fried.
Salame was known to be a prolific political donor and previously made headlines for donating as much as $24 million to Republican candidates in the United States. His political campaign contributions came under scrutiny last month after federal prosecutors initiated an investigation over potential campaign finance laws violations in relation to the political campaign of his girlfriend, Michelle Bond, who was a congressional candidate in 2022.