Former FTX Executive Ryan Salame Admits Guilt Before Bankman-Fried’s Trial

Former FTX executive Ryan Salame has admitted to the allegations related to his role at the FTX cryptocurrency exchange.

Salame admitted to charges of defrauding the Federal Election Commission and operating an unlicensed money transfer business in court today.

Salame’s Confession and Statements

US Attorney Damian Williams stated, “Ryan Salame has admitted to advancing the interests of FTX, Alameda Research, and their collaborators through an unlawful political influence campaign and illegal transactions. This facilitated FTX’s growth beyond legal regulations, allowing it to grow faster and bigger.”

Salame’s Confession and the Status of Former Executives

Salame admitted to making $10 million in political donations within the scope of his guilt and falsely labeling them as “loans,” mentioning that Bankman-Fried approved this action.

Salame’s guilty confession marks the fourth among former FTX executives who have chosen a guilty plea instead of a jury trial. Former FTX CEO Caroline Ellison accepted seven charges, including money laundering and wire fraud.

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