Former FTX co-CEO, Ryan Salame, has been sentenced to 90 months in prison for conspiring to make illegal political contributions and defrauding the Federal Election Commission. Salame also conspired to run an unlicensed money-transmitting business. He served as the co-CEO of FTX Digital Markets, FTX's Bahamas-based subsidiary, from 2019 to 2021.

Salame's legal team argued for a minimum term of 18 months, citing his role in notifying Bahamian authorities about potential fraud in late 2022. However, US probation authorities recommended a 10-year sentence. Salame's actions were said to have undermined public trust in American elections and the financial system.

Court proceedings revealed that Salame, along with others, ran an unlicensed money-transmitting business, using FTX, Alameda Research, and "North Dimension" to transmit customer funds without proper licensing. They also made false statements to US banks to sustain these illicit activities.

In addition to his prison term, Salame was also ordered to forfeit over $6 million and provide restitution exceeding $5 million. This case underlines the importance of regulatory compliance in the blockchain industry and the severe consequences of non-compliance.