Former Alameda Research Boss Sam Trabucco Reemerges to Defend Ryan Salame Before Sentencing

Reports indicate that Sam Trabucco, the former co-CEO of the cryptocurrency trading firm Alameda Research, penned a letter to the judge set to sentence Ryan Salame, co-CEO of FTX Digital Markets. Trabucco’s letter emerged amidst numerous inquiries about his whereabouts throughout the ongoing turmoil. In his message, Trabucco referred to Salame as his “best friend” and asserted that Salame “doesn’t deserve to be defined by his worst actions.”

Elusive Ex-Alameda CEO Trabucco Writes to Judge Kaplan for Salame, Some Question if He Was a DOJ Informant

Before Ryan Salame’s sentencing, Sam Trabucco, who had been notably absent, resurfaced. Trabucco composed a reference letter to Judge Lewis Kaplan, who oversaw the criminal trial and sentencing of Sam Bankman-Fried. Trabucco was initially the CEO of Alameda Research and later shared the role of co-CEO with Caroline Ellison.

Not long after Ellison joined, the 30-year-old Trabucco departed just before the FTX collapse in Aug. 2022. Throughout the case, the community has been curious about Trabucco’s elusive presence, with occasional reports of him being seen in public. In his letter to Kaplan, Trabucco sought to depict Salame as someone who made mistakes rather than a villain. He acknowledged Salame’s crimes while maintaining their friendship.

“He’s acknowledged that and is prepared to accept the consequences,” Trabucco states in the letter. “I want those consequences to be fair – not too light, not too excessive, but fair. Because, like anyone, Ryan doesn’t deserve to be defined by his worst actions.”

The community saw the letter as peculiar, leading to speculation that Trabucco might have been a Department of Justice (DOJ) informant all along. Trabucco has not been accused of any wrongdoing and has remained silent throughout the proceedings. “So it’s pretty clear that Trabucco was a confidential DOJ informant in FTX/Alameda, right?” asked Cinneamhain Ventures partner Adam Cochran on X. Cochran added:

No charges, no mention, and now writing references. People credit CZ with the FTX takedown, but Trab left well before that, and clearly went straight to the Feds.

It remains unclear if Trabucco reached an agreement with federal authorities. Cochran described it as “wild” that a “reference letter from a criminal, is being used to hope to get a lower sentence for another criminal.” Since FTX’s downfall, Trabucco has not used his X account to communicate with the community, unlike several other former FTX and Alameda employees. Salame’s sentencing by Kaplan is set for May 28.

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