According to BlockBeats, on October 9, former FTX Digital Markets co-CEO Ryan Salame will report to a federal correctional institution on October 11 to serve a sentence of 7 and a half years. As one of the executives suspected of criminal charges after the collapse of FTX, Salame pleaded guilty in September 2023 to conspiracy to make illegal political contributions and defraud the Federal Election Commission.
Salame will be the second FTX executive to face prison time after SBF was sentenced to 25 years in prison in March. In September, a judge sentenced former Alameda Research CEO Caroline Ellison to two years in prison.
Other executives named in the same indictment, Nishad Singh and Gary Wang, are scheduled to be sentenced on October 30 and November 20, respectively. (Cointelegraph)