🚨Crypto world, hold onto your hats! 🎩 Former FTX co-CEO Ryan Salame has been sentenced to a whopping 90 months in prison! 🚔 This news comes straight from Damian Lewis, the United States Attorney for the Southern District of New York.

Salame had previously admitted to conspiring to make illegal political contributions and defraud the Federal Election Commission. He also confessed to running an unlicensed money-transmitting business. Quite a rap sheet, huh? 📜

From 2019 to 2021, Salame was the co-CEO of FTX Digital Markets, FTX's Bahamas-based subsidiary. His legal team argued for a minimum sentence of 18 months, citing his role in alerting Bahamian authorities about potential fraud just before FTX's bankruptcy filing in late 2022. But the US probation authorities had other ideas, recommending a stern 10-year prison sentence. 😱

Salame's crimes, according to Williams, undermined public trust in American elections and the integrity of the financial system. His sentence, Williams said, underscores the serious consequences for such offenses.

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 allegedly made false statements to US banks to sustain these illicit activities.

In addition to his prison term, Salame also faces three years of supervised release and has been ordered to pay over $6 million in forfeiture and more than $5 million in restitution.

Earlier this year, Bankman-Fried received a 25-year prison sentence after being found guilty of using billions of dollars in customer deposits to cover risky investments made by his hedge fund, Alameda Research.

Stay tuned, crypto enthusiasts! This is a reminder that while we're all bullish on BTC, it's important to play by the rules! 🚀🌕