Ryan Salame, FTX Executive, Gets Seven and a Half Year Prison Sentence
Ryan Salame, the head of FTX’s subsidiary in the Bahamas, was the first of Sam Bankman-Fried’s deputies to be sentenced since the crypto exchange collapsed in November 2022.
Ryan Salame, the head of FTX’s subsidiary in the Bahamas, was the first of Sam Bankman-Fried’s deputies to be sentenced since the crypto exchange collapsed in November 2022.
The FTX founder’s final destination wasn’t clear, but Mr. Bankman-Fried has told people close to him that he expected to be moved to a facility in Mendota, Calif.
Bankruptcy lawyers for FTX said customers of the cryptocurrency exchange were set to get all their money back, plus interest.
Since pleading guilty to violating money-laundering rules, Changpeng Zhao, who ran the giant crypto exchange Binance, has networked across the United States to set up his next act.
Mr. Bankman-Fried, who was convicted of stealing $8 billion from customers of his FTX cryptocurrency exchange, faced a maximum sentence of 110 years.
Here’s how the former crypto mogul’s 25-year sentence stacks up against the prosecutions of Michael Milken, Bernie Madoff and others.
Mr. Bankman-Fried, who was convicted of seven counts of fraud and conspiracy, faces a maximum penalty of 110 years.
The best tech, from universal power charging to foldable phones, solved practical problems. But the worst tech, including self-driving cars and cryptocurrency, put us in harm’s way.
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