Former FTX Executive Ryan Salame’s Prison Sentence Reduced by 1 Year
Former executive of FTX cryptocurrency exchange Ryan Salame yesterday had one year taken off his prison sentence.
According to Business Insider, Salame was initially sentenced to over seven years for his involvement in the downfall of FTX, but now he will serve just over six and a half years, according to Federal Bureau of Prisons records.
This change came after Salame began serving his sentence in October at Cumberland, Maryland prison. By exhibiting good behavior while incarcerated, Salame was able to earn a reduction in his sentence, as is allowed by federal policies.
Salame formerly served as the CEO of FTX Digital Markets, the Bahamian subsidiary of FTX, and pleaded guilty in September 2023 to charges of making unlawful political contributions and operating an unlicensed money transmission business. Earlier this year, Salame attempted to withdraw his guilty plea, causing controversy.
