Ryan Salame served as co-CEO of FTX Digital Markets (the FTX entity incorporated in the Bahamas) and was one of the inner circle of FTX executives who worked directly under Sam Bankman-Fried; he pleaded guilty in September 2023 to conspiracy to make illegal campaign contributions (funneling FTX money to U.S. political campaigns to circumvent federal campaign finance limits) and conspiracy to operate an unlicensed money transmitting business, and was sentenced to 7.5 years in federal prison in May 2024 — a longer sentence than Caroline Ellison’s largely because Salame chose not to cooperate with federal prosecutors.
Background
Ryan Salame grew up in Sandisfield, Massachusetts. He worked in accounting and finance before joining FTX, where he rose to co-CEO of FTX Digital Markets — the Bahamas-incorporated operating entity — and became one of SBF’s closest operational lieutenants.
Role at FTX
Salame was responsible for:
- Regulatory relationships — managing FTX’s licensing and regulatory interactions in the Bahamas, including with the Securities Commission of the Bahamas.
- Political spending — directing tens of millions of dollars in political donations using FTX customer funds, primarily to Republican candidates and causes (SBF handled Democratic donations), in violation of FEC campaign finance laws that prohibit corporate/foreign national donations.
- FTX Digital Markets operations — day-to-day management of the Bahamas entity through which significant customer funds flowed.
Criminal Charges and Conviction
Salame was charged with:
- Conspiracy to make unlawful campaign contributions — Allegedly used FTX funds and nominee donors to circumvent FECA limits, funneling $24+ million to political campaigns, primarily Republicans.
- Conspiracy to operate an unlicensed money transmitting business — Related to FTX’s operations directing customer funds without proper U.S. licensing.
He did not cooperate with the government — unlike Ellison, Gary Wang, and Nishad Singh — and did not testify against SBF. This decision significantly influenced his sentencing.
Sentencing
On May 28, 2024, Judge Lewis Kaplan sentenced Salame to 7.5 years in federal prison, the longest sentence among FTX executives who pleaded guilty and one of the harshest in the case aside from SBF’s own 25-year sentence. He was also ordered to forfeit $6.5 million and pay $11 billion in restitution jointly with other defendants.
Key Dates
- 2019 — Joins FTX; becomes co-CEO of FTX Digital Markets.
- November 2022 — FTX collapses; Bahamian authorities seize FTX Digital Markets assets.
- September 7, 2023 — Pleads guilty to two conspiracy counts.
- May 28, 2024 — Sentenced to 7.5 years in federal prison.
Common Misconceptions
- “Salame was a peripheral figure at FTX.” — As co-CEO of the primary operating entity and key political spending conduit, he was central to FTX’s fraud.
- “Not cooperating with prosecutors was strategically wise.” — Compared to Caroline Ellison’s 2-year sentence for full cooperation, the 7.5-year sentence illustrates the significant legal value of cooperation agreements in federal criminal cases.
Last updated: 2026-04