Former FTX exec Ryan Salame pleads guilty weeks before Bankman-Fried’s trial

As part of his plea, Salame admitted to making $10 million in political contributions and falsely labeling them “loans”

article-image

Sergei Elagin/Shutterstock modified by Blockworks

share

Former FTX exec Ryan Salame has pleaded guilty to charges related to his role at the failed crypto exchange. 

Salame appeared in court Thursday to plead guilty to charges of conspiracy to defraud the Federal Elections Committee and operating an unlicensed money transmitting business. The combined charges carry a maximum of ten years in prison. 

“Ryan Salame agreed to advance the interests of FTX, Alameda Research, and his co-conspirators through an unlawful political influence campaign and through an unlicensed money transmitting business, which helped FTX grow faster and larger by operating outside of the law,” US Attorney Damian Williams said in a statement. “Today’s guilty plea reflects the commitment I made in December that my Office would continue to pursue swift justice against individuals at FTX and its affiliates who engaged in criminal conduct.” 

Salame entered his guilty plea in Manhattan Thursday afternoon, weeks before former CEO Sam Bankman-Fried is set to stand trial on Oct. 2. 

As part of his plea, Salame admitted to making $10 million in political contributions and falsely labeling them “loans.” He noted that Bankman-Fried endorsed this action.  

Salame’s plea marks the fourth former FTX executive to opt for a guilty plea over a jury trial. Caroline Ellison, former FTX CEO, pleaded guilty to seven offenses, including charges of money laundering and wire fraud. 

Bankman-Fried’s co-founder Gary Wang was the first to enter a guilty plea. In December, Wang pleaded guilty to four counts, including wire fraud and conspiracy to commit money laundering. 

Nishad Singh, another co-founder, pleaded guilty to five charges, including securities and wire fraud, in February. He is scheduled to be sentenced on Nov.13. 

Ellison, Wang and Salame do not yet have sentencing hearings scheduled.


Get the news in your inbox. Explore Blockworks newsletters:

Tags

Upcoming Events

Old Billingsgate

Mon - Wed, October 13 - 15, 2025

Blockworks’ Digital Asset Summit (DAS) will feature conversations between the builders, allocators, and legislators who will shape the trajectory of the digital asset ecosystem in the US and abroad.

Industry City | Brooklyn, NY

TUES - THURS, JUNE 24 - 26, 2025

Permissionless IV serves as the definitive gathering for crypto’s technical founders, developers, and builders to come together and create the future.If you’re ready to shape the future of crypto, Permissionless IV is where it happens.

recent research

Research

article-image

Sponsored

Connect in one click from any device to help build a verifiable world and earn rewards

article-image

The Flippening was always a meme, but for a moment it wasn’t so funny

article-image

Frachtis is focused on pre-seed and seed rounds in both consumer apps and AI

article-image

Markets look forward, even when we can’t see past the news

article-image

Solana’s price run might stall as ETH gains institutional favor

article-image

The soccer club is using the XRP-compatible Root blockchain and is expected to release a mobile racing game, too