Former FTX executive in the crosshairs of federal prosecutors

Months after the collapse of FTX, a former FTX executive, Ryan Salame, is catching the eye of federal prosecutors and is now under investigation.

Ryan Salame, the new target of federal prosecutors

The crypto ecosystem seems to be one investigation after another. This time, it’s the turn of a former director exchange to face justice. According to one report published Tuesday by the Wall Street Journal, Ryan Salame the former co-director of FTX in the Bahamas, is facing an investigation by federal prosecutors.

The charges involve, among other things, possible violations of federal limits on campaign contributions to Michelle Bond. Bond’s girlfriend was a candidate in last year’s Republican primary for New York’s 1st Congressional District. However, it was only this year that the feds took an interest in the case.

According to the report, the investigation dates back to April. Indeed, a search warrant was executed and the couple’s cell phones were seized during a search of their Maryland home. Currently, federal prosecutors are examining the money used to finance the Bond. According to a Congressional financial disclosure, in addition to holding a position of CEO within the Association for Digital Market Assets she was also a consultant for FTX.

An investigation separate from that of Sam Bankman-Fried

The crypto market has been through some tough times during 2022, most notably, the fall of FTX. Known as the world’s largest cryptocurrency exchanges, its collapse was one of the industry’s roughest. With regulators investigating, SBF the founder of the exchange has even more problems to deal with.

Accused of fraud, conspiracy and campaign finance law violations, he will have to answer for his actions in October. However, the Ryan Salame is quite distinct from this one. However, even though he is not charged in the FTX on Wall Street Journal identifies him as an anonymous conspirator.

In fact, he is said to have taken part in another campaign finance conspiracy outside that of Bond. He was called to appear at the trial of Sam Bankman-Fried, but his will be on other charges.
The Ryan Salame case is one of many shaking up the crypto ecosystem. Indeed, several crypto platform executives are facing charges from federal prosecutors. Between the accusations of SEC vs. Binance Ripple or Coinbase, regulators have their work cut out for them.