Incarcerated former FTX executive Ryan Salame appears to have already slashed a year off his prison sentence.
Data from the U.S. Federal Bureau of Prisons indicates Salame’s release date is now March 1st, 2031. The former co-chief executive of FTX Digital Markets reported to prison in October after being sentenced to 7.5 years behind bars, meaning he was initially scheduled for release around April 2032.
Salame pled guilty last year to conspiracy to make unlawful political contributions and defraud the Federal Election Commission (FEC), as well as conspiracy to operate an unlicensed money-transmitting business.
In May, District Judge Lewis A. Kaplan sentenced the former executive to 7.5 years behind bars, but a legal dust-up over the indictment of the mother of his child, Michelle Bond, delayed the start of his prison term.
FTX imploded and filed for bankruptcy in November 2022 amid accusations that founder and CEO Sam Bankman-Fried mishandled the exchange’s funds by loaning out billions of dollars worth of customer deposits to Alameda Research, the firm’s trading arm, to make risky crypto bets that went awry.
The exchange’s multi-billion dollar collapse led to a sharp downtick in crypto prices, and US federal authorities arrested Bankman-Fried the following month. In March, Judge Kaplan sentenced Bankman-Fried to 25 years in prison and three years of supervised release.
He also ordered the 32-year-old to pay $11 billion in forfeiture. Bankman-Fried is appealing his conviction and sentence.
Don’t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
Check Price Action
Follow us on X, Facebook and Telegram
Surf The Daily Hodl Mix
 
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Generated Image: Midjourney
Credit: Source link
