Ryan Salame’s Sentencing Delayed to May 28

The sentencing for former FTX co-CEO Ryan Salame has been postponed and rescheduled for May 28, according to a filing in Southern New York District Court. The reason for the delay from the original date of May 1 is unknown. Salame is one of the four members of FTX’s top management who were charged by the United States government, along with Sam Bankman-Fried, in relation to the collapse of the cryptocurrency exchange.

Among the four executives charged, which also include former Alameda Research head Caroline Ellison, FTX co-founder Gray Wang, and former FTX top engineer Nishad Singh, Salame is the only one who did not testify against Bankman-Fried. All four executives reportedly made plea deals with U.S. prosecutors. Salame is currently free on a $1-million bond and, like the others, has pleaded guilty to federal charges related to the FTX debacle.

Besides the cryptocurrency-related charges, Salame also faces allegations of campaign finance violations connected to his girlfriend Michelle Bond’s unsuccessful bid to represent New York’s First District in the House of Representatives. These charges, if proven, could result in sentences of up to five years in prison. Bankman-Fried’s legal team argued against the campaign contribution violation charges, as they were not part of his agreement on extradition from the Bahamas. These charges were later merged with the fraud charges against him.

During the trial, where he pleaded not guilty, Bankman-Fried claimed that he did not discuss his political donations with Salame. All four executives charged alongside Bankman-Fried have pleaded guilty to their respective charges. Salame’s role in the criminal activities at FTX remains somewhat unclear. It is reported that he was not closely associated with Bankman-Fried’s inner circle and was caught off guard by the exchange’s collapse, even falling ill upon hearing the news. Court records from the Bahamas revealed that Salame informed the country’s Securities Commission of irregularities at FTX in November 2022, leading to an investigation.