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Co-CEO Of FTX Digital Markets Pleads Guilty To Criminal Charges

Ryan Salame has pleaded guilty to his criminal charges. (Photo: CNBC)
Ryan Salame has pleaded guilty to his criminal charges. (Photo: CNBC)

FTX Digital Markets’ Co-CEO is a criminal.

Ryan Salame's sentencing is schedule for March 2024. (Photo: Puck News)

Ryan Salame’s sentencing is scheduled for March 2024. (Photo: Puck News)

FTX Digital Markets’ Co-CEO Is Facing Criminal Charges

Former FTX Digital Markets co-CEO Ryan Salame has pleaded guilty to charges of defrauding the US Federal Election Commission (FEC) and operating an unlicensed money-transmitting business. He, the co-CEO of FTX Digital Markets, is the fourth major player connected to the defunct crypto exchange FTX to face criminal charges.

Salame, the co-CEO of FTX Digital Markets, made campaign contributions to his girlfriend’s congressional campaign, violating campaign finance laws, and admitted to making $10 million in political contributions that the co-CEO of FTX Digital Markets called loans but never intended to repay.

The co-CEO of FTX Digital Market will pay approximately $6 million in penalties, $5 million to FTX Digital Markets debtors, and surrender two properties and a Porsche.

According to a published article by the Cointelegraph, sentencing for the case of FTX Digital Market is scheduled for March 6, 2024. Others connected to FTX Digital Markets, including former CEO Sam Bankman-Fried, have also faced legal action.

Ryan Salame Could Forfeit $1.5B

In a published article by Coindesk, Ryan Salame admitted to being a straw donor to Republican political candidates. Sam Bankman-Fried is also said to have donated to Democrats.

READ ALSO: Serious Fraud Office Ties To Oligarchs Exploiting Legal Loopholes For Wealth Concealment Unearthed

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