Former FTX Digital Markets co-CEO Ryan Salame has had his prison sentence reduced. Salame pleaded guilty to charges in September 2023 and was initially sentenced to 7.5 years in prison.
Sentencing and Reduction
Ryan Salame was sentenced to 7.5 years in prison in May 2024 for his involvement in operating an unlicensed money-transmitting business and campaign finance violations. However, his sentence has been reduced by one year, setting his release for March 2031.
Defense and Prosecution Stances
Salame’s attorneys initially sought a shorter sentence, arguing the forfeiture of his assets was punishment enough and that he was unaware of FTX fraud. US federal prosecutors recommended a sentence of 5-7 years due to the case’s severity and financial losses, but the court determined a 90-month sentence was warranted.
Failed Attempt to Void Guilty Plea
In August 2024, Salame attempted to withdraw his guilty plea, claiming prosecutors breached plea deal conditions concerning his partner Michelle Bond. However, after failing to void the plea and delay his sentence, he was taken into custody in October 2024.
The reasons for the reduction in Ryan Salame’s prison sentence remain unclear. He will serve time at a medium-security facility until 2031.
