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FBI Raids the Home of FTX Executive Ryan Salame

Press Releases Crypto News CryptoBriefing FBI Raids the Home of FTX Executive Ryan Salame

Key Takeaways

The FBI raided former FTX executive Ryan Salame’s home yesterday.
Salame made $24 million in campaign contributions to U.S. politicians during the midterm elections.
Sam Bankman-Fried has already been accused of violating campaign finance laws.

Former FTX Digital Markets co-CEO Ryan Salame is being investigated for the role he played in Sam Bankman-Fried’s empire. He is currently under scrutiny for the $24 million in political contributions he made during the 2022 midterm elections.

Violating Campaign Finance Laws

The fallout from FTX’s collapse continues.

According to the New York Times, the Federal Bureau of Investigation raided the $4 million Washington D.C. home of former FTX executive Ryan Salame on Thursday morning.

Salame joined FTX sister company Alameda Research as head of OTC trading in November 2019. He then became co-CEO of FTX Digital Markets—FTX’s Bahamian business entity—shortly after the company moved from Hong Kong to the Bahamas, in 2021. The FTX bankruptcy team has claimed that, as one of Sam Bankman-Fried’s most trusted advisors, Salame pocketed at least $87 million in bonuses and loans from Alameda.

Salame is under scrutiny for donating over $24 million in campaign contributions to U.S. politicians during the 2022 midterm elections. The Justice Department alleges that FTX executives (most notably Salame, FTX co-founder Sam Bankman-Fried, and former FTX head of engineering Nishad Singh) made over $90 million in donations with funds originally belonging to FTX customers. While Bankman-Fried publicly donated $46.5 million in the last two years to political entities associated with the Democratic Party, Salame made contributions to Republican candidates on Bankman-Fried’s behalf.

Prosecutors have yet to file any

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Author: Tom Carreras

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