FTX Exec Ryan Salame Faces 5-7 Years for Crypto Crimes
The post FTX Exec Ryan Salame Faces 5-7 Years for Crypto Crimes appeared first on Coinpedia Fintech News
A former executive at the collapsed FTX, Ryan Salame, is facing imprisonment of five to seven years due to the severity of his crimes in the FTX case. According to a recent Bloomberg report, he pleaded guilty to multiple serious charges, including enabling FTX to accept over $1 billion in customer deposits without proper licensing. Meanwhile, his lawyers are advocating for a much lighter sentence of no more than 18 months. Notably, as part of his plea deal, Salame agreed to forfeit $6 million worth of assets to the government. Salame’s sentencing, scheduled for May 28, serves as a stark reminder of the severe consequences of violating crypto regulations.
