Convicted, former FTX executive Ryan Salame submitted himself to prison custody on October 11, 2024, at FCI Cumberland, according to Bureau of Prison records viewed by Cointelegraph.
Salame was sentenced to 90 months in prison for his role in the 2022 FTX collapse after pleading guilty to operating an unregulated money-transmitting business and campaign finance charges in 2023.
The former FTX executive attempted to delay his October 11 surrender date until December 7, 2024 — citing ongoing medical treatment for a dog bite — a motion strongly opposed by prosecutors and denied by Judge Lewis Kaplan in an October 10 ruling.
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Salame unfazed by prison sentence
Despite multiple attempts by Salame to delay the start of the prison sentence, the former FTX executive claimed to be relatively unfazed by the 7.5-year detainment.
Salame jokingly changed his Twitter profile and updated his LinkedIn page to reflect that he was now a prison inmate at the Cumberland Correctional Institution in Maryland.
The Laura Shin interview reveals all
Unchained podcast host Laura Shin interviewed Salame shortly before the start of his sentence in an episode that dropped on the day he submitted himself to prison authorities.
When asked about his withdrawal of nearly $600,000 in cryptocurrency amid the collapse of the FTX exchange, the former executive told Shin that it was “Not my brightest moment” and explained that his entire net worth was in FTX.
Salame indicated he needed the funds to cover legal expenses but acknowledged that he should not have withdrawn the money. Moreover, Salame claimed that at least one of those withdrawals was never spent and forfeited to the Department of Justice several weeks before the Unchained podcast episode aired.
The former executive also revealed plans to obtain a law degree during the interview. Salame said that he had no interest in practicing law as a career but sought to gain proficiency in the law to represent himself — arguing that previous legal counsel and advice provided was insufficient and caused his felony convictions.
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