Ryan Salame, the former co-chief executive of FTX Digital Markets, has
announced his transition to a new role as an inmate. In a LinkedIn
update, Salame revealed that he will be confined within the Federal
Correctional Institution at Cumberland, where he has acquired new skills
such as "cleaning and whittling."
The announcement has garnered some lighthearted responses, with comments like "from blockchains to being in chains" and "they're lucky to have you." This development comes as Salame seeks to delay his original prison surrender date of October 11th, citing ongoing medical treatment for injuries sustained in June 2024.
Salame's legal team has requested a new surrender date of December 7th, following a recent warning from a federal judge about possible sanctions for false statements made during his guilty plea. Initially, Salame had denied any deals with prosecutors, but later admitted that they had agreed to drop a criminal investigation into his partner, Michelle Bond, in exchange for his cooperation.
In May 2024, Salame was sentenced to 90 months, or seven and a half years, in prison, along with three years of supervised release and an order to pay over $11 million in forfeiture and restitution for his role in FTX's fraudulent activities. The sentence surprised many, as prosecutors had recommended a sentence between 5-7 years, while Salame's defense had sought just 18 months.
It is worth noting that in the United States, prison inmates are generally denied internet access due to safety and regulatory concerns. However, Salame faced an unusual incident this past summer when he suffered a dog bite, resulting in a facial injury. This led to the delay of his original prison reporting date from August 29th to the current month, to allow for the "urgent and necessary medical treatment and surgery" required after the attack.
Meanwhile, Sam Bankman-Fried, the former CEO of FTX, is currently serving a 25-year sentence at New York's Metropolitan Detention Center for his role in the FTX fraud. Reportedly, Bankman-Fried is housed in the same unit as Sean "Diddy" Combs.
