⁠Former FTX Employee Jailed for Breaching Campaign Finance Laws

Another former executive of FTX has been jailed over his part in the cryptocurrency giant’s implosion in late 2022.

US federal prosecutors say Ryan Salame, who was the co-CEO of FTX’s Bahamian subsidiary, was sentenced to 90 months in prison.

Salame – who was a top lieutenant to Sam Bankman-Fried, the bankrupt crypto exchange’s founder – pleaded guilty in September last year to violating political campaign finance laws and operating an illegal money-transmitting business.

Earlier this year, Bankman-Fried was sentenced to 25 years in prison for stealing 8-billion US dollars from FTX customers.