Ryan Salame

Ryan Salame is an American business executive and former co-CEO of FTX Digital Markets, the Bahamian subsidiary of the collapsed cryptocurrency exchange FTX. Once positioned as a rising operator in offshore digital asset markets and a major political donor, he later became a key figure in the legal fallout from the FTX scandal. In 2024 he was sentenced to 7.5 years in U.S. federal prison after pleading guilty to conspiracy to make unlawful political contributions and to operate an unlicensed money-transmitting business.

Overview

Salame rose from a traditional accounting and finance background into senior roles at Alameda Research and FTX, where he helped build out over-the-counter trading and offshore exchange operations. As co-CEO of FTX Digital Markets in the Bahamas, he oversaw parts of the group’s international business during its rapid growth phase. He also became known for large political donations in the United States, particularly to Republican candidates, through both disclosed and undisclosed channels.

Following FTX’s bankruptcy in November 2022, investigations revealed that Salame had participated in illegal campaign finance schemes and operated payment flows for FTX customers without proper licenses. His subsequent guilty plea and prison sentence have made him one of several top FTX executives whose careers ended in criminal convictions.

Early Life and Education

Ryan Salame grew up in Sandisfield, Massachusetts. He attended Monument Mountain Regional High School in Great Barrington before studying at the University of Massachusetts Amherst, where he earned degrees in accounting and economics. He later completed a master’s degree in finance at Georgetown University’s McDonough School of Business.

After university he worked briefly at Ernst & Young, gaining experience in auditing and corporate finance. This early work helped establish his credentials as a certified public accountant and positioned him for roles in high-growth financial and crypto trading firms.

Career in Crypto and Role at FTX

Salame entered the digital asset industry by joining Alameda Research, the quantitative trading firm closely linked to FTX, where he worked on over-the-counter trading and high-volume crypto transactions. His performance in trading and operational roles led to increasing responsibilities within the FTX group.

In 2021 he became CEO, and soon after co-CEO, of FTX Digital Markets, the Bahamas-based subsidiary that operated FTX’s primary offshore exchange. From this position, he helped manage the platform’s local regulatory relationships and day-to-day operations for non-U.S. customers. FTX Digital Markets played a central role in the group’s structure, acting as the conduit through which many international clients accessed leveraged trading products.

Parallel to his exchange work, Salame was deeply involved in political giving. He helped channel tens of millions of dollars into U.S. elections, emerging as a major donor to Republican candidates and committees. Some of these contributions were later shown to rely on funds routed through FTX and Alameda in ways that violated campaign finance laws.

FTX Collapse and Investigations

In November 2022, FTX and its affiliates filed for bankruptcy following a liquidity crisis and revelations that customer funds had been misused to cover losses at Alameda Research and to support other ventures. As part of the fallout, internal communications surfaced showing that Salame had alerted Bahamian regulators shortly before the bankruptcy filing, signaling that customer assets might be at risk and describing potential fraud within the group.

U.S. authorities began investigating FTX’s leadership team, including Salame, focusing on campaign finance activities, money transmission practices, and internal control failures. In April 2023, the FBI raided his home in Maryland, seizing documents and electronic devices as part of a broader probe into FTX’s financial and political operations.

Guilty Plea and Sentencing

In September 2023, Salame pleaded guilty in federal court to two criminal counts: conspiracy to make unlawful political contributions and defraud the Federal Election Commission, and conspiracy to operate an unlicensed money-transmitting business. Prosecutors alleged that he helped direct tens of millions of dollars in political donations, often using straw donors and funds originating from FTX and Alameda, in order to influence regulation and public policy around digital assets.

On May 28, 2024, a U.S. district court sentenced Salame to 90 months (7.5 years) in prison. He was also ordered to pay more than $5 million in restitution, forfeit additional millions in assets, and give up properties and a luxury vehicle acquired during his time at FTX. The court emphasized that his actions undermined the integrity of both the financial system and the democratic process by combining unlicensed money transmission with covert political spending.

Later reporting showed that Salame reported to a federal correctional institution in Maryland in October 2024 to begin serving his sentence, with a projected release date in the early 2030s, subject to standard good-conduct credits and federal prison policies.

Business Interests and Political Activity

Beyond FTX, Salame invested heavily in restaurants and real estate in his home region of western Massachusetts, becoming a prominent local business figure. He acquired or funded several establishments in Lenox and surrounding towns, framing the investments as part of a broader effort to revitalize the local hospitality and dining scene.

His political activity included founding and funding the American Dream Federal Action super PAC, which supported candidates aligned with deregulatory and pro-crypto positions. Campaign finance disclosures and later court documents revealed that some of the funds he deployed came from loans and transfers tied to FTX and its affiliates, rather than personal earnings alone.

Significance for the Digital Asset Ecosystem

Ryan Salame’s trajectory from FTX executive and major political donor to convicted felon highlights the intersection of crypto market growth, political influence campaigns, and regulatory arbitrage. His case underscores how centralized platforms and their senior executives can use opaque corporate structures to move large sums across borders, both in markets and in politics.

For regulators and policymakers, the Salame prosecution has reinforced calls for stricter oversight of crypto exchanges, clearer rules on campaign finance involving digital asset firms, and tighter controls on money transmission activities. For the industry, his story serves as a cautionary example of how aggressive expansion, political spending, and weak compliance can lead not only to reputational damage but also to significant criminal exposure for executives involved.

• FTX Former Co-CEO