NEW YORK / LONDON (IT BOLTWISE) – The legal disputes surrounding the former cryptocurrency exchange FTX are never ending. While former CEO Sam Bankman-Fried has already been convicted, others involved are the focus of the investigation. The latest developments involve Ryan Salame and his partner Michelle Bond facing allegations of illegal campaign financing.
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The legal aftermath of the collapse of the cryptocurrency exchange FTX continues to spread widely. At the center of the current developments is Ryan Salame, the former co-CEO of FTX Digital Markets. Salame pleaded guilty and was sentenced to several years in prison. During an evidentiary hearing in the U.S. District Court for the Southern District of New York, prosecutor Danielle Sassoon said her team would likely stop investigating Salame if he pleaded guilty.
This statement sheds new light on the allegations against Salame’s then partner Michelle Bond. Bond faces illegal campaign finance charges related to Salame’s alleged direction to use $400,000 in FTX funds for Bond’s 2022 campaign. Bond has pleaded not guilty and sought to dismiss the charges, claiming prosecutors tricked Salame into pleading guilty.
The charges against Bond are the latest in a series of criminal proceedings launched following the collapse of FTX in November 2022. While Salame has already begun his prison sentence, Bond’s future remains uncertain. The prosecutor emphasized that she is not out to trick people into pleading guilty, but that calls into question Bond’s defense.
The FTX case has far-reaching implications for the cryptocurrency industry, which has struggled to regain confidence since the company’s collapse. While some former executives such as Caroline Ellison and Gary Wang have already been convicted, the case of Sam Bankman-Fried remains in focus. Bankman-Fried was imprisoned for witness tampering and later sentenced to a long prison sentence. His lawyers are currently trying to challenge the verdict, claiming he was never considered innocent during his trial.
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