Former FTX Executive Ryan Salame Starts Prison Term

Ryan Salame, former co-CEO of FTX, has begun a 7.5-year prison sentence, sharing his new status as 'Inmate at FCI Cumberland' in a tongue-in-cheek LinkedIn update. He was convicted for illegal political donations and running an unlicensed money-transmitting business amid the fallout from the FTX collapse, which involved the loss of $8 billion in customer funds. Salame's post drew a mix of irony and humor from LinkedIn users, reflecting on his dramatic career shift. Although he forfeited $1.5 billion in assets, he retained his 2021 Porsche 911 Turbo S. Salame's legal troubles highlight a broader reckoning for FTX executives, with founder Sam Bankman-Fried sentenced to 25 years in prison earlier this year. Throughout his legal proceedings, Salame expressed frustration over perceived unfair treatment and alleged broken promises by prosecutors.