Ryan Salame, former co-chief executive of FTX Digital Markets, the Bahama-based subsidiary of bankrupt cryptocurrency exchange FTX, is meeting with prosecutors over a possible plea deal, according to sources close to the investigation.
Salame, who resigned from his position in November 2022, has been collaborating with authorities since the FBI raided his $4 million home in Maryland in April 2023. Salame had briefed mostly about his political donations of more than $23 million to Republican candidates and the super PAC he founded, the American Dream Federal Action.
Salame is a key figure in the fraud case against Sam Bankman-Fried, founder and former CEO of FTX.
It is unclear whether Salame will sign a cooperation agreement with prosecutors and testify against FTX co-founder Sam Bankman-Fried.
Salame's former co-workers Gary Wang, Caroline Ellison, and Nishad Singh have already admitted to being guilty of playing a role in the multi-billion dollar fraud claim in the now-bankrupt crypto empire and will be key witnesses in the government's lawsuit against Bankman-Fried.
*Not investment advice.