Former FTX Exec Ryan Salame Lists New Role as ‘Inmate’ on LinkedIn Before Starting Prison Sentence

Crypto Reporter

Shalini Nagarajan

Crypto Reporter

Shalini Nagarajan

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Shalini is a crypto reporter who provides in-depth reports on daily developments and regulatory shifts in the cryptocurrency sector.

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Last updated: 

October 10, 2024

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Ryan Salame, who previously held the position of co-chief executive at FTX Digital Markets, on Thursday took to LinkedIn to announce his start in a new role as an inmate.

The former executive, set to be confined within the Federal Correctional Institution at Cumberland, updated his profile to include new skills such as “cleaning and whittling.”

His LinkedIn update garnered some witty remarks, with responses like “from blockchains to being in chains,” and “they’re lucky to have you.”

Image Source: Ryan Salame/ LinkedIn

Ryan Salame Seeks December Prison Surrender Amid Ongoing Medical Treatment

This week, Salame asked to delay his prison surrender, originally set for Oct. 11. His legal team cited ongoing medical treatment for injuries from June 2024, requesting a new date of Dec. 7.

It follows a recent warning from a federal judge about possible sanctions for false statements during his guilty plea. Salame initially denied deals with prosecutors. However, he later admitted they had agreed to drop a criminal investigation into his partner, Michelle Bond, in exchange for his cooperation.

If Salame’s request for a delay is denied, he will begin his 7.5-year prison sentence at a federal correctional facility this Friday.

Court Imposed $11M Restitution and 7.5-Year Sentence on FTX’s Salame

In May 2024, a court sentenced Salame to 90 months in prison, or seven and a half years. This outcome surprised many, as prosecutors had recommended a sentence between 5-7 years. Meanwhile, Salame’s defense sought just 18 months.

Along with the prison term, the court imposed three years of supervised release. Salame was also ordered to pay over $11m in forfeiture and restitution for his role in FTX’s fraudulent activities.

In the US, prison inmates are generally denied internet access due to safety and regulatory concerns. However, Salame faced an unusual incident this past summer when he suffered a dog bite. Court documents show that resulted in a facial injury.

His original prison reporting date of Aug. 29 was delayed to this month. This was to allow for the “urgent and necessary medical treatment and surgery” required after the attack.

Meanwhile, Sam Bankman-Fried is currently serving a 25-year sentence at New York’s Metropolitan Detention Center for his role in the FTX fraud. He is reportedly housed in the same unit as Sean “Diddy” Combs.