Former FTX Executive Ryan Salame Writing Memoir About SBF’s Crypto Exchange
Former FTX Digital Markets CEO Ryan Salame is writing a memoir about his experiences working for SBF’s now-collapsed crypto exchange, a Monday X post by the once FTX executive reveals.
Former FTX Exec Ryan Salame Writing Memoir About FTX, Alameda Research
According to the post, Salame has “dedicated a significant amount” of time to chronicling his experiences running FTX’s Bahamian subsidiary as well as his early experiences working for its sister company, Alameda Research.
“I’ll be keeping $0 of the proceeds once it hits print,” Salame continued. “Waiting on publishers at this point but hope to get it done and out ASAP.”
During the past year I dedicated a significant amount of my time to writing a complete memoir of my time at ftx and alameda. I'll be keeping 0$ of the proceeds once it hits print. Waiting on publishers at this point but hope to get it done and out asap.
— Ryan Salame (@rsalame7926) June 3, 2024
New of Salame’s potential book deal comes just one week after he was sentenced to over 7 and a half years in prison and ordered to pay a penalty of $11 million for criminal charges stemming from his time at the crypto exchange.
Salame, who refused to cooperate with U.S. prosecutors, initially pleaded guilty to operating an illegal money-transmitting business and making unlawful political contributions related to the crypto exchange in October 2023.
The former FTX executive was the first to be sentenced for his crimes outside of Sam Bankman-Fried himself, who was sentenced to 25 years in prison and $11 billion this past March.
Several FTX Creditors Unhappy With Current Estate Repayment Plan
Meanwhile, the FTX estate recently announced a repayment plan they claim will see 98% of creditors receive 118% back on their claims, though not every victim of the $8 billion crypto scam is happy with the results.
A fraction of FTX creditors are upset over the estate’s valuation of certain claims, particularly in light of the rebounding crypto market.
According to activist and FTX creditor Sunil Kuvari, a number of FTX victims are taking part in class action litigation against law firms Sullivan and Cromwell and Fenwick and West for allegedly aiding and abetting the massive digital asset fraud.
Kuvari has reported that Sam Bankman-Fried (SBF) has agreed to join the FTX creditors suit.
“Sucks that if I had just sold off my pile of crypto like I was going to instead of listening to multiple lawyers and borrowing from Alameda against it instead, I likely wouldn’t be going to prison for seven and half years,” Salame, who has been vocal on social media since the sentencing, said in a recent X post.
Kuvari replied in a May 29 X post, claiming he would “be happy to chat” with Salame about potentially joining the lawsuit.
