Sam Trabucco, the co-CEO of Alameda Research, has come out in support of FTX executive Ryan Salame ahead of his sentencing on May 28. In a court filing, Trabucco described Salame as an “affable” and “complex” person who should not be defined by his worst actions. Trabucco acknowledged that Salame has committed crimes but emphasized that he is prepared to accept the consequences. He expressed hope that Salame would receive a fair sentence and referred to him as a sought-after employee in the crypto space.
Ryan Salame, a former FTX Digital Markets co-CEO, recently submitted a sentencing memo in which he claimed to have been unaware of the illegal conduct at FTX. He also revealed that he has struggled with substance abuse since the age of 15 but is now sober, raising a child with his partner Michelle Bond, and has plans to attend law school. Salame expressed a desire to start a political nonprofit and requested a sentencing length of eighteen months in prison. He pled guilty to conspiracy to operate an unlicensed money transmitting license and conspiracy to make unlawful political contributions in September 2023.
Salame has distanced himself from the $8 billion fraud scheme at FTX, with his lawyers arguing that he had limited knowledge of the crimes. He was not part of founder Sam Bankman-Fried’s innermost circle and suffered significant financial losses when the scheme was uncovered. Salame is facing prison time for his involvement in unlawful political contributions, which prosecutors allege were made as part of a straw donor scheme orchestrated by Bankman-Fried to influence pro-crypto politicians. Bankman-Fried is currently serving 25 years in prison for his role in the fraud scheme.
The sentencing memo submitted by Salame’s team highlights his efforts to turn his life around, including overcoming substance abuse and pursuing a career in law. The memo also mentions his plans to start a political nonprofit, indicating a desire to contribute positively to society. However, prosecutors have portrayed Bankman-Fried as a deceitful figure who used investors’ funds to fund personal ventures, leaving a trail of destruction in his wake. Salame’s sentencing is scheduled for May 28 at Manhattan federal court, where he faces a maximum sentence of 10 years in prison.
Despite the challenges he has faced, Ryan Salame has received support from his friend and colleague Sam Trabucco, who has vouched for his character and expressed hope for a fair sentencing. Salame’s acknowledgment of his crimes and efforts to make amends, including plans for a future in law and a desire to start a political nonprofit, suggest a commitment to personal growth and positive contributions to society. The legal proceedings surrounding the FTX fraud scheme and political contributions scandal continue to unfold, with Salame preparing to face potential prison time for his involvement. The outcome of his sentencing on May 28 will determine the next chapter in his story.
