Former FTX Digital Markets Co-CEO Set to Plead Guilty to Criminal Charges in Cryptocurrency Exchange Scandal
Summary:
Former FTX Digital Markets co-CEO Ryan Salame plans to plead guilty to criminal charges related to his involvement in illicit activities at the failed cryptocurrency exchange. This comes as several executives connected to FTX have already pleaded guilty, including former Alameda Research CEO Caroline Ellison, FTX co-founder Gary Wang, and former engineering director Nishad Singh. FTX's former CEO Sam Bankman-Fried, however, has pleaded not guilty to 12 criminal charges and faces upcoming trials.
Ryan Salame, the former co-CEO of FTX Digital Markets, intends to enter a guilty plea to criminal charges related to his alleged involvement in illicit activities at the failed cryptocurrency exchange. Sources familiar with the case have disclosed that Salame has plans to plead guilty to a range of charges during an upcoming court appearance. If he follows through with his guilty plea, Salame will join a growing list of executives linked to FTX who have done the same since the exchange's demise in November 2022. In December 2022, former Alameda Research CEO Caroline Ellison and FTX co-founder Gary Wang pleaded guilty to federal fraud charges, followed by former engineering director Nishad Singh, who also pleaded guilty to similar charges in February 2023. FTX Digital Markets served as FTX's affiliate in the Bahamas, where several executives, including former CEO Sam Bankman-Fried, were based prior to the company's bankruptcy. Bankman-Fried, however, has pleaded not guilty to 12 criminal charges and is set to face two trials, scheduled to commence on October 2, 2023, and March 11, 2024. As this story develops, we will continue to provide updates as more information becomes available.
Published At
9/7/2023 2:47:28 PM
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