There are plenty of legal ways to discreetly funnel millions of dollars into the American political process, but former FTX co-CEO Ryan Salame went another direction. On Thursday, he pleaded guilty to campaign finance violations and to operating an unlicensed money-transmitting business—marking the official downfall of man who traveled by private jet and Porsche.
He is the fourth former executive from the crypto exchange to plead guilty.
Salame, who will temporarily remain free on a $1 million bond, said he made $10 million in political donations with funds that were loaned to him by FTX, but which he did not expect to repay. He claimed he did so at the behest of FTX founder Sam Bankman-Fried, who is detained in Brooklyn in advance of a fraud trial slated for October.
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