Ryan Salame, the former co-CEO of FTX Digital Markets, has started his seven-and-a-half-year prison sentence at FCI Cumberland in Maryland.
The medium-security federal correctional institution houses over 1,000 inmates, according to records from the Federal Bureau of Prisons.
Salame pleaded guilty in September to conspiring to make unlawful political contributions and conspiracy to operate an unlicensed money-transmitting business. His charges are tied to his work with FTX, where he was closely connected to former CEO Sam Bankman-Fried. Bankman-Fried was sentenced to nearly 25 years in prison following his fraud trial, while Caroline Ellison, the former CEO of Alameda, received a two-year sentence for her role in the collapse of FTX.
Salame’s lawyers attempted to delay his prison start date to December 7, citing the need for further medical care after a dog bite injury he sustained over the summer. This request followed an earlier postponement from August to October, which the court had granted for surgery. However, U.S. District Judge Lewis Kaplan denied the latest request, citing that Salame appeared to have “substantially recovered,” referencing a recent interview Salame gave with conservative commentator Tucker Carlson.
In the interview, Salame criticized the court proceedings, stating that Judge Kaplan had made inaccurate claims about his actions before FTX filed for bankruptcy. During the sentencing, Judge Kaplan remarked that Salame had prioritized himself over FTX customers, saying, “I’m getting in the lifeboat first. To heck with all those customers.”
Salame shared a humorous LinkedIn post after entering prison, writing, “I’m happy to share that I’m starting a new position as Inmate at FCI Cumberland.”
His partner, Michelle Bond, faces her own legal troubles. She was charged in August for allegedly conspiring in an unlawful campaign finance scheme during her unsuccessful bid for a U.S. House seat in 2022. Bond reportedly used funds from a “sham consulting agreement” between Salame and a Bahamas-based subsidiary of FTX to finance her campaign. Salame has been vocal in defending Bond, accusing prosecutors of leveraging plea negotiations to “threaten” her, and he has requested the court dismiss her charges or overturn his own conviction.
Despite the legal challenges, Salame has shared plans to teach a course about digital assets and the economy while serving his sentence.
