FTX Co-CEO Ryan Salame Begins 7.5-Year Sentence in Maryland Prison

On October 13, COINOTAG reported that former FTX executive Ryan Salame has commenced a prison sentence of seven and a half years at FCI Cumberland, a medium-security federal correctional institution located in Maryland, USA. As per the information available on the Federal Bureau of Prisons website, Salame, previously the co-CEO of FTX Digital Markets, was officially incarcerated as of Saturday morning. FCI Cumberland houses over 1,000 inmates, including those in its minimum-security satellite camp. Notably, Salame recently shared a post on LinkedIn that garnered attention, humorously mentioning his new “position” at the facility: “Prisoner.” This statement reflects a significant turn in the narrative of a man who once was at the helm of a leading cryptocurrency exchange. The implications for public trust in the crypto industry following this development are substantial, warranting close attention from investors and regulators alike.