The post Former FTX Exec’s Viral Prison Post appeared on BitcoinEthereumNews.com.

TLDR Former FTX co-CEO Ryan Salame posted about starting as an “inmate” on LinkedIn Salame was sentenced to 7.5 years in prison for illegal political donations and operating an unlicensed money-transmitting business He forfeited $1.5 billion in assets but kept his Porsche 911 Turbo S Salame claimed he was “duped” by Sam Bankman-Fried but withdrew $5 million as FTX faltered His sentencing is part of the larger fallout from FTX’s collapse, including sentences for other executives Ryan Salame, once a high-ranking executive at the now-defunct cryptocurrency exchange FTX, is set to begin a 7.5-year prison sentence for his role in the company’s downfall. Salame, who previously served as co-CEO of FTX Digital Markets Ltd., made headlines with an unconventional LinkedIn post announcing his new “position” as an inmate at FCI Cumberland. The post, which quickly went viral, showcased Salame’s dark humor in the face of his legal troubles. LinkedIn users responded with a mix of ironic congratulations and jokes, with one commenter quipping, “Bro went from LinkedIn to LockedIn.” Salame later took to Twitter to comment on the unexpected attention, noting, “Today I learned people still use LinkedIn.” Today I learned people still use LinkedIn — Ryan Salame (@rsalame7926) October 11, 2024 Salame’s legal woes stem from the collapse of FTX in November 2022. The cryptocurrency exchange, once valued at $32 billion, imploded amid accusations of fraud and misuse of customer funds. Salame was charged with making illegal political donations and operating an unlicensed money-transmitting business. He pleaded guilty to these charges in a Manhattan courtroom. As part of his sentence, Salame has forfeited $1.5 billion in assets related to his crimes at FTX. However, he was allowed to keep his 2021 Porsche 911 Turbo S, which was deemed too low in value for government seizure. Salame is required to…

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Filed under: News - @ October 11, 2024 1:28 pm