Previously prominent FTX executive Ryan Salame has revised his LinkedIn profile details, now identifying as an incarcerated individual.
"Well, ex-FTX exec Ryan Salame gave his profile a unique twist on LinkedIn the other day, as he commenced his imprisonment following FTX's downfall.
He penned down, "Pumped to announce my new gig as Inmate at FCI Cumberland!", pairing it with a LinkedIn graphic of a cherry leaving a cupcake and individuals leaping about.
Salame's post caught fire, prompting him to quip on LinkedIn, "Guess I'm still relevant here!"
Salame, once the co-CEO of FTX's Bahamian branch and a right-hand man to FTX founder Sam Bankman-Fried, was handed a 7.5-year conviction in May, which he'll commence at FCI Cumberland, a medium-security penitentiary based in Maryland.
Back in September the previous year, Salame confessed to funneling illegal campaign contributions totalling tens of millions to causes backed by his boss. He also agreed to forfeit $1.5 billion.
Alongside his prison sentence and the $1.5 billion forfeiture, Salame, 30, was also slapped with three years of supervised release and ordered to compensate further amounts of over $6 million in forfeiture and over $5 million in repayment.
As per prosecutors, Salame along with Bankman-Fried and ex-FTX engineering chief Nishad Singh, used FTX customer funds to support political candidates promoting crypto-friendly legislation.
Salame dropped over $24 million to Republican candidates and causes during the 2022 election cycle, as per Federal Election Commission data, making him one of that year's top financiers.
"Salame's participation in two major federal infractions damaged public trust in American elections and the financial system's integrity", Damian Williams, New York's United States Attorney, shared post-sentencing, according to Reuters.
Salame was convicted on one count of conspiring to break campaign financing laws and one count of conspiring to operate an unlicensed money transmitting business.
FTX crumbled in November 2022, causing a ripple across the crypto world, after users in a hurry to withdraw their cash flooded the platform. Bankman-Fried stepped down as CEO and the company filed for bankruptcy.
A year later, Bankman-Fried was found guilty on seven charges of fraud and conspiracy, including pilfering billions from FTX customers' accounts and defrauding Alameda Research's lenders. He was imprisoned for 25 years in March."
In his new role, Ryan Salame is currently serving a 7.5-year sentence at FCI Cumberland for his involvement in funneling illegal campaign contributions, which significantly impacted public trust in elections and the financial system's integrity. Despite being incarcerated, Salame's social media posts have shown that he maintains a level of relevance in the business world.
