Bankrupt Crypto Exchange Manager Sentenced to 7.5 Years in Prison - Coin Bulletin

Former executive of bankrupt cryptocurrency exchange FTX, Ryan Salame, has been sentenced to 90 months in prison.

The US Department of Justice also announced that Salame was given three years of probation. Salame will return 6 million dollars and pay more than 5 million dollars in compensation.

The Ministry said, "Ryan Salame supported the interests of FTX, Alameda, and their collaborators through an unlicensed money transfer business, which led to FTX growing even faster beyond legal limits."

Salame admitted in September that he ran an unlicensed money transfer business and made political donations. Salame was the co-CEO of FTX Digital Markets and worked with the founder of the cryptocurrency exchange, Sam Bankman-Fried.

FTX's former CEO Bankman-Fried was sentenced to 25 years in prison in March.

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