Reduced Prison Sentence for Ex-FTX Executive, Ryan Salame
Headline: Ryan Salame's Prison Sentence for FTX-Related Charges Reduced by One Year
In a recent development, the prison sentence of Ryan Salame, the former head of the Bahamian division of cryptocurrency exchange FTX, has been reduced by one year. This reduction was announced on the Federal Bureau of Prisons website.
Originally sentenced to 90 months (7.5 years) in prison in September 2023, Salame’s reduced sentence reflects his cooperation with the prosecution, alongside other defendants like Caroline Ellison who also received reduced sentences for cooperating.
Salame had pleaded guilty to criminal charges related to the collapse of FTX in September 2023. The specific reasons for the reduction in his prison sentence were not detailed in the provided information.
The prison sentence reduction for Salame was announced after he had already begun serving his prison term. The Bureau of Prisons has updated his release date to March 2031, though specific new release dates have not been publicly detailed in the available information. Further judicial evaluations are ongoing to finalize his schedule.
Meanwhile, in late May, the Southern District of New York court sentenced the former CEO of FTX Digital Markets to 90 months (7.5 years) in prison. Sam Bankman-Fried (SBF), co-founder and former CEO of FTX, was found guilty on all counts in November 2023 and was sentenced to 25 years in prison in March 2024. SBF's legal team has appealed the decision.
Other defendants involved in the case include Caroline Ellison, the former CEO of Alameda Research, FTX's CTO Gary Wang, and the exchange's head of engineering Nishad Singh, who also pleaded guilty to related charges.
It is important to note that no more granular or updated prison release dates have been disclosed as of August 2025. The former CEO of FTX Digital Markets began serving his sentence in October, and his reduced sentence means he will now be released a year earlier than originally scheduled. The original sentence had him scheduled for release in April 2032.
Salame's prison sentence reduction was made under Rule 35, which allows for sentence reconsideration based on cooperation or other factors. This rule is often used in cases where defendants provide substantial assistance to the prosecution.
This reduction in Salame's sentence comes as a significant turn of events in the ongoing FTX case, and it will be interesting to see how this affects the broader cryptocurrency industry. As more details emerge, we will keep you updated.
- Despite the ongoing legal proceedings in the FTX case, the prison sentence for Ryan Salame, formerly the head of the Bahamian division of FTX, was recently reduced by one year under Rule 35, which usually applies when defendants provide substantial assistance to the prosecution.
- In the broad context of finance, business, and general-news, the reduction in Salame's prison sentence could potentially have implications for the cryptocurrency industry, given the prominence and impact of the ongoing FTX case.
