Former FTX executive Ryan Salame will plead guilty to criminal charges, an unnamed source told Bloomberg on Thursday.
Salame, was co-CEO of FTX Digital Markets and said to have handled political donations on behalf of the now-defunct crypto exchange’s executives. He himself made substantial donations to Republican candidates, according to public campaign contribution records.
The news comes as FTX founder Sam Bankman-Fried prepares for the start of his own criminal trial in October, having recently been denied a motion for his immediate release from prison. The Bahamas-based company collapsed in November 2022 and filed for bankruptcy.
This is a developing story and will be updated.
