Former FTX executive Ryan Salame will report to prison on October 11 to serve 7 and a half years in prison

Former FTX Digital Markets co-CEO Ryan Salame will report to a federal correctional institution on October 11 to serve a seven-and-a-half-year sentence. Since his May 28 sentencing hearing, Salame has hinted on social media that prison will be an "exciting" experience and claimed that he would treat his time in prison like summer camp. Attorneys seek to have Salame serve his sentence at the U.S. Correctional Institution in Cumberland, Maryland, a medium-security facility near Salame's home. Other notable former federal prison inmates include Jack Abramoff, the Washington insider behind one of the nation's largest lobbying scandals who was released in 2010 after serving three and a half years for fraud, tax evasion and conspiracy to bribe public officials. Salame, one of the executives implicated in criminal charges following FTX's collapse, pleaded guilty in September 2023 to conspiracy to make illegal political contributions and defraud the Federal Election Commission. Salame will be the second FTX executive to face prison time after SBF was sentenced to 25 years in prison in March. In September, a judge sentenced Caroline Ellison, the former CEO of Alameda Research, to two years in prison. Other executives named in the same indictment, Nishad Singh and Gary Wang, will be sentenced on October 30 and November 20, respectively. (Cointelegraph)