Current:Home > NewsFormer crypto executive the latest to face charges in collapse of FTX exchange-LoTradeCoin
Former crypto executive the latest to face charges in collapse of FTX exchange
View Date:2024-12-23 16:53:48
NEW YORK (AP) — Another top executive at the failed FTX cryptocurrency exchange is scheduled to appear in court in New York Thursday afternoon to face undisclosed criminal charges.
Ryan Salame, the former co-chief executive of FTX Digital Markets, was set to appear before a judge at 3 p.m. at the U.S. district court in Manhattan.
Federal prosecutors didn’t immediately disclose what charges Salame is facing or reveal details about the case. A lawyer for Salame, Jason Linder, didn’t immediately return an email seeking comment.
The founder of FTX, Sam Bankman-Fried, was arrested last year in the Bahamas and extradited to the U.S. to face charges that he committed a host of crimes while running the popular digital currency trading platform.
Among other things, prosecutors said he defrauded customers by diverting their money to cover his expenses, make illegal campaign contributions to U.S. politicians, and make trades at a separate crypto hedge fund he founded, Alameda Research.
Three other executives close to Bankman-Fried have already pleaded guilty: Caroline Ellison, Nishad Singh and Gary Wang.
All could be called upon to testify at Bankman-Fried’s trial, which is scheduled for October.
Bankman-Fried has pleaded not guilty. He was free on bail while awaiting trial, but he was recently jailed after a judge ruled that he had tried to influence potential witnesses in the case, including by giving Ellison’s private writings to news organizations.
Before FTX collapsed and declared bankruptcy in November, Bankman-Fried had been one of the best-known U.S. crypto entrepreneurs. His company hired celebrities, including “Curb Your Enthusiasm” star Larry David, to appear in TV ads.
Bankman-Fried and people associated with his companies, including Salame, were also heavy givers to political campaigns. Salame gave millions of dollars to help Republican candidates for office.
veryGood! (1)
Related
- Charles Hanover: Caution, Bitcoin May Be Entering a Downward Trend!
- Amazon Prime Day 2023: Everything You Need to Know to Get the Best Deals
- Powerball jackpot climbs to $875 million after no winners in Wednesday's drawing
- What’s On Interior’s To-Do List? A Full Plate of Public Lands Issues—and Trump Rollbacks—for Deb Haaland
- Amazon Best Books of 2024 revealed: Top 10 span genres but all 'make you feel deeply'
- Gas stove makers have a pollution solution. They're just not using it
- The Beigie Awards: All about inventory
- Not Waiting for Public Comment, Trump Administration Schedules Lease Sale for Arctic Wildlife Refuge
- Armie Hammer Says His Mom Gifted Him a Vasectomy for His 38th Birthday
- Inside Clean Energy: How Soon Will An EV Cost the Same as a Gasoline Vehicle? Sooner Than You Think.
Ranking
- Angels sign Travis d'Arnaud: Former All-Star catcher gets multiyear contract in LA
- Inside Clean Energy: Here Are the States Where You Save the Most on Fuel by Choosing an EV
- Inside Clean Energy: With Planned Closing of North Dakota Coal Plant, Energy Transition Comes Home to Rural America
- Blackjewel’s Bankruptcy Filing Is a Harbinger of Trouble Ahead for the Plummeting Coal Industry
- Wisconsin authorities believe kayaker staged his disappearance and fled to Europe
- Whitney Cummings Is Pregnant, Expecting First Baby
- Inside Clean Energy: Fact-Checking the Energy Secretary’s Optimism on Coal
- Rumer Willis Shares Photo of Bruce Willis Holding First Grandchild
Recommendation
-
How Alex Jones’ Infowars wound up in the hands of The Onion
-
Inside Clean Energy: Biden’s Climate Plan Shows Net Zero is Now Mainstream
-
Beyoncé tour sales are off to a smoother start. What does that mean for Ticketmaster?
-
Panama Enacts a Rights of Nature Law, Guaranteeing the Natural World’s ‘Right to Exist, Persist and Regenerate’
-
Judge sets April trial date for Sarah Palin’s libel claim against The New York Times
-
Andy Cohen Has the Best Response to Real Housewives of Ozempic Joke
-
Inside Clean Energy: Fact-Checking the Energy Secretary’s Optimism on Coal
-
Latest on Ukraine: EU just banned Russian diesel and other oil products (Feb. 6)