Former FTX Exec Refuses To Testify

August 15, 2023 12:16 pm Comments

As the FTX case continues to heat up, it appears as if high-level, former FTX executives are not planning on cooperating with prosecutors.

ProCoin News recently reported that Sam Bankman-Fried was denied bail and remanded to the custody of the state—he will remain in jail until the start of his trial.

Judge Lewis Kaplan cited witness intimidation and the lack of respect for court-ordered restrictions as the primary reasons for denying SBF bail. …

In other words, SBF has been less than cooperative with investigators and prosecutors. …

Now we are seeing reports that other former high-level FTX executives are also refusing to cooperate with the court.

According to court documents, Ryan Salame, FTX’s former co-CEO, will likely refuse to testify and will invoke his 5th Amendment right against self-incrimination.

Molly White presented the court documentation which confirmed that Ryan Salame will not be testifying if called to the stand.

Previously, Bloomberg reported: “Ryan Salame, the former co-chief executive of FTX Digital Markets, is in negotiations with federal prosecutors to plead guilty to criminal charges following the implosion of the cryptocurrency exchange.”


Coin Edition provided this background information:

Salame allegedly donated more than $24 million, violating federal campaign finance laws, to Republican campaigns, according to Bloomberg, and acted as a “straw donor” for Sam Bankman-Fried (SBF).

Federal prosecutors reportedly wanted to use, as evidence, messages Salame sent about an alleged agreement with Sam Bankman-Fried to donate on his behalf.

A mere week later, Bloomberg confirmed: “Former FTX executive Ryan Salame will not testify under oath about his role in an alleged illegal campaign donation scheme at the cryptocurrency empire, according to prosecutors.”


Inner City Press pondered why Salame has not yet been formally indicted: “I’ve been asking that. Also why Ryan Salame is described in last night’s US v SBF motion in limine as invoking the 5th to not testify – but also not indicted…”



CoinDesk previously reported:

Former co-CEO of FTX Digital Markets Ryan Salame is in talks with federal prosecutors to plead guilty to criminal charges related to the collapse of the crypto exchange, according to a Bloomberg report, citing people familiar with the case.

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