Is going to prison the same as starting a new job? This FTX exec thinks so | World news

Former FTX Digital Markets co-founder Ryan Salame made headlines this week when he posted a job update to his LinkedIn profile before reporting to prison to serve a seven-and-a-half-year prison sentence. Salame, 31, was convicted for his role in Sam Bankman-Fried’s multi-billion dollar cryptocurrency fraud and his involvement in making illegal donations to political campaigns. He is one of four FTX executives who pleaded guilty after the company filed for bankruptcy in 2022.

On Wednesday, two days before he was due to report to the federal correctional facility in Cumberland, Maryland, Salame shared an unconventional life update on LinkedIn: “I’m excited to share that I am starting a new position as an inmate at FCI Cumberland.”

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In typical LinkedIn fashion, many users commented on Salame’s post and congratulated him on his “position.”

“Well deserved Ryan,” one user wrote, while another joked: “Bro went from LinkedIn to LockedIn.”

Another user said: “I don’t think your next interviewer will need to ask you to explain any gaps in your CV.”

Federal Prison Consultancy, a private US company, commented: “Ryan Salame, you’ll be back soon; use this time to do things you never made time for.”

Salame has been active on social media since his conviction on May 28, sometimes sharing multiple updates every day.

After the LinkedIn response, Salame posted on his X account: “Today I learned that people are still using LinkedIn.”

Ryan Salame, FTX scandal and conviction

Ryan Salame, a director of the cryptocurrency exchange FTX, was involved in a scandal involving illegal political donations. As co-chief executive officer of FTX’s Bahamian affiliate, he pleaded guilty to charges of making tens of millions of dollars in illegal political contributions. These contributions were made without proper authorization using FTX client funds, directed at political campaigns aligned with his and FTX’s interests. His actions were part of broader allegations of fraud and mismanagement that ultimately contributed to FTX’s collapse. Salame was convicted as part of the legal proceedings surrounding the FTX case, which also involved founder Sam Bankman-Fried and other executives.

Salame’s plea deal has come under scrutiny after he claimed as much in an interview with Bloombergthat prosecutors had broken a promise to drop their investigation of his wife, crypto lobbyist Michelle Bond, in exchange for his guilty plea. The U.S. Attorney’s Office in Manhattan has rejected these claims, calling his withdrawal “shameless.” Salame, who donated $22.6 million to Republicans during his time at FTX, is now hoping for a presidential pardon. However, he has acknowledged that obtaining a pardon could be a challenge if Vice President Kamala Harris were to win the election.

First publication: October 11, 2024 | 9:52 am IST