Ryan Salame: Former FTX top executive updated his LinkedIn profile. His new role? prison inmate

CNN
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Updating LinkedIn with a new job posting is a rite of passage for many professionals, a chance to let the world know that you've climbed another rung on the career ladder.

But former FTX executive Ryan Salame made an unorthodox update to his profile on the site on Thursday as he began a prison sentence following the cryptocurrency exchange's collapse.

“I'm excited to announce that I'm starting a new job as an inmate at FCI Cumberland!” he wrote alongside a LinkedIn graphic of a cherry falling from a cupcake and people jumping in the air.

His post quickly went viral, prompting Salame to joke on X: “Today I learned that people still use LinkedIn.”

Salame, former co-CEO of FTX's Bahamian subsidiary and top lieutenant of company founder Sam Bankman-Fried, was sentenced in May to seven and a half years in prison, which he will now serve at FCI Cumberland, a mid-sized company. Federal Security Penitentiary in Maryland.

In September Last year, Salame pleaded guilty to making tens of millions of dollars worth of illegal campaign contributions to causes supported by his boss. He also agreed to withhold $1.5 billion.

In addition to the prison sentence and the forfeiture of $1.5 billion, Salame, 30, was sentenced to three years of supervised release and ordered to pay additional amounts of more than $6 million in forfeiture and more than $5 million US dollars as compensation.

Prosecutors said Salame, Bankman-Fried and former FTX chief engineer Nishad Singh used FTX customer funds to donate to political candidates who support crypto-friendly laws.

According to Federal Election Commission data, Salame donated more than $24 million to Republican candidates and causes in the 2022 election cycle, making him one of this year's largest donors.

“Salames’ involvement in two serious federal crimes undermined public confidence in American elections and the integrity of the financial system,” Damian Williams, U.S. Attorney for the Southern District of New York, said after the verdict, according to Reuters.

Salame pleaded guilty to one count of conspiracy to make unlawful political contributions and one count of conspiracy to operate an unlicensed money transfer business.

FTX imploded in November 2022, sending shockwaves across the crypto world after depositors rushed to withdraw their funds. Bankman-Fried resigned as CEO and the company filed for bankruptcy.

A year later, Bankman-Fried was found guilty of seven counts of fraud and conspiracy, including stealing billions of dollars from FTX customers' accounts and defrauding lenders at his sister company, hedge fund Alameda Research. He was sentenced to 25 years in prison in March.