Co-Founder FTX Ryan Salame Blew the Whistle

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Ryan Salame - Co-Founder FTX Ryan Salame Blew the WhistleA court filing Wednesday says cryptocurrency executive, Ryan Salame, blew the whistle on disgraced FTX founder Sam Bankman-Fried.

  • Salame, who was co-CEO of FTX Digital Markets, an affiliated company, informed Bahamian securities regulators in the days before FTX collapsed that Bankman-Fried may have funneled customers’ investments to his hedge fund, Alameda Research, setting the stage for the 30-year-old’s downfall.
    • The London-based Financial Times first reported the news Wednesday evening about Salame, citing court documents.
    • The filing is the first indication to emerge during the bankruptcy process, and in the wake of Bankman-Fried’s arrest, of the role that Salame was playing within the company.  It appears to be that of a whistleblower seeking to alert authorities to perceived wrongdoing.
    • On Nov. 9, the Financial Times reported, Salame alerted the executive director of the Securities Commission of the Bahamas of the transfers to Alameda.

See:  SBF Arrested in Bahamas

  • “Mr. Salame further advised the Commission that there were only three (3) persons who had the necessary codes (or passwords) to transfer clients’ assets to Alameda in this manner,” she wrote. She said that included Bankman-Fried and two others. The list did not include Salame himself, according to Rolle’s email.
    • The other two FTX executive named have not been charged with crimes.

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