Former Bankman-Fried lieutenant Salame pleads guilty to illegal campaign contributions

Prosecutors said Salame told a confidante that Bankman-Fried hoped political donations would "weed out" anti-crypto Democratic and Republican lawmakers

NEW YORK, NEW YORK - SEPTEMBER 07: Former FTX CEO Ryan Salame leaves a Manhattan court after pleading guilty to criminal charges on September 07, 2023 in New York City. The plea comes weeks before Sam Bankman-Fried, co-founder of the cryptocurrency exchange, is set to go on trial. (Photo by Spencer Platt/Getty Images)

Ryan Salame, the former co-CEO of FTX's Bahamian subsidiary and a top lieutenant to the bankrupt cryptocurrency exchange's founder, Sam Bankman-Fried, pleaded guilty on Thursday to making tens of millions of dollars in unlawful campaign donations to boost causes supported by his boss.

In court filings on Thursday, prosecutors said Salame, Bankman-Fried and former FTX engineering chief Nishad Singh used FTX customer funds to donate to political candidates supporting crypto-friendly legislation.