The U.S. Federal Bureau of Investigation searched the home of former FTX executive Ryan Salame earlier today, according to the New York Times.
The raid took place at about 7 a.m. ET in Potomac, Md., per the Times, citing people with knowledge of the events. The Times said the exact nature of the search is unknown.
Salame was once co-CEO of FTX Digital Markets, the exchange giant's Bahamas operation, a position he held until December 2022. Prior to that, he worked for FTX's sister-company Alameda Research.
The raid comes amid a long-running federal investigation into the collapse of FTX, which fell apart last November in dramatic fashion. Former FTX CEO Sam Bankman-Fried has been indicted by U.S. prosecutors and a group of FTX insiders have all struck cooperation deals as the process moves toward a formal trial.
This is a developing story.
Disclaimer: The former CEO and majority shareholder of The Block has disclosed a series of loans from former FTX and Alameda founder Sam Bankman-Fried.
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