Former FTX exec probed over possible campaign finance violations: WSJ

Quick Take

  • Ryan Salame, a senior executive at bankrupt crypto exchange FTX, is being investigated by federal prosecutors in Manhattan over potential violations of campaign finance law, according to a report by the WSJ. 
  • Salame financially supported his partner Michelle Bond in her 2022 congressional race in Long Island. 

Federal prosecutors are investigating former FTX executive Ryan Salame's involvement in Michelle Bond's 2022 congressional race, according to a report by the Wall Street Journal. 

As per the report, Manhattan prosecutors are investigating Salame for possible violations of campaign-finance laws tied to his support of girlfriend Bond, who ran in the Republican primary for New York's first congressional district. The investigation, which dates back to at least April, is examining the funds Salame gave to Bond as well as the loans that funded her campaign, a source told The Journal. 

Bond, who ran on a conservative platform, raised over $660,000 in contributions including $54,000 from Salame. She was endorsed by Donald Trump Jr. and Texas Senator Ted Cruz. 

The investigation into the financial relationship between Salame and Bond is separate from the ongoing case against FTX cofounder Sam Bankman-Fried, who is charged with improperly spending customer deposits. Salame is not charged in that case. 

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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