Almost three years after the collapse of FTX, the shadow of the scandal still hovers. Ryan Salame, former co-directive of the platform, purges a heavy sentence, but his advocacy agreement remains at the center of a legal battle involving his wife, Michelle Bond. Justice still seeks to disentangle the ramifications of an explosive file.
In short
- Ryan Salame is serving a sentence of 7 and a half years for his role in the collapse of FTX.
- His advocacy agreement linked to political funding remains disputed by the defense of his wife Michelle Bond.
- Bond demands the right to testify despite the opposition of the federal prosecutor's office.
A plea agreement that returns to haunt the file
Ryan Salame, former FTX Digital Markets CO-PDG, in 2024 admitted to having used FTX-related funds to illegally finance political campaigns. Sentenced to more than seven years in prison, he seemed to have turned a page in the case.
However, his advocacy agreement rebuilds today in the procedure aimed at his wife, Michelle Bond.
Political candidate and influential personality in the financial sector, Bond faces accusations of conspiracy and illegal electoral financing. Her lawyers ask the court to listen to her testimony, stressing that the state of mind of Ms. Bond and her husband at the time of the agreement remains a key element of the file.
Clearly, understanding the motivations of Salame when pleading guilty could play a central role in his defense.
But last Friday, prosecutors rejected this request, judging this testimony without direct link with the case. For the accusation, Bond cannot instrumentalize the agreement concluded by her husband to lighten her own charges.
This new judicial confrontation illustrates once again the complexity of legal ramifications left by the fall of FTX.
Ftx, an endless saga for justice and markets
The Salame-Bond affair is not played in a vacuum. It is part of a context where FTX creditors are still waiting for reparation after the collapse of the platform.
The FTX Recovery Trust has also confirmed the release of an additional $ 1.6 billion on September 30, the third reimbursement wave since February. A total of 7.8 billion have already been returned.
This massive movement of capital arouses as much hope as concern. For some creditors, it is finally an opportunity to recover their funds, sometimes even beyond 100 % for small receivables.
But, for the Crypto market as a whole, the sudden injection of liquidity raises questions: will these amounts be reinvested, withdrawn, or will they trigger new turbulence on already fragile markets?
This contrast between spectacular reimbursements and extension criminal procedures reveals the double fracture left by FTX. On the one hand, the economic aspect, marked by the partial restitution of losses; On the other, the judicial aspect, punctuated by the trials, plea agreements and endless quarrels. Each new judicial episode recalls the extent of the scandal and prevents the industry from turning the page permanently.
The Salame-Bond file perfectly embodies this paradox: while reimbursements offer a breath of fresh air to creditors, the judicial case maintains a persistent shadow on the ecosystem. To regain investors' confidence, the crypto will not only have to settle FTX debts, but also learn from a historic bankruptcy which continues to poison its reputation.
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