Bitcoin News and Finance Former FTX Co-CEO Ryan Salame to Plead the Fifth, Declares Himself ‘Unavailable as a Witness’ Skip to main content

Former FTX Co-CEO Ryan Salame to Plead the Fifth, Declares Himself ‘Unavailable as a Witness’

Former FTX Co-CEO Ryan Salame to Plead the Fifth, Declares Himself 'Unavailable as a Witness

U.S. federal prosecutors have unveiled court documents indicating that ex-FTX CEO Sam Bankman-Fried (SBF) is entangled in a web of allegations, with illegal political campaign financing being a significant charge. In light of these allegations against SBF, Ryan Salame, FTX Digital Markets’ former co-CEO, has expressed his intent to plead the Fifth if summoned, thus becoming “unavailable as a witness.”

Former FTX Co-CEO Ryan Salame to Plead the Fifth

Merely a week prior, insiders hinted at Ryan Salame, ex-co-CEO of FTX Digital Markets, navigating a plea agreement. These sources claimed that part of the deal might involve Salame parting with his private jet. Yet, with the re-arrest of SBF and new campaign financing allegations surfacing, Salame’s potential contribution to the case seems limited.

The authorities have pushed for the inclusion of specific evidence during the trial, while sidelining other bits presented by SBF’s defense. The evidence in question encompasses SBF’s supposed bank deception, unlawful campaign contributions, international bribery, crypto price manipulation, and the implementation of auto-delete protocols within his firms.

Furthermore, the prosecution is attempting to remove certain defense-related evidence and arguments, deeming them either irrelevant or unjustly biased. These include claims about the victims’ lack of due diligence, the negative impact of the bankruptcy process on clients, the rapidity of the charges indicating ulterior motives, the idea that virtuous deeds signify innocence, and details about potential penalties. The government’s stance is that such evidence might muddle the issues, misguide the jury, lead to unnecessary delays, or provoke jury nullification.

In a pivotal move, the authorities aim to present alleged remarks by the former FTX co-CEO Ryan Salame, now an “unavailable witness,” about his supposed pact with SBF to illicitly fund political endeavors. Salame’s legal counsel has indicated that Salame would assert his Fifth Amendment right against self-incrimination if asked to testify. However, the prosecution posits that Salame’s remarks on being a conduit for donations remain valid under the exception to the hearsay rule in Rule 804(b)(3), given they are statements against his interests.

Prosecutors emphasize the credibility of Salame’s alleged comments, pointing to the trail of corporate funds channeled through his accounts for political contributions. Despite his absence, the government maintains that these purported remarks can be treated as statements against Salame’s legal interests. Reports have recurrently suggested that Salame funneled a whopping $24 million to GOP candidates before FTX’s unraveling.

What do you think about Salame being unavailable to testify in the case against SBF? Share your thoughts and opinions about this subject in the comments section below.

Comments

Popular posts from this blog

Custodial Lightning Network Service Attack Discovered by LN ‘Newbie’ — Hacker Strikes 6 LN Custodians

On September 18, a Redditor posted to the r/bitcoin forum and explained how he discovered a way to “attack [the] lightning Network’s custodial services.” The Reddit account dubbed “Reckless Satoshi” wanted to figure out if a “discrepancy between real routing fees and service’s transaction fee can be exploited for a profit.” The researcher disclosed that he wanted to see how large the damage could be and said “it is bad.” 6 Lightning Network Custodial Services Attacked, Researcher Discloses Findings to Offenders Prior to Public Disclosure A Redditor called Reckless Satoshi published a disclosure post on r/bitcoin this past Saturday and disclosed how he had found a vulnerability with routing fees and some of the Lightning Network’s custodial services. The research attack was done in good faith and after it was complete he disclosed the bugs to the offending services before publishing his findings. Reckless Satoshi used the Lightning Network (LN) attack on six different services incl...

Axie Infinity Down 40% Since Last Week’s Price High, Protocol Revenue Outshines Competitors

Last week, the game token leveraged within the Axie Infinity gaming universe skyrocketed to all-time highs, while other crypto markets remained extremely lackluster. During the last seven days, Axie Infinity’s platform token has dropped significantly in value shedding more than 12%. Meanwhile, the game platform’s smooth love potion token has slid over 8% over the last 24 hours. Axie Infinity Down More Than 40% Since All-Time High Not too long ago, the axie infinity (AXS) token was a topical conversation because it reached an all-time high on July 15. At the time, AXS managed to capture $28.93 per unit and since then it has shed 12.8% during the last seven days. The axie infinity (AXS) token is used within the blockchain-based game that involves battles between token-based creatures called “Axies.” AXS is used for the game’s governance system as well as other actions within the game. At the time of writing axie infinity (AXS) is exchanging hands for $16.70 per coin. AXS/USD on Ju...

Play-to-Earn Game From Polker (PKR) Exchange Listing – Endorsed by Akon

The Play-to-Earn NFT based Polker.Game ‘s native token $PKR has been officially listed on the popular centralized exchange BitMart. Polker.game has been in the spotlight recently as Akon, the American R&B superstar and record producer gave his official endorsement of polker stating that the “game is revolutionary” and that Polker is “hands down.. the best play to earn, NFT game in the space.”. With the BitMart listing and celebrity endorsement from Akon, Polker is perfectly positioned to become a major player in the Play-to-Earn league. Watch Akon’s Video Here What is Play-to-Earn? Although not a new concept, play-to-earn has become a trending term due to the popularity of the NFT game AXIE infinity. In the past, previous play-to-earn games have also achieved success – however, thanks to the huge amount of development in the blockchain space in recent years the gaming experience is now massively improved. Play-to-Earn games are essentially free to play and open to anyone and...

China to Crack Down on Copyright Infringement Through NFTs

Authorities in China are going after creators of digital collectibles based on other people’s works of art, the use of which was not authorized. The government offensive is part of a campaign to combat online copyright infringement and piracy with the participation of several departments. Regulators in China Move to Strengthen Copyright Supervision of Online Platforms The National Copyright Administration of China (NCAC) has recently launched a campaign against copyright infringement and piracy on the internet, together with the Ministry of Industry and Information Technology, the Ministry of Public Security, and the State Internet Information Office of the People’s Republic. A major objective of the initiative is to improve copyright supervision of online businesses by investigating cases involving the sale and distribution of infringing products on short video, live broadcast and e-commerce platforms, and promptly dealing with infringing content, the agency announced in a press r...
Blogarama - Blog Directory