FTX Exec Ryan Salame’s Prison Humor

Most people use LinkedIn to celebrate promotions or announce career moves. But on Thursday, Ryan Salame, former co-CEO of FTX, used the platform to reveal his next chapter: prison. Just days before starting his seven-and-a-half-year sentence. Salame posted, “I’m happy to share that I’m starting a new position as [an] inmate at FCI Cumberland.”

From LinkedIn to LockedIn

Salame’s post, dripping with dark humor, quickly went viral. Users flooded the comment section with sarcastic congratulations, with one remarking, “Bro went from LinkedIn to LockedIn.” Another user added, “Well deserved, Ryan.” While the humor was appreciated, Salame’s situation is no joke. His fall from grace comes as part of the fallout from the spectacular collapse of FTX, the crypto exchange once valued at $32 billion.

Salame’s legal troubles began after FTX’s November 2022 implosion, which revealed accusations of fraud and misuse of customer funds. The former executive was charged with making illegal political donations, funneling millions into both Republican and Democratic campaigns. He was also charged with running an unlicensed money-transmitting business.

A Luxury Car and a Long Sentence

Despite pleading guilty to the charges, Salame managed to hold on to one luxury: his 2021 Porsche 911 Turbo S. Although valued too low for government seizure, he will have to cover the $1,500 maintenance cost himself—a small consolation compared to the $1.5 billion in assets he forfeited in connection to FTX’s financial crimes.

Salame has consistently claimed he was duped by FTX founder Sam Bankman-Fried (SBF), believing the company was stable. However, prosecutors pointed to suspicious activity, including Salame’s withdrawal of over $5 million in crypto just before the exchange collapsed. These actions suggested he knew more than he let on, leading to his lengthy sentence.

FTX’s Far-Reaching Fallout

Salame is just one of several high-profile figures caught in the aftermath of FTX’s downfall. Caroline Ellison, former CEO of Alameda Research—FTX’s sister firm—was sentenced to two years in prison. Ellison’s testimony was pivotal in the case against Bankman-Fried, who was sentenced to 25 years for orchestrating one of the largest financial frauds in history, siphoning billions from customer accounts.

Unlike Ellison and Gary Wang, another FTX co-founder, Salame did not testify against SBF, a decision that likely contributed to his harsher sentence.

Salame’s Social Media Moment

After the viral response to his LinkedIn post, Salame took to Twitter (now X) to poke fun at the unexpected attention, tweeting: “Today I learned people still use LinkedIn.” His humor in the face of severe consequences has only made him a more memorable figure in the ongoing FTX saga, though it remains to be seen how this chapter will end for Salame and others entangled in the scandal.