An executive from the bankrupt cryptocurrency exchange FTX is under investigation for allegedly making illegal donations to his girlfriend’s political campaign, according to a report by the Wall Street Journal.
Federal prosecutors in Manhattan are examining a series of donations by former FTX executive Ryan Salame to his then-girlfriend Michelle Bond during her bid to win the Republican nomination for a congressional district on Long Island. Specifically, they are looking at money transferred from Salame to Bond, as well as loans the candidate made to her own campaign.
Bond, whose run was supported by prominent conservatives, received just over $56,000 in donations from Salame and other FTX employees, according to Federal Election Commission records.
FTX Execs Maxed Out Donations to Rep. George Santos
Multiple top ex-employees of collapsed crypto exchange FTX maxed out donations to alleged scammer George Santos (R-NY) during his successful 2022 campaign for Congress, FEC filings have revealed. Ryan Salame, FTX’s co-CEO, Claire Watanabe, a former FTX senior executive, and Ramnik Arora, the company’s ex-head of product, all donated the maximum possible amount to Santos’ campaign permitted under federal law during the summer of 2022. SFGATE first reported the news. The donations to Santos don’t...
In total, Bond received over $659,000 in contributions for her campaign in 2022.
A representative for Salame did not return a request for comment from Decrypt.
Salame has floated in the crosshairs of federal investigators since the collapse of FTX last year, and the arrest of its disgraced CEO Sam Bankman-Fried on charges for illegal political contributions.
Formerly the head of FTX Bahamas, Salame is known as a prolific political donor who has given heavily to Republican candidates, including Bond’s fellow Long Island Republican, Rep. George Santos.
Two days before FTX collapsed, Salame reportedly flagged questionable transactions to authorities in the Bahamas, triggering an investigation into funds transferred to Alameda Research.
FBI Searches Home of Former FTX Exec and Sam Bankman-Fried Ally
On Thursday, the Federal Bureau of Investigation (FBI) searched the Washington D.C. home of Ryan Salame, a former executive of the now-bankrupt cryptocurrency exchange FTX, according to a report from The New York Times. Salame, who formerly co-led FTX's Bahamas operation, is under investigation as part of the ongoing probe into the collapse of the cryptocurrency exchange. Authorities are looking into $24 million in political donations that Salame made during last year's midterm elections, and al...
In April, FBI agents raided a Washington D.C. home belonging to Salame as part of an investigation into Bankman-Fried's political operation. Federal authorities are looking into an estimated $24 million in donations made by Salame during the 2022 midterm elections, funds that they allege was taken from FTX's customer funds.
For her part, Bond ran on a campaign that included pro-cryptocurrency positions, although they did not appear to figure prominently in her campaign. She previously served as president of the Association for Digital Asset Markets (ADAM), a lobbying group that advocates for pro-crypto policies in Washington D.C.
A spokesman for ADAM told Decrypt in a statement that it and Bond "voluntarily separated" in late 2022, and that they have "no affiliation with one another at this time."
Editor's Note: This story has been updated to include a statement from ADAM.
