Former FTX Executive Invokes Fifth Amendment Right, Remains Silent in Trial – Here's the Latest
Ryan Salame, a former executive of now-defunct cryptocurrency exchange FTX, has declined to testify about his involvement in an alleged illegal campaign donation scheme.
According to a motion filed by U.S. federal prosecutors on Monday, Salame's attorney has said that, if subpoenaed, he intends to invoke his Fifth Amendment right.
The Fifth Amendment is a constitutional protection against self-incrimination that protects criminal defendants from having to testify if they may incriminate themselves through the testimony.
As of yet, Salame has not been charged with a crime, though he is accused of using customer funds to donate more than $24 million to Republican candidates in 2022.
Salame's role in alleged illegal campaign donations has been under investigation since FTX experienced a downfall last year.
Last month, it was revealed that federal prosecutors in Manhattan were probing whether Salame and his girlfriend Michelle Bond, a former congressional candidate, unlawfully evaded federal limits on campaign contributions.
At the time, reports said the investigators were focused on the money Salame donated to Bond, as well as loans she made to her campaign.
Salame's decision not to testify is reportedly linked to a private message he allegedly shared with a "trusted family member" in November 2021.
In the message, he purportedly admitted his involvement in the donation scheme.
The message suggests that former FTX CEO Sam Bankman-Fried aimed to donate funds to both Democratic and Republican candidates during the 2022 election cycle.
However, Salame objected to this approach, reasoning that it would alienate members from both parties.
Instead, Salame proposed making bipartisan donations to weed out anti-crypto Democrats and
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