Former FTX Digital Markets CEO Ryan Salame is writing his memoirs about his experiences at the now-collapsed SBF crypto exchange, according to a post published Monday by the former FTX executive.
Former FTX CEO Ryan Salame writes memoirs about FTX, Alameda Research
According to the post, Salame has spent “a significant amount” of his time reviewing his experience running FTX’s Bahamian subsidiary as well as his early experience at sister firm Alameda Research.
“I will keep $0 of the proceeds once the book is printed,” Salame continued. “I am still waiting on the publisher, but I hope to have it completed and published as soon as possible.
During the past year I dedicated a significant amount of my time to writing a complete memoir of my time at ftx and alameda. I’ll be keeping 0$ of the proceeds once it hits print. Waiting on publishers at this point but hope to get it done and out asap.
News of Salame’s possible book deal comes just a week after he was sentenced to more than 7.5 years in prison and ordered to pay an $11 million fine for criminal charges stemming from his time at the crypto exchange.
Salame, who refused to cooperate with U.S. prosecutors, initially pleaded guilty to running an illegal money transfer business and making unlawful political donations in connection with the crypto exchange in October 2023.
The former FTX executive was the first to be convicted for his crimes, aside from Sam Bankman-Fried himself, who was sentenced to 25 years in prison and $11 billion last March.
Several FTX creditors are dissatisfied with the estate’s current repayment plan
Meanwhile, the FTX estate recently announced a repayment plan that will see 98% of creditors recoup 118% of their claims. However, not every victim of the $8 billion crypto scam is happy with the results.
Some FTX creditors are upset about the executor’s assessment of certain claims, especially against the backdrop of the recovering crypto market.
According to activist and FTX creditor Sunil Kuvari, a number of FTX victims are participating in a class action lawsuit against law firms Sullivan and Cromwell and Fenwick and West for allegedly aiding and abetting a massive digital asset fraud.
Kuvari has reported that Sam Bankman-Fried (SBF) has agreed to join the FTX creditor lawsuit.
“It sucks that I probably wouldn’t be going to prison for seven and a half years if I had just sold my pile of crypto like I planned to do instead of listening to multiple lawyers and taking out a loan from Alameda instead,” Salame.
Kuwari said he would “like to speak with Salami about possibly joining the lawsuit.”
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