The U.S. Federal Bureau of Investigation (FBI) executed a search warrant at the residence of Ryan Salame, a former executive at FTX Digital Markets, earlier today. According to a report by the New York Times, the search took place at approximately 7 a.m. ET in Potomac, Maryland.
The Times cited individuals familiar with the matter who stated that the exact nature of the search is unknown. This comes as part of an ongoing federal investigation into the collapse of FTX, a leading cryptocurrency exchange, which suffered a dramatic downfall in November 2022.
Ryan Salame: Former Co-CEO of FTX Digital Markets
Ryan Salame was formerly the co-CEO of FTX Digital Markets, the Bahamas-based operation of the exchange giant, until December 2022. Before that, he worked for FTX’s sister company, Alameda Research. The details surrounding his departure from FTX are unclear, but the raid by the FBI suggests that he may be a person of interest in the ongoing investigation.
Long-Running Investigation into FTX
The raid on Salame’s home comes as part of a long-running federal investigation into the collapse of FTX. Former CEO Sam Bankman-Fried has already been indicted by U.S. prosecutors, and a group of FTX insiders have agreed to cooperate with the investigation.
The collapse of FTX in November 2022 was a significant event in the cryptocurrency world, and the fallout has continued to reverberate throughout the industry. While the exact reasons for the exchange’s collapse are unclear, it is believed that the investigation by U.S. authorities is focused on potential wrongdoing by FTX executives and insiders.