RYAN Salame was FTX Digital Markets’s co-CEO, FTX’s Bahamian subsidiary.
But what is the story behind the multi-millionaire and what’s his net worth?
Who is Ryan Salame?
Ryan Salame graduated from the University of Massachusetts-Amherst’s Isenberg School of Management in 2015 with a degree in accounting.
He then earned a master’s in finance from Georgetown University in 2019.
Salame joined FTX in 2019 after leaving the stablecoin issuer Circle Internet Financial.
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Before that, he had served as a senior tax accountant at Ernst & Young (EY), where he allegedly helped Sam Bankman-Fried incorporate FTX Trading Ltd.
Salame spent two years as Alameda Research’s head of OTC [over-the-counter] for the Asia-Pacific region in Hong Kong, before becoming the co-CEO of FTX Digital Markets in September 2021.
FTX Digital Markets allowed users to convert fiat money into tokens and vice versa.
The company said on its LinkedIn page: “FTX Digital Markets offers users regulated access to FTX’s industry-leading derivatives, options, volatility products, and other FTX products and services.”
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When he was appointed co-CEO, Salame said: “I’m excited to plant the flag for FTX in The Bahamas. The relationship we have fostered with local regulators culminating with us being authorized under the framework offered through the DARE Act, gives me confidence that we’ll be able to work closely with regulators to make sure our offerings are compliant in multiple jurisdictions.”
FTX Digital Markets filed for Chapter 15 bankruptcy protection on Tuesday, 15, November 2022 in the Southern District of New York.
Brian Simms, one of the affiliate’s liquidators, said: “We are in the early stages of what will likely be a lengthy wind down or restructuring process for FTX Digital.
“As discussed, at this juncture, the full scope and location of FTX Digital’s assets, claims and liabilities are unknown.”
Salame was allegedly physically sick when he found out about the extent of deception at FTX following their collapse, including how the company misused and lost client funds.
What is Ryan Salame’s net worth?
Ryan Salame is believed to have a net worth in the region of $700 million.
Salame is also the owner of a number of restaurants that operate under Lenox Eats.
Salame has invested about $5 million into Lenox’s restaurant scene.
Salame is also a huge political donor and gave around $20 million to Republican candidates in 2022 making him the 15th largest donor for the last US election.