Former top FTX exchange manager pleads guilty to two episodes of charges

Salame, a former top executive at the FTX exchange, pleaded guilty to two episodes of charges

Ryan Salame's plea agreement did not include a promise to testify against FTX founder Sam Bankman-Friede

Former FTX top executive Ryan Salame pleaded guilty to two counts in a criminal case, Bloomberg reported, citing sources.

Salame appeared in Manhattan federal court on Sept. 7, where he pleaded guilty to one campaign finance violation and one charge of operating an illegal money transfer business, the publication said.

Salame's plea agreement did not include a promise to testify against FTX founder Sam Bankman-Fried, who goes on trial for fraud next month, but the deal is likely to increase pressure on the former cryptocurrency exchange chief, Bloomberg notes.

Salame began plea negotiations with prosecutors in August. It was not reported at the time whether he would testify against Bankman-Friede

Salame was one of Bankman-Fried's closest aides. After the platform was incorporated in the Bahamas in 2021, he became an intermediary between the company and the local government and was appointed chief executive of FTX Digital Markets, the Bahamian operator of the FTX exchange.