According to insiders who reached out to Bloomberg, there are intriguing developments surrounding Ryan Salame, the former co-chief executive of FTX Digital Markets. The buzz is that he is gearing up to admit guilt in response to criminal charges. This marks a significant shift from his earlier stance, which was revealed in mid-August when he appeared poised to invoke the Fifth Amendment, thereby rendering himself unavailable as a potential witness.

Ryan Salame’s Dramatic Turn: From Invoking the Fifth to Pondering Guilty Plea

The current narrative presents a contrasting perspective, hinting at the potential formation of a plea agreement concerning Ryan Salame, the former co-chief of FTX. Citing “people familiar with the case,” Bloomberg reports that Salame is poised to enter a guilty plea in connection with the FTX collapse.

Bloomberg’s Ava Benny-Morrison delivered this report on September 7, 2023, diverging from the accounts of the previous month. During that period, court documents from the prosecution’s case against ex-FTX CEO Sam Bankman-Fried (SBF) had indicated that Salame had expressed his intention to invoke the Fifth Amendment if subpoenaed, rendering him “unavailable as a witness.”

Should Salame indeed plead guilty, he will become the fourth individual to do so, joining Caroline Ellison, Gary Wang, and Nishad Singh. SBF, on the other hand, has pleaded not guilty to all the criminal charges against him and is presently incarcerated, awaiting trial at the Metropolitan Detention Center in Brooklyn. The trial is scheduled for October, and SBF’s legal team is actively seeking his release from custody to prepare for the upcoming proceedings.

What do you think about the insiders who say Salame plans to enter a guilty plea? Share your thoughts and opinions about this subject in the comments section below.