FTX CEO Ryan Salame turned on SBF; alerted authorities to alleged improper payments to Alameda

A former high-level FTX executive informed Bahamian officials of transfers of client funds from the spiraling crypto exchange to sister company Alameda Research two days before the platform filed for bankruptcy, and pointed to lawsuits against other FTX executives, including founder Sam Bankman-Freed. display

Bahamian officials allege in documents filed Wednesday that during a Nov. 9 conference call, then-FTX Digital CEO Ryan Salame told them that client assets “that could have been held” on the exchange had been transferred to Alameda for “financial to cover losses.” “in a hedge fund.

According to court documents, former FTX Digital CEO Ryan Salamen reported alleged improper payments to Alameda Research to Bahamian officials. (Gillian Jones/Berkshire Eagle)

Salameh allegedly warned that the transfers were “not authorized or agreed to” by customers, and said the only people with access to make the unauthorized payments were Bankman-Fried, FTX’s director of engineering, Nishad Singh or co-founder Zixiao (Gary) Wang.

The revelations prompted Bahamian officials to demand a police investigation into FTX on the same day, given that the transfer of client funds may have been criminal.


Salameh’s conversation with Bahamian authorities came as FTX was in free fall. In the three days leading up to the Nov. 9 call, FTX reportedly saw nearly $6 billion in cash in the bank, leaving Bankman-Fried scrambling to save his empire. On November 11, FTX filed for bankruptcy.

Photo by Sam Bankman-Fried

Sam Bankman-Fried, Co-Founder and Chief Executive Officer of FTX in Hong Kong. A judge in the Bahamas ordered Bankman-Fried held until Feb. 8 despite federal charges against him in the United States. (Photo by Lam Yik/Bloomberg via Getty Images/Getty Images)

Bankman-Fried was arrested earlier this week on several charges related to the collapse and remains in jail in the Bahamas.


In addition to a string of frauds, Bankman-Friedy, who donated nearly $40 million to Democratic campaigns and groups during the 2022 election cycle, was accused of violating campaign finance laws.

The SBF is escorted to a car by armed police

Samuel Bankman-Fried leaves the Magistrate’s Court, Nassau Bahamas, December 13, 2022. (Mega for Fox News Digital / Fox News)

So, Sam Bankman-Fried is the only FTX executive to be indicted for the crypto exchange’s downfall, which resulted in billions of dollars in losses for clients.


Salameh also made significant political donations during the midterm elections, but supported the other side of the aisle. The New York Post reported that Salame gave 20 million dollars to the Republicans during the last cycle.

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