A very comfortable golden parachute for the former co-CEO of FTX?

mer 04 Jan 2023 ▪ 14h00 ▪
min read – by

Could he have sensed the danger very early on? In any case, Ryan Salame started diversifying his portfolio long before the FTX cyclone formed. Among other sources of income, he has chosen to invest in 6 restaurants in Massachusetts, his native state.

Six restaurants named after Ryan Salame in Massachusetts

He is not part of ex-colleagues of SBF who pleaded guilty to fraud in bringing down FTX. The press almost forgot about him until he decided to denounce the transfers of investors’ assets to Alameda Research on November 9th. Recently, Bloomberg granted him an article in which its investments outside the cryptocurrency sector are highlighted. Indeed, Mr. Salame has acquired restaurants in Massachusetts.

According to Jennifer Nacht, director of the Lenox Chamber of Commerce, this former co-CEO of FTX owns six restaurants in the town of Lenox.

« He wanted to preserve the city as it was. I really think he had a genuine interest “says the person who sold him his ice cream parlor “The Scoop” in 2021.

Currently, this University of Massachusetts Amherst graduate is said to run two restaurants, a dessert shop, a bakery, a food truck and an ice cream parlor in this town of approximately 5,000 inhabitants.

It should also be noted that the management of these establishments, which were acquired during the summer of 2021 via Lenox Eats Collective, is the responsibility of Jane Blanchard. Knowing that Ryan Salame currently resides in the Bahamas, the same state that was home to SBF before son extradition to the United States.

Rayan Salame pictured outside one of his Lenox restaurants in 2021

What about the investment funds of this former FTX executive?

He had to pay 6 million dollars to be able to launch this new business. Where did he get these funds from? According to Fox BusinessRyan Salame is among the FTX executives who received a loan fromAlameda Research.

This commercial arm of FTX would have actually lent $55 million to this former EY accountant. In addition, it also awarded $1 billion to Sam Bankman-Fried and $543 million to Nishad Singh, former chief engineering officer of FTX.

The New York Times, which granted un long article on Mr. Salame, also evoked the altruistic side of this ex-baron of FTX. To say that his largesse was limited only to American politicians, more specifically to Republicans. If SBF had gone so far as to give $40 million to the democratshis teammate paid $24 million to the opposing party.

It is now known that the massive withdrawals of FTT holdings are not the only causes of the FTX debacle. Because there have indeed been problems of fund management long before this storm.

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