Berkshire Native Ryan Salame Sentenced to 7.5 Years in Prison for FTX Collapse

The former FTX Digital Markets co-CEO is serving his sentence at FCI Cumberland in Maryland.

Published on Feb. 10, 2026

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Ryan Salame, a 33-year-old native of Sandisfield, Massachusetts, was sentenced to 7.5 years in federal prison for his role in the collapse of the FTX cryptocurrency exchange. Salame, who once owned multiple restaurants and commercial properties in the Lenox area, pleaded guilty to violating campaign finance laws and operating an illegal money-transmitting business. He is currently serving his sentence at FCI Cumberland in Maryland.

Why it matters

The downfall of FTX, once one of the largest cryptocurrency exchanges, has had far-reaching consequences, including the imprisonment of key figures like Salame. This case highlights the risks and legal pitfalls associated with the rapidly evolving cryptocurrency industry and the importance of regulatory oversight.

The details

Salame, a graduate of UMass Amherst and Georgetown University, rose to become the co-CEO of FTX Digital Markets, the Bahamas-based subsidiary of FTX. At his peak, he owned approximately six properties in Lenox, including the popular Olde Heritage Tavern and other downtown restaurants. However, when FTX collapsed in November 2022, it was revealed that the company had loaned Salame $55 million. In September 2023, he pleaded guilty to the charges and was sentenced to 7.5 years in prison.

  • Salame began serving his 7.5-year sentence in October 2024.
  • His release date has recently been moved up to March 2031 due to good behavior credits.

The players

Ryan Salame

A 33-year-old native of Sandisfield, Massachusetts, who was the co-CEO of FTX Digital Markets and owned multiple properties in Lenox, Massachusetts.

Becky Piccolo

The current co-owner of the Olde Heritage Tavern in Lenox, Massachusetts, which she purchased from Anne Selke after Salame lost the property.

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What they’re saying

“Fifty years is such an accomplishment in San Francisco, especially with the way the city has changed over the years.”

— Gordon Edgar, grocery employee (Instagram)

The takeaway

This case highlights the risks and legal pitfalls associated with the rapidly evolving cryptocurrency industry and the importance of regulatory oversight. It also serves as a cautionary tale about the consequences of financial crimes, even for those who have achieved significant success in their careers.