U.S. authorities have charged Michelle Bond, the partner of former FTX Digital Markets co-CEO Ryan Salame, with violations of campaign finance laws. The indictment, unsealed on August 22 in the U.S. District Court for the Southern District of New York, includes allegations of illegal campaign funding activities related to Bond’s 2022 congressional run.
The indictment, presented by U.S. Attorney Damian Williams, accuses Bond of multiple campaign finance violations. The specific charges include:
- Conspiracy to Cause Unlawful Campaign Contributions: Allegedly involved in orchestrating illegal campaign contributions.
- Causing and Accepting Excessive Campaign Contributions: Involves accepting more than the legal limit of contributions.
- Causing and Receiving an Unlawful Corporate Contribution: Receiving funds from corporate entities not allowed by law.
- Causing and Receiving a Conduit Contribution: Involves channeling funds through intermediaries to conceal the true source.
The indictment reveals that Bond’s co-conspirator, identified as her “romantic partner” and a “high-level executive at a now-defunct cryptocurrency exchange” (believed to be Salame), facilitated a $400,000 payment from the firm to Bond. Prosecutors allege that Bond made false statements to the Federal Election Commission and a congressional committee to hide her and her co-conspirator’s actions.
Bond, a Republican candidate, ran for New York’s 1st Congressional District in 2022. Her campaign did not advance beyond the party primary. The indictment details communication between Bond and her co-conspirator regarding the handling and reporting of funds for her congressional bid.
Salame’s Legal Troubles
In September 2023, Ryan Salame pleaded guilty to conspiracy to operate an unlicensed money transmitting business and engaging in campaign finance fraud. A federal judge sentenced Salame to 7.5 years in prison, with a report date set for October 13. Salame’s legal issues have been closely followed, given his high-profile role at FTX and his relationship with Bond.
On August 21, Salame’s legal team filed a petition to void his guilty plea. The petition argues that Salame had a verbal agreement with prosecutors that Bond would not face charges. Salame, who has a nine-month-old child with Bond, contends that authorities are targeting his family as well.
While facing these legal challenges, Michelle Bond has been active in the crypto space. She established a crypto-focused think tank aimed at fostering a “favorable regulatory environment” for financial technology, digital assets, and artificial intelligence. Bond has also been serving as the CEO of Capitol Advisory, a consulting firm, since 2023.
The indictment of Bond is part of a broader trend of legal repercussions in the cryptocurrency industry. In March 2024, former FTX CEO Sam Bankman-Fried was sentenced to 25 years in prison following a trial related to FTX’s collapse. Bankman-Fried’s legal team has since filed a notice of appeal, indicating ongoing legal disputes and scrutiny surrounding high-profile figures in the crypto space.
| Individual | Charges/Conviction | Sentence | Additional Notes |
|---|---|---|---|
| Michelle Bond | Campaign finance violations | – | Charges include multiple counts |
| Ryan Salame | Conspiracy, campaign finance fraud | 7.5 years | Petition to void plea filed |
| Sam Bankman-Fried | Financial crimes, including fraud | 25 years | Appeal filed |
Featured image credit: fabrikasimf via Freepik
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