Michelle Bond, Wife of Former FTX Executive, Set for November Trial in Campaign Finance Case

Michelle Bond, the wife of former FTX Digital Markets co-CEO Ryan Salame, who is serving a 7.5-year prison sentence after reaching a plea agreement with prosecutors, is scheduled to stand trial in November following delays stemming from motions related to her husband's plea deal.

On Wednesday, Judge George Daniels in the US District Court for the Southern District of New York ordered a trial start date of Nov. 9 for Bond, who faces four charges related to campaign finance law violations. The proceedings came a week after the judge denied Bond's motion to dismiss the indictment, based on claims that prosecutors had promised Salame she would not be charged if she pleaded guilty.

Bond’s case is one of the final criminal proceedings related to the collapse of cryptocurrency exchange FTX, which filed for bankruptcy in 2022. The event led to criminal charges for Salame and other executives, including former CEO Sam “SBF” Bankman-Fried and former Alameda Research CEO Caroline Ellison.

In an August 2024 indictment, prosecutors alleged that Bond and Salame “illegally funded” the former’s 2022 campaign for the US House of Representatives. Salame allegedly used $400,000 of FTX funds as part of a “sham” payment in violation of campaign finance laws. Bond ran as a Republican in New York’s 1st congressional district but lost in the primary to Nicholas LaLota.

Salame, charged in 2022 along with Bankman-Fried and others, was sentenced to 90 months in prison in 2024 after pleading guilty to conspiracy to make unlawful political contributions. He initially attempted to vacate his plea after claiming that prosecutors misled him over charging Bond, but ultimately reported to prison in October 2024 and left the matter to his wife’s case.

Bankman-Fried, angling for a presidential pardon, loses appeal

Salame, Bankman-Fried and Ellison were the only three people tied to FTX to receive prison time. Two other executives, Nishad Singh and Gary Wang, were given time served after testifying against SBF at trial. Ellison, meanwhile, was released early in January after serving less than her two-year sentence.

Aside from Bond’s expected trial, Bankman-Fried was the only one connected to the crypto exchange to have his day in court. He was found guilty on seven felony charges and sentenced to 25 years in prison in 2024.

Although Bankman-Fried filed to appeal his conviction and sentence, he also recently applied for a presidential pardon from Donald Trump. The Second Circuit Court of Appeals rejected SBF’s appeal earlier this month, leaving the US Supreme Court or a presidential pardon as his only likely path to freedom over the next 20 years.