Michelle Bond, the partner of former FTX executive Ryan Salame, has been accused of violating U.S. campaign finance laws, according to an unsealed indictment.

Ex-Congressional aspirant Michelle Bond was accused of financing her failed 2022 New York House campaign with money from an unspecified Bahamas-based crypto exchange.

Per the unsealed document seen on Aug. 22, Damian Williams, United States Attorney for the Southern District of New York, argued that Bond injected at least $400,000 of illegal money into her candidacy from a “shame consulting agreement.”

Bond was already involved with Salame at the time, and he worked for FTX crypto exchange. The company, founded by imprisoned crypto tycoon Sam Bankman-Fried, was based in the Bahamas and charged with similar campaign law violations. 

Federal prosecutors claim that Bond admitted the exchange’s role in funding her campaign during a Trade Group board meeting. FBI acting assistant director Christia M. Curtis added that Bond intentionally misled Congress about the source of the funds and employed other tactics to cover her tracks.

FTX’s Salame in protracted litigation

The unsealed charges against Bond come shortly after Salame accused the government of reneging on a plea deal. The agreement, according to Salame, included his guilty plea and a promise to halt any investigation into Bond.

Salame pleaded guilty to conspiracy in September 2023, around the time of Bankman-Fried’s trial, and was sentenced to seven and a half years behind bars. He now intends to challenge his sentence or seek the dismissal of charges against Bond.

Fed’s blast Salame

In response, prosecutors cited Salame’s post-sentencing social media statements as a “complete lack of remorse” for America’s legal complex.

Salame had posted tweets accusing fellow FTX executives Caroline Ellison and Nishad Singh of lying to secure better plea deals from the government. On Aug. 21, prosecutors highlighted these posts, stating that they showed no remorse for his actions.

Defunct cryptocurrency lending platform BlockFi is set to start repaying its creditors in July, 19 months after filing for bankruptcy.

Collapsed crypto lending platform BlockFi will start repaying its creditors in July, nearly two years after the firm filed for bankruptcy amid the dramatic collapse of the FTX crypto exchange.

In an X post on Thursday, the New Jersey-headquartered firm said the distributions will be processed “in batches in the coming months” via Coinbase, adding that eligible clients will receive a notification to the BlockFi account email on file. However, it clarified that non-U.S. clients remain unable to receive funds due to regulatory requirements, with no specified timeline for these repayments.

For those who are unable to open a Coinbase account, BlockFi earlier assured that all distributions “will be made in cash.”

In March, BlockFi announced it is unlikely to fully repay customers with interest-bearing accounts. The company had previously estimated that these customers might recover between 39.4% and 100% of their account value. The crypto lending giant filed for Chapter 11 protection in November amid market volatility and substantial exposure to the defunct crypto exchange FTX. Less than a year later, BlockFi emerged from bankruptcy and is now working on repaying its creditors.