FTX Lieutenant Ryan Salame Is Heading to Prison—So, What Happens to His Enormous $4.2 Million Maryland Mansion?

Former FTX executive Ryan Salame appeared to make a mockery of his prison sentence just moments before beginning his seven-year stint behind bars by updating his job on his LinkedIn profile to "inmate at FCI Cumberland."

In a post shared on the same day that Salame began his sentence, the former cryptocurrency exec wrote: "I'm happy to share that I'm starting a new position as Inmate at FCI Cumberland!"

The Massachusetts native, who worked as the co-CEO of the bankrupt cryptocurrency exchange 's Bahamian outfit, pleaded guilty to making illegal political contributions and conspiracy to operate an unlicensed money-transmitting business back in September. He has agreed to forfeit $1.5 billion and to pay more than $5 million in restitution.

Salame was handed a 7.5-year sentence in May of this year, and he was also sentenced to three years of supervised release when he has finished serving his time behind bars.

Salame had worked with disgraced founder Sam Bankman-Fried , starting at Alameda Research in Hong Kong, from 2019 to 2021, before being made co-CEO of FTX's Bahamian affiliate FTX Digital Markets.

Bankman-Fried is currently serving a 25-year sentence for his role in the staggering $8 billion fraud that led to the November 2022 collapse of his crypto exchange. In March, Realtor.com® exclusively revealed that his $222 million Bahamas real estate empire was set to hit the market in the wake of his arrest.

The company was preparing to sell off the real estate holdings in an attempt to pay back a long list of creditors, including thousands of defrauded customers, who have filed claims totaling $16 billion.

But what of Salame's personal pad: a beautiful mansion in Maryland?

Maryland mansion

Salame purchased the home in 2022 for $3,995,000, and shared it with his wife, Michelle Bond, a crypto policy expert who is also dealing with legal troubles connected with FTX, and their son.

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The residence was first listed in January 2022 for $4,599,999. It was relisted later that year at a lower price, for which it was then sold.

The massive mansion, located in Potomac, MD , is currently estimated to be valued at $4.2 million, according to Realtor.com. That's well above the median home price for the area, which is $1.7 million, according to Realtor.com data.

Although it is not yet on the market, the home is set to be sold and the proceeds surrendered, according to the New York Times .

The outlet reported in April 2023 that Salame's home had been searched by the FBI after he was charged by prosecutors.

Ritzy residence

Built in 1990, the lavish home sits next to the fourth hole of the TPC Potomac championship golf course. The half-acre lot includes a heated pool and a three-car garage.

The nearly 13,500-square-foot home has five beds and 7.5 baths. Highlights include an entry foyer with a 28-foot ceiling, seven fireplaces, an elevator, a "banquet"-sized dining area, and a family room with outdoor access. The library-office combo comes with a gold-leaf ceiling, fireplace, and double wall of bookcases.

The amenities continue on every floor, including a "home resort" with a hot tub, indoor swim spa, gym, and sauna.

The lower level features a home theater, kitchen with a bar area, billiard room, and wine cellar.