Sam Trabucco Breaks Silence to Support Ryan Salame After FTX Collapse

Sam Trabucco, a key player in Sam Bankman-Fried’s circle, has broken his silence following the FTX crypto exchange collapse in late 2022. Bloomberg reports that Trabucco has come forward to endorse Ryan Salame, a former FTX executive awaiting sentencing for his role in the platform’s downfall.

Trabucco praised Salame in a letter, calling him the “funniest, most passionate, most supportive friend” he’s ever had. The letter, part of recent court filings, marks Trabucco’s first public communication since FTX’s bankruptcy in November 2022. As the former co-CEO of Alameda Research, a crypto fund created by Bankman-Fried, Trabucco played a vital role in venture capital and market-making. However, he left Alameda in August 2022, three months before FTX’s failure, and withdrew from public view.

Unlike other close associates like Caroline Ellison, Gary Wang, and Nishad Singh, Trabucco did not participate in Bankman-Fried’s trial or provide evidence. Bankman-Fried was sentenced to 25 years in prison in March, while his colleagues await their sentences. Trabucco has not faced public accusations of wrongdoing.

Trabucco has a long history with Bankman-Fried, dating back to their days at MIT math camp. He often shared how his poker strategies influenced Alameda’s trading. Before Alameda’s collapse, Trabucco allegedly received about $25 million from the firm. Alameda also bought a 52-foot yacht for Trabucco, named “Soak My Deck.”

Ryan Salame, who managed FTX’s digital assets unit in the Bahamas, pleaded guilty to conspiracy charges involving an unlicensed money-transmitting business and campaign finance fraud. Support letters for Salame have come from diverse sources, including a Georgetown finance professor, a martial arts grandmaster, family members, neighbors, former FTX employees, and Bahamian residents.