The New York Times: Who’s already flipped on FTX?

Sam Bankman-Fried’s scheme that used FTX client funds to cover the losses of Alameda Research was disclosed to Bahamaian authorities by Ryan Salame, the 29-year-old former co-CEO of FTX. Prosecutors are searching for others who may have known about the illegal operation that led to FTX’s collapse. It is likely that Salame struck a deal with prosecutors for providing information, but he may still face prosecution. “The judge is going to ask who cooperated,” said Sid Mody, a partner at O’Melveny & Myers LLP.

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