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STORY: Ryan Salame is the latest executive of the now-bankrupt cryptocurrency platform FTX to pleaded guilty ahead of a trial of its founder, Sam Bankman-Fried.

On Thursday Salame admitted to criminal charges of campaign finance law in making tens of millions of dollars of unlawful donations to boost causes supported by his boss, Bankman-Fried.

Prosecutors say Salame, Bankman-Fried and former FTX engineering chief Nishad Singh used the company’s customer funds to donate to political candidates supporting crypto-friendly legislation.

They also say Salame told a confidante that Bankman-Fried hoped political donations would "weed out" anti-crypto Democratic and Republican lawmakers-- meaning defeat them in elections.

Salame gave more than $24 million dollars to Republican candidates and causes in the 2022 election cycle, according to Federal Election Commision data, making him a top donor that year.

He said in court that the money he used was recorded as loans from FTX's sister company, the hedge fund Alameda Research, but he did not intend to pay them back.

At a Thursday hearing before a district judge in Manhattan, the 30-year-old pled guilty to one count of conspiracy to make unlawful political contributions and one count of conspiracy to operate an unlicensed money transmitting business.

After the hearing, Salame's lawyer said quote:

"Ryan looks forward to putting this chapter behind him and moving forward with his life."

As part of his plea deal, Salame agreed to forfeit more than $1.5 billion dollars, though prosecutors agreed to accept a combination of cash and assets, including two Massachusetts properties, a Porche, and interest in a company through which he reportedly owns a tavern.

Salame was released on a $1 million dollar bond and is scheduled to be sentenced in March next year.

He is now the fourth former executive from Bankman-Fried’s companies to plead guilty.

Bankman-Fried is scheduled to stand trial next month on charges of stealing billions to plug losses at Alameda.

The 31-year-old previously pleaded not guilty to fraud and conspiracy charges stemming from FTX's collapse in 2022.