The criminal case against Michelle Bond, wife of former FTX Digital Markets co-CEO Ryan Salame, may soon be resolved without a trial. In a significant move, interim U.S. Attorney for the Southern District of New York, Jay Clayton—the former SEC Chair—requested a delay to allow both sides to explore a potential resolution.
Prosecutors Request Time to Negotiate
In a court filing on Thursday, Clayton asked the judge to exclude seven days under the Speedy Trial Act, emphasizing that the extra time would allow the government and defense to:
- Review discovery materials
- Consider potential motions
- Discuss a non-trial resolution
Judge George Daniels agreed, canceling a July 15 hearing and rescheduling oral arguments for July 22.
“An exclusion of time would serve the ends of justice,” Clayton wrote, suggesting that avoiding trial may be in the best interest of both the public and the defendant.
Background: Campaign Finance Charges and FTX Ties
Bond was indicted in August 2024 on campaign finance violations stemming from her 2022 Congressional campaign. Her legal team has claimed that the prosecution violated a prior verbal agreement, under which she wouldn’t be investigated as part of Ryan Salame’s plea deal.
Bond’s case is one of the last remaining criminal proceedings linked to the collapse of FTX in 2022. Other key figures, including:
- Sam Bankman-Fried,
- Caroline Ellison,
- Ryan Salame,
- Nishad Singh, and
- Gary Wang
have either been sentenced or had their cases resolved.
Ryan Salame’s Sentence and Bond’s Defense
Salame was sentenced to over seven years in prison in May 2024 after a plea deal. He initially attempted to nullify the deal, alleging prosecutors agreed not to pursue charges against Bond. That effort was abandoned, and he began his sentence in October.
Bond’s lawyers have maintained that her prosecution contradicts the understanding allegedly formed during Salame’s negotiations, a point central to her defense.
A Rare Intervention by Jay Clayton
Clayton’s request marks a rare direct involvement in a crypto-related case during his short tenure as interim U.S. Attorney. Appointed in April, Clayton may serve in this capacity until August 20, unless extended.
This case reflects the final chapters of legal fallout from FTX’s collapse, with attention now turning to how remaining cases will be settled—either through the courts or negotiated deals.
Conclusion
As the DOJ signals openness to a resolution, Michelle Bond’s trial may be avoided altogether, potentially closing a turbulent chapter in one of crypto’s most high-profile scandals. If resolved without going to trial, it would underscore a strategic shift in how U.S. authorities are choosing to wind down the FTX criminal saga.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.