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How Ryan Salame's Neighbors Got Tangled Up In FTX's Fallout | Bloomberg Crypto
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January 18, 2023
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16:22Now PlayingWestern Massachusetts is a very different place from the Bahamas, where the FTX crypto exchange had its headquarters. But the small town of Lenox there is feeling the effects of the FTX bankruptcy nonetheless.
The reason is Ryan Salame, the former coCEO of FTX Digital Markets who was also a major player () in the economy of Lenox.
Salame grew up in Berkshire County, of which Lenox is a part. The town has fewer than 10,000 residents - closer to 5000 actually, according to the most recent census. In March 2022, the county’s local newspaper the Berkshire Eagle reported that Salame owned multiple restaurants and other properties in the town.
What’s going to happen to those restaurants now that FTX has filed for bankruptcy and Salame is out of a job? Bloomberg reporter Carly Wanna () joins this episode for the latest.
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Crypto is the world's hottest financial trend. Digital tokens like Bitcoin and NFTs have moved from niche products to showing up in Super Bowl commercials and song lyrics. Advocates of these new asset classes promise they will democratize the finance industry, and they hail the blockchain technology that backs it all as the future of computing. Skeptics say it's another financial house of cards. No newsroom on the planet is better equipped than Bloomberg to cut through all the noise and provide clarity, context and authority.
In this new daily podcast, Bloomberg’s reporting team will tease out what’s actually important in the crypto conversation. Led by crypto expert Stacy-Marie Ishmael, the podcast will draw on reporters in every region and credible voices in the industry to cover everything from regulation to alt coins to DeFi, and even the environmental impact of the currency that promises to change the finance landscape indefinitely.
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