Michelle Bond, the wife of former FTX Digital Markets co-CEO Ryan Salame, has been set for trial in November over federal campaign finance allegations tied to the 2022 US House of Representatives race. Judge George Daniels of the US District Court for the Southern District of New York scheduled Bond’s trial to begin on Nov. 9, after earlier delays connected to motions arising from Salame’s plea agreement.
The case is one of the final remaining criminal proceedings related to the 2022 collapse of FTX, an event that triggered a wave of prosecutions across the crypto industry. Salame is already serving a 7.5-year prison sentence following his plea deal with prosecutors.
Key takeaways
- Judge George Daniels has scheduled Michelle Bond’s trial for Nov. 9 in the Southern District of New York.
- Bond faces four charges tied to alleged violations of US campaign finance law.
- The case follows a week after the judge denied Bond’s motion to dismiss the indictment.
- Prosecutors allege the campaign was funded with what they describe as FTX-linked improper contributions.
- Bond’s trial sits alongside the broader legal aftermath of FTX executives, where appeals and clemency efforts continue for some defendants.
Trial date set as a dismissal effort fails
On Wednesday, Daniels ordered that Bond’s proceedings start on Nov. 9. The ruling came shortly after the court denied Bond’s request to dismiss the indictment. Her dismissal motion was rooted in claims connected to the plea negotiations involving her husband.
According to earlier coverage, Bond sought dismissal based on allegations that prosecutors had promised Salame he would not be charged if he pleaded guilty. Daniels rejected the argument a week earlier, clearing the way for Bond’s case to move forward on a defined schedule. The trial date matters not only procedurally—by setting a clear timeline—but also substantively, as it reduces the likelihood that the campaign-finance case will be stalled by legal disputes over how plea agreements were communicated.
How prosecutors describe the alleged campaign funding
Bond’s case traces back to an August 2024 indictment. Prosecutors alleged that Bond and Salame “illegally funded” the congressional campaign of Bond’s 2022 run for a seat in the US House of Representatives.
The indictment centers on campaign finance law violations, with prosecutors claiming Salame used $400,000 of FTX funds as part of what they characterized as a “sham” payment. Bond ran as a Republican in New York’s 1st congressional district, but she lost in the primary to Nicholas LaLota.
The allegations place Bond’s prosecution firmly within the criminal-legal fallout from FTX’s bankruptcy filing in 2022. While the underlying collapse of the exchange involved complex questions of corporate and trading practices, the criminal counts in this phase are focused on political financing and the legality of how campaign contributions were arranged and reported.
Where the FTX criminal cases stand
Bond’s upcoming trial is being framed as one of the last criminal matters directly tied to individuals connected to FTX. Salame was sentenced in 2024 after pleading guilty to conspiracy to make unlawful political contributions. He initially tried to challenge the plea by arguing prosecutors had misled him about whether Bond would face charges, but that effort did not succeed.
Salame ultimately began serving his sentence in October 2024 and left the remaining dispute over Bond’s indictment to her case. The separation underscores an important dynamic in such prosecutions: even after one defendant resolves a case through a plea, other defendants—depending on how charges and plea facts are treated—may continue litigating their own defenses.
Beyond Bond and Salame, prosecutors pursued several other high-profile FTX-linked figures. Former CEO Sam “SBF” Bankman-Fried and former Alameda Research CEO Caroline Ellison were also charged. Ellison was released early in January after serving less than her two-year sentence. Two other executives tied to FTX, Nishad Singh and Gary Wang, received time served after testifying against Bankman-Fried at trial.
Bankman-Fried’s appeal rejection and clemency path
While Bond’s trial date moves her case closer to resolution, Bankman-Fried’s legal situation remains an important parallel thread in the FTX fallout. He was found guilty on seven felony charges and sentenced to 25 years in prison in 2024. Although he filed an appeal to overturn his conviction and sentence, the Second Circuit rejected his appeal earlier this month, according to reporting from Cointelegraph.
Separately, Bankman-Fried also applied for a presidential pardon from Donald Trump. With the appeals process unsuccessful, his remaining potential routes to freedom are described as either pursuing further review through the US Supreme Court or seeking relief through executive clemency.
This contrast—Bond facing a scheduled trial while Bankman-Fried’s appeal has been rejected—highlights how FTX prosecutions have diverged across defendants. Some cases appear to be moving toward final judgments through trial proceedings, while others are funneling into the later-stage appellate and pardon pipeline.
For market participants, the practical takeaway is that the legal aftermath of FTX continues to unfold in phases: Bond’s Nov. 9 trial date is a concrete next milestone for the campaign-finance counts, while Bankman-Fried’s rejected appeal and pardon effort keep uncertainty alive about how long the broader FTX-linked criminal story will remain in public and legal focus. Readers should watch for how the court handles pretrial issues in Bond’s case, and whether any further filings emerge that could affect the trial schedule or scope of claims.
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