‘Crypto King’ Sam Bankman-Fried found guilty
Sam Bankman-Fried, who once ran one of the world's biggest cryptocurrency exchanges, has been found guilty of fraud and money laundering at the end of a trial in New York.
Sam Bankman-Fried, who once ran one of the world's biggest cryptocurrency exchanges, has been found guilty of fraud and money laundering at the end of a month-long trial in New York.
The jury delivered its verdict after less than five hours of deliberations.
It concludes a stunning fall from grace for the 31-year-old former billionaire, once known as the "King of Crypto", who now faces decades in jail.
Bankman-Fried was arrested last year after his firm, FTX, went bankrupt.
His sentencing has been set for 28 March next year.
Cryptocurrency exchange FTX was once valued at $32bn (£26bn), but when it went bankrupt in November last year $8bn in customer funds was missing.
(Picture: FTX Founder Sam Bankman-Fried Returns To Court In The Bahamas. Picture credit: Getty Images)
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