SAM Bankman-Fried — once dubbed the Crypto King — has been found guilty of one of the biggest financial frauds in history.
He could now face a maximum sentence of 110 years in prison in a dramatic downfall.
Bankman-Fried, 31, founded FTX, which grew to become the world’s second-largest digital coin exchange.
But the £26billion company imploded last November and was accused of swindling more than a million customers out of £8billion.
A jury in New York has now found him guilty of lying to investors, lenders and of seven counts of fraud and money-laundering.
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His sentencing will start in March.
The case has damaged the reputation of digital currency and led to calls for greater regulation.
The UK intends to bring in new crypto rules year aimed at protecting customer cash and minimising financial risk.
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