A jury convicted Bankman-Fried, the founder of cryptocurrency exchange FTX, on seven counts of fraud, embezzlement and criminal conspiracy after over four hours of deliberations

Prosecutors accused Bankman-Fried of stealing about $10bn, using customers’ funds to make risky investments, buy property and fund political campaigns.

The crypto entrepreneur, who is aged 31, now faces up to 110 years behind bars.

The verdict, following a month-long trial, comes almost a year after FTX filed for bankruptcy estimated at $26bn