On Friday, Sam Bankman-Fried, formerly in charge of one of the largest cryptocurrency exchanges globally, was convicted of fraud and money laundering following a month-long trial in New York.
He had received seven charges related to fraud and money laundering. Mr. Bankman-Fried pleaded not guilty.
His sentencing is scheduled for March 28 of next year. It is unclear for how many years he will be sentenced, but it is likely to be decades.
The verdict was reached after five hours of deliberation.
The 31-year-old ex-millionaire was arrested a year ago, right after his organisation, FTX, went bankrupt.
FTX, a cryptocurrency exchange, was valued at $32 billion (£26 billion) before it went bankrupt in November last year, leaving $8 billion in customer funds unaccounted for.
He was found guilty of lying to investors and lenders and stealing billions of dollars from FTX.
The court sketches of the moment he was found guilty show his parents hiding their reactions (likely tears) by covering their faces with their hands.
US attorney Damian Williams said to the press after the hearing that “Sam Bankman-Fried perpetrated one of the biggest financial frauds in American history—a multibillion-dollar scheme designed to make him the king of crypto. This case has always been about lying, cheating, and stealing, and we have no patience for it.”