During his time, he testified before Congress, bought an expensive Super Bowl advertisement and was even thinking of running for president.  However, all of that is dust in the wind after a New York jury convicted him of fraud in a scheme that cheated customers and investors of at least $10 billion.

After the monthlong trial, jurors rejected Bankman-Fried's claim during four days on the witness stand in Manhattan federal court that he never committed fraud or meant to cheat customers before FTX, once the world's second-largest crypto exchange, collapsed into bankruptcy a year ago.

Assistant US Attorney Danielle Sassoon told the Jury: “His crimes caught up to him. His crimes have been exposed."

The court heard how Bankman-Fried turned his customers' accounts into his "personal piggy bank" as up to $14 billion disappeared.

US Attorney Damian Williams told reporters after the verdict that Bankman-Fried "perpetrated one of the biggest financial frauds in American history, a multibillion-dollar scheme designed to make him the king of crypto."

" The cryptocurrency industry might be new. The players like Sam Bankman-Fried might be new. This kind of fraud, this kind of corruption, is as old as time, and we have no patience for it," he said.

his sentencing has been set for 28 March 2024. The second trial, on charges of bank fraud and other violations, is also set for March 2024.