Sam Bankman-Fried, founder of collapsed crypto exchange FTX, was found guilty on all seven counts of fraud he faced, including wire fraud and securities fraud. A federal jury in New York returned the guilty verdicts after just hours of deliberation. The case revolved around accusations that Bankman-Fried misappropriated billions of dollars in customer funds from FTX for investments and activities at Alameda Research. Prosecutors argued this constituted criminal fraud. Bankman-Fried maintained his innocence on the stand but the jury sided with the prosecution's argument that he purposely misled investors and customers. Bankman-Fried now faces up to 115 years in prison at sentencing.