Sam Bankman-Fried, who once ran one of the world's biggest cryptocurrency exchanges, has been found guilty of fraud and money laundering at the end of a month-long trial in New York.

The jury delivered its verdict after less than five hours of deliberations.

It concludes a stunning fall from grace for the 31-year-old former billionaire, once known as the "King of Crypto", who now faces decades in jail.

Bankman-Fried was arrested last year after his firm, FTX, went bankrupt.

His sentencing has been set for 28 March next year.

Cryptocurrency exchange FTX was once valued at $32bn (£26bn), but when it went bankrupt in November last year $8bn in customer funds was missing.