Sam Bankman-Fried, the former billionaire cryptocurrency executive convicted of fraud and money laundering last year, is scheduled to appear in a New York court on Thursday for sentencing.

While it is certain that the 32-year-old will be incarcerated, the duration of his sentence remains uncertain.

This development has reignited discussions about the gravity of his offenses and the appropriate punishment.

Bankman-Fried’s legal team has advocated for leniency, whereas prosecutors are pushing for a 40 to 50-year prison term.

They argue that such a lengthy sentence is warranted for someone who deceived investors and financial institutions, as well as embezzled billions from clients of his now-defunct cryptocurrency exchange, FTX.

His defense team has recommended a sentence ranging from five to 6.5 years, criticizing the government for advocating “a medieval perspective on punishment” by insisting on an extended prison term for a non-violent, first-time offender.

The matter has prompted a deluge of letters, totaling hundreds of pages, from former FTX customers, family members, friends of his parents, and even strangers, all seeking to sway Judge Lewis Kaplan, the federal justice tasked with determining his fate.

Sunil Kavuri, a British investor who held over $2 million in assets on the exchange at the time of its collapse, and one of the individuals rallying former customers to share their experiences with the court, remarked, “He has displayed no remorse, so why should any judge show any leniency?”

The collapse of FTX in 2022 marked a dramatic downfall for Bankman-Fried, who had risen to prominence as a billionaire and business icon while championing the firm. FTX was lauded as a platform where individuals could deposit and engage in cryptocurrency trading.