Analysis: SBF is only facing two substantive charges and is expected to receive a sentence of approximately 10 to 20 years.

According to a report by BlockBeats on September 25, in the trial of FTX founder Sam Bankman-Fried (SBF), only two of the seven charges he faced were "substantive" charges, namely "wire fraud against FTX customers" and "wire fraud against Alameda Research lending institutions." This means that the US Department of Justice accused SBF himself of actively committing these crimes. The remaining five charges are "conspiracy" charges, which means that the US Department of Justice accused him of planning to commit crimes with at least one other person. Unlike "substantive" charges, "conspiracy" charges do not need to prove that the crime actually occurred. For "conspiracy" charges, the US Department of Justice must eliminate reasonable doubt and prove that at least two people "agreed to commit fraud" and took public action to do so. Jordan Estes, a partner at Kramer Levin, said that the Department of Justice may try to simplify the case as much as possible so that the jury can focus on the lies and fraud SBF was involved in, but SBF's defense team could prove that he did not intend to commit fraud, and he may be acquitted. Initially facing eight charges (one of which was later dropped), SBF could face a total of 115 years in prison. Although some media outlets have said that SBF may spend over 100 or 150 years in prison, if convicted, he is unlikely to spend that much time in prison. First, even if there are multiple convictions, these sentences are more likely to be served concurrently rather than consecutively. Several lawyers have said that considering the severity of the crimes and expected losses, if SBF is convicted, he may spend about 10 to 20 years in prison.