Kernel panic

You will need to let the laptop finish decrypting the drive. With a laptop you must have the charger connected in order for the decryption process to finish. Try booting into Safe Mode to see if that allows you to boot the laptop without a Kernel Panic as this disables third party software from running automatically at boot & login. Then let the laptop finish decrypting. FYI, Filevault is rarely the reason for problems.

Software issues and hardware issues are the most likely reason for Kernel Panics.

What is the exact model of the laptop & OS? You can get this information by clicking the Apple menu and selecting "About This Mac". If the laptop cannot boot, then enter the system serial number here:

Check Your Service and Support Coverage - Apple Support

Do you have any backups? Having backups minimizes the risk of data loss.

If you have access to another Mac (preferably running the same or later OS), then you can try putting this Mac into Target Disk Mode to attempt to access the data from the other Mac. If we know the exact model of the laptop, then we may be able to provide other options to access the data.

You can try running the Apple Diagnostics to see if any hardware issues are detected.

Also disconnect all external devices in case one of them is causing a problem.

You should always have frequent and regular backups of your computer and all external media (including the cloud) which contains important & unique data.

Bro, you have a faulty logic board. no matter how much you research and trying to find a solution, it will not matter. I had to same issue where my iMac would keep rebooting due to a kernel panic. I've tried everything from wiping out my entire hard drive with no luck. if it is still under warranty, you need to take it in.

After they replaced my logic board back in feb, I haven't had a single kernel panic and I had shut it down maybe 3 times max.

hope this helps. good luck

Just to add one important point to HWTech's excellent reply, be sure to jot down the time when your Mac experiences a kernel panic. This will come in very handy when attempting to analyze the system log files for troubleshooting the cause.