I guess that $4B settles everything and CZ won't be ending up behind the bars. Although we're not defending him as he admitted that he committed that he's part of the money laundering based on what I've read about this case.
While SBF, clearly spent and used people's fund and that's why he's convicted.
Well, saying that nobody was expecting that is a bit wrong. There was a lot of FUD around Binance and CZ. People suggested that they don't have all BTC that they claim to have, and were suspecting some other shady stuff. I'm not saying that it's true, but there were some suspicions that's for sure.
It's always like that for most projects that they end up being criticized for not having the actual back up for the amount that they're projecting to people.