4 months... must be a joke. It is probably just a warning to the other exchange and casino owners. (and theymos lol)
A real joke. I think the US government was more interested in getting money from Binance and nothing more. The sentence is just to deceive the public that Changpeng Zhao also faced physical punishment. I have seen people suffer stiffer punishments for lesser offenses. Maybe it I a warning for others to keep finds aside for settlement when the government comes for them.
But, my money in binance is safe right?
Sorry got a bit panic when i saw this thread and since i can't access my wallet right now, i'm just making sure everything is alright.
It is risky to keep large sums in exchanges. You can use them for trading but they are ideal places to keep your funds for a long. They are controlled by individuals who can mismanage funds which could make them go bankrupt. The platform could also be seized at any time since they are centralized. It is better to keep your coins in an open-source noncustodial wallet.