I think CZ got away with a very modest sentence (if that's the total sentence, based on all charges), good for him. That makes it seem that the crime wasn't a big deal, which can also be good for the reputation of Binance.
It was actually a big deal because it's money laundering but with fame, money and influence, the sentence was lessened down and also where the charges against Binance were settled down with a hefty fine wherein that's became basis of many other countries where Binance operates. Anyway, Binance and CZ got away with it and so if he gets out of it, the sins were already paid for by him and his company and whatever his next moves, we'll see.
But CZ being in prison doesn't mean that Binance will stop working (especially when we're talking about the global exchange) or that people wouldn't be able to use the funds they have there. I'm all for self-custody and I don't keep funds on exchanges, but I'm just pointing out that this particular news on CZ probably doesn't affect the money on the exchange.
We shouldn't keep our funds even on Binance. But CZ is not anymore connected to Binance in paper because it's Richard Teng that has replaced him as the CEO of the company. But we do not know how the things in paper does with these kind of positioning but I'm pretty convinced that he's still connected to them even if there's this succession and resignation that has been announced before.