A four-month prison sentence and a hefty fine are the government's compensation for CZ's bad behavior at the cryptocurrency exchange. Regardless of how you view the sentence, whether it's too much, too little, or just right, his sentencing is a big problem for web3. Potentially in a positive way.
Efforts are underway in some parts of the cryptocurrency industry to promote blockchain technology, which has been well-documented for creating new gambling opportunities. Chris Dixon of a16z frames this in the term “computer vs casino”, which I think is reasonable.
Those who favor computers over casinos probably want the cryptocurrency market to be as consistent as possible with financial norms. why? That's because cryptocurrencies themselves sit very close to the larger global economy, which means the computing element of blockchain technology can shine, attract investment, and offer maximum use. If you're more on the casino side of the conversation (line go ups, meme coins, Bitcoin maximalism, etc.), you may not be a fan. After all, it would take holding more tokens as securities than many cryptocurrency proponents would like to get close enough to Tradfi and normal business operations for the Web3 computer to reach its full potential. You may end up doing so.
In any case, CZ's case is now closed. So is SBF. What will be the next chapter for cryptocurrencies?