DeFi faces stress test, DoJ fears flee on Binance, Hong Kong’s crypto trading: Hodler’s Digest, July 30 – Aug. 5

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DeFi faces stress test, DoJ fears flee on Binance, Hong Kong’s crypto trading: Hodler’s Digest, July 30 – Aug. 5

The decentralized finance (DeFi) ecosystem experienced a annoying week after a seismic security incident resulted in over $61 million being stolen from Curve Funds pools, leaving several protocols going thru broader contagion dangers. This assault exposed vulnerabilities throughout DeFi tasks and sparked efforts to enhance stolen funds over the previous few days, hammering the efficiency of tokens and even stablecoins as a results of the dramatic usaand downs in this story. Because the community navigates the aftermath of this exploit, Cointelegraph compiled the weeks events, presenting a timeline of what occurred for the reason that hack on July 30.

America Department of Justice is reportedly pondering charging cryptocurrency exchange Binance with fraud, however hesitating in response to costs to patrons. In step with contributors conversant within the topic, Justice Department officers are alive to on an indictment against Binance causing a flee corresponding to what occurred with FTX in November 2022. The officers are pondering fines or non-prosecution agreements for Binance rather than prison costs with a thought to nick encourage the injure to patrons. Binance has been targeted by a prison probe within the U.S. for allegedly violating the countrys sanctions on Russia and has also confronted proceedings from U.S. regulators.

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