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

The decentralized finance (DeFi) ecosystem experienced a challenging week after a seismic security incident led to over $61 million being stolen from Curve Finances pools, leaving several protocols facing broader contagion risks. This attack exposed vulnerabilities across DeFi projects and sparked efforts to recover stolen funds over the past few days, hammering the performance of tokens and even stablecoins as a result of the dramatic ups and downs in this story. As the community navigates the aftermath of this exploit, Cointelegraph compiled the weeks events, presenting a timeline of what happened since the hack on July 30.

The United States Department of Justice is reportedly considering charging cryptocurrency exchange Binance with fraud, but hesitating based on costs to consumers. According to people familiar with the matter, Justice Department officials are concerned about an indictment against Binance causing a run similar to what happened with FTX in November 2022. The officials are considering fines or non-prosecution agreements for Binance rather than criminal charges in an effort to reduce the harm to consumers. Binance has been targeted by a criminal probe in the U.S. for allegedly violating the countrys sanctions on Russia and has also faced lawsuits from U.S. regulators.