What's up crypto fam, CoinMarketCap here! Uptober seems to be in full swing with FTX trying to make good on funds. While the damage is done, the pledge suggests this month could bring at least some positives.
With that being said, here is a TLDR of today’s news stories!
FTX engineer felt betrayed and suicidal after the financial collapse revelation from SBF
FTX claims it could refund over 90% of user funds if its plan gets approved
Lido shutting down Solana staking services due to unsustainably low fees amid market slump
Uniswap implementing 0.15% swap fees on certain tokens, upending the trademark fee-less model
In court, FTX's head engineer Nishad Singh talked about feeling "betrayed" after SBF revealed the exchange's dire finances before imploding. Singh even admitted being "suicidal" over the mess. Many employees were left shell-shocked after dedicating their talents to what they believed was an ethical vision.
FTX says it may refund over 90% of user funds after its billion-dollar blunder. Guess siphoning client money and then returning most of it makes everything A-OK? Of course, damage control is in high gear ahead of the court decision.
Lido is pulling the plug on Solana staking due to unsustainably low fees after a DAO vote approved the sunset. Guess the Solana slump is hitting protocols hard. While seemingly a prudent financial move, it's a bitter pill for SOL fans to see formerly aligned projects heading for the exits.
Some may argue it's disloyal to abandon ship when times get tough. Read the full story here!
