What Happened in Crypto Today? [Oct. 18]

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 thefinancial 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
• Crypto custodian BitGo acquires wealth management software firm HeightZero to target RIAs

Now let’s unpack all that!

FTX Head Engineer Felt "Betrayed"

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 Vows to Return 90% Funds

FTX victims finally had some relief!

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 Ditches Solana

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.

Uniswap Implements Fees

DeFi darling Uniswap is implementing swap fees for the first time ever. Talk about the end of an era. This upends Uniswap's defining fee-less ethos maintained since launch. The change seems like a necessary step toward sustainability, but it may undermine Uniswap's trademark model in the name of short-term profits.

BitGo Acquires HeightZero

And that's a wrap for today! Check back tomorrow as CoinMarketCap keeps you plugged into the latest crypto events.

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