The following events occurred in the crypto market today:

1: Former FTX executive faces cross-examination by SBF defense team

On October 17, lawyers for Sam Bankman-Fried cross-examined former FTX engineering director Nishad Singh, who admitted that “there were a lot of things he didn’t remember” during his time at the failed cryptocurrency exchange.

2: XRP community says Ripple job posting hints at possible IPO

Fintech payments company Ripple posted a new job posting on October 16 for a Senior Manager of Shareholder Communications at multiple locations in the United States and abroad. The job posting prompted many cryptocurrency enthusiasts to label it an official hint of the company’s plans to go public.

The job posting states that the position requires direct communication with shareholders — a concept typically associated with public companies. The selected candidate will be responsible for developing and implementing communications and relationship management strategies for "existing and potential investors, existing shareholders and financial analysts."

The job description emphasizes that candidates will need to develop strategic plans specifically tailored to situations such as "mergers and acquisitions, investments, liquidity events and other high-impact moments."

3: FTX clients could receive $9B in gap claim payouts by mid-2024

Customers of bankrupt cryptocurrency exchanges FTX and FTX US could see more than 90% of their assets returned by mid-2024 following a proposed settlement between FTX’s creditors and debtors.

4: Fidelity files updated version of Bitcoin spot ETF prospectus

A public regulatory filing shows that Fidelity has submitted an updated version of the Bitcoin spot ETF prospectus to the SEC, covering details of custody arrangements, hard fork-related mechanisms, valuation and pricing sources and GAAP compliance, and surrounding regulations. The risk of uncertainty is disclosed and the energy-consuming nature of mining is mentioned.

5: Immutable X Lianchuang: Extend the unlocking period of 125 million IMX tokens for another year

Robbie Ferguson, co-founder of Immutable X, an NFT second-layer expansion solution, said on the X platform that last year he promised to re-lock the 125 million IMX allocated for the development of the Immutable project for one year. After a few weeks, these tokens will be unlocked, and now it has been announced that this allocation will be re-locked again until at least July 2024.

6: Fantom Foundation: About US$550,000 of foundation funds have been affected, and most of the funds are still safe.

The Fantom Foundation issued a statement regarding the wallet attack, stating that it can currently confirm that a small number of wallets have been affected, including approximately $550,000 in Fantom Foundation funds. The vast majority of Fantom Foundation funds (over 99%) are unaffected and remain safe. While there are initial reports that the attack is due to a zero-day vulnerability in Google Chrome, the team is actively investigating the attack mechanism. Some of the affected wallets were labeled "Foundation Wallets," but they are no longer used by the organization and have been reassigned to a Fantom employee, so this is a personal attack. The employee's lost funds are currently being traced and investigated.

7: Reddit shuts down the blockchain-based community points program, and Reddit community tokens plummeted across the board

Social media platform Reddit will shut down its blockchain-based community points program on November 8, CoinDesk reported. Reddit said that while there are some opportunities with the program, the resources required are too high. The team has already launched or is actively investing in some products that are easier to adopt. Additionally, changes in the regulatory environment have exacerbated this dilemma. Affected by this news, the price of Reddit community tokens plummeted. Among them, Moons (MOON) fell 85%, Bricks (BRICK) fell 67%, and Donut (DONUT) fell 66%.

8: Immutable X Lianchuang: Extend the unlocking period of 125 million IMX tokens for another year

Robbie Ferguson, co-founder of Immutable X, an NFT second-layer expansion solution, said on the X platform that last year he promised to re-lock the 125 million IMX allocated for the development of the Immutable project for one year. After a few weeks, these tokens will be unlocked, and now it has been announced that this allocation will be re-locked again until at least July 2024.