This is CoinDesk Daily. I'm your host, Jen Sanassi.

FTX Engineering Director Nishad Singh's lawyers have asked a federal judge to spare him

prison in a sentencing submission document filed with the U.S. Southern District of New York

on October 16th. The filing describes saying as an uncommonly selfless individual

and includes more than 100 letters from family, friends, and former colleagues,

saying pled guilty to six criminal charges, including fraud and conspiracy.

Blockchain lending protocol, Radiant Capital, lost more than $50 million on Wednesday as the result of an apparent cyber attack.

An attacker allegedly gained control of the protocol's contracts by obtaining three of the 11 private keys that control the protocol, according to security experts.

The firm said the exploit allowed attackers to drain users' funds, namely USDC, WBMB, ETH, and others.

It's the second time this year that the protocol has been targeted in an exploit.

In January, Radiant lost $4.5 million in an underlaying hack stemmed from a bug in its smart contracts.

And Italy is raising capital gains taxes on crypto currencies. That's according to a report from Reuters and Bloomberg.

The Italian government will raise taxes on capital gains from crypto to 42% from the previous

26%.

Mauritio Leo, the country's deputy finance minister, spoke up about Bitcoin during a conference

call. He said, phenomenon is spreading. The move comes as Italy decided to strengthen its

digital services tax as part of plans to raise more revenues in the 2025 budget.

That's a wrap for CoinDest Daily. Get the latest updates on CoinDesk.com.