Metus vulputate eu scelerisque felis. Nulla facilisi cras fermentum odio eu. Scelerisque fermentum dui
faucibus in ornare quam viverra orci sagittis. A iaculis at erat pellentesque adipiscing commodo elit. In
fermentum et sollicitudin ac orci. Ultrices sagittis orci a scelerisque purus. Faucibus ornare
suspendisse sed nisi lacus sed viverra tellus in. Mauris cursus mattis molestie a iaculis at erat
pellentesque adipiscing. Volutpat diam ut venenatis tellus in metus vulputate. Eu consequat ac felis
donec et odio pellentesque. Eu mi bibendum neque egestas congue quisque egestas diam. Quam
lacus suspendisse faucibus interdum posuere lorem. Quam id leo in vitae. Ut faucibus pulvinar
elementum integer enim neque. Id ornare arcu odio ut sem nulla pharetra diam sit. Molestie ac feugiat
sed lectus vestibulum mattis. Ipsum nunc aliquet bibendum enim facilisis. Euismod nisi porta lorem
mollis aliquam ut porttitor.
Iaculis nunc sed augue lacus viverra vitae congue eu consequat. Gravida neque convallis a cras.
Nunc scelerisque viverra mauris in aliquam sem. Non odio euismod lacinia at quis risus sed vulputate
odio. Purus faucibus ornare suspendisse sed. Turpis egestas maecenas pharetra convallis posuere
morbi. Nec feugiat nisl pretium fusce id velit ut. Nunc congue nisi vitae suscipit tellus mauris a diam.
Posuere sollicitudin aliquam ultrices sagittis orci. Urna nec tincidunt praesent semper. Turpis nunc
eget lorem dolor sed viverra.
suspendisse sed nisi lacus sed viverra tellus in. Mauris cursus mattis molestie a iaculis at erat
pellentesque adipiscing. Volutpat diam ut venenatis tellus in metus vulputate. Eu consequat ac felis
donec et odio pellentesque. Eu mi bibendum neque egestas congue quisque egestas diam. Quam
lacus suspendisse faucibus interdum posuere lorem. Quam id leo in vitae. Ut faucibus pulvinar
elementum integer enim neque. Id ornare arcu odio ut sem nulla pharetra diam sit. Molestie ac feugiat
sed lectus vestibulum mattis. Ipsum nunc aliquet bibendum enim facilisis. Euismod nisi porta lorem
mollis aliquam ut porttitor.
Iaculis nunc sed augue lacus viverra vitae congue eu consequat. Gravida neque convallis a cras.
Nunc scelerisque viverra mauris in aliquam sem. Non odio euismod lacinia at quis risus sed vulputate
odio. Purus faucibus ornare suspendisse sed. Turpis egestas maecenas pharetra convallis posuere
morbi. Nec feugiat nisl pretium fusce id velit ut. Nunc congue nisi vitae suscipit tellus mauris a diam.
Posuere sollicitudin aliquam ultrices sagittis orci. Urna nec tincidunt praesent semper. Turpis nunc
eget lorem dolor sed viverra.
lacus suspendisse faucibus interdum posuere lorem. Quam id leo in vitae. Ut faucibus pulvinar
elementum integer enim neque. Id ornare arcu odio ut sem nulla pharetra diam sit. Molestie ac feugiat
sed lectus vestibulum mattis. Ipsum nunc aliquet bibendum enim facilisis. Euismod nisi porta lorem
mollis aliquam ut porttitor.
🌅 Welcome!
SBF will testify to the U.S. House Committee on Financial Services tomorrow. Meanwhile, Binance responds to a recent Reuters report about an ongoing Justice Department investigation.
Today, we take a look at GMX’s recent outperformance while our Media team outlines the 20 things you need to know about the FTX saga.
This is the Delphi Daily. Let’s dive in.
🚨 In Case You Missed It
- SBF will testify to the U.S. House Committee on Financial Services tomorrow.
- FTX bankruptcy CEO, John Jay‘s testimony to the Financial Services Committee is revealed.
- Binance responds to Reuters’ report about an ongoing Justice Department investigation.
- Bermuda-based Jewel Bank is releasing a fully-backed stablecoin on Polygon.
📊 GMX Outperforms As It Approaches An All-Time High
- Despite bearish market conditions, GMX has significantly outperformed its peers. The token is up 59% in the last 30 days.
- In the same period, GNS (+5%), PERP (-9%), DYDX (-24%), and FST (-34%) have underperformed considerably. Currently, GMX is just 8% away from an all-time high. The token is approaching an all-time high for the third time in the last year.
- While some of this can be attributed to the erosion of trust in centralized exchanges after the FTX collapse, GMX has continued to attract unique users and increase volume and open interest.
- The GMX token has a strong value accrual mechanism where staked GMX holders earn 30% of protocol fees as well as multiplier points that boost APRs when staked. Users who stake on Arbitrum ETH while those on Avalanche earn AVAX.
⚡ The FTX Saga: 20 Things You Need To Know
- In November 2022, the crypto exchange FTX filed for bankruptcy. In the aftermath, there are accusations of fraud, ongoing contagion, and $10 billion missing.
- In this video, we break down the 20 things about the FTX saga, so you can know exactly what happened.
- For more on the FTX collapse, Delphi members can read our Delphi Pro report here.
🐣 Notable Tweets
Cumberland’s Crypto Outlook
After a very busy month, price action is consolidating. Given the nature of crypto and the tectonic shifts occurring beneath it, we do not expect this paradigm to last 🧵👇🏼
– Cumberland (@CumberlandSays) Dec 12, 2022
SBF’s Twitter Spaces Recap
Sam is currently live on @unusual_whales Twitter Spaces. We will be livetweeting below.
– Autism Capital (@AutismCapital) Dec 12, 2022
