Soon, Mexico will likely become the world’s third country to legalize all aspects of cannabis production and all types of the plant’s use. In a series of columns, I explored whether the legalization was likely to deliver the promised advancement in civil liberties in Mexico and generate high tax revenues and legal incomes for farmers of illicit crops, also the negative environmental impacts of cannabis cultivation, including water depletion. In this column, I will examine whether cannabis legalization is likely to eliminate the black market, deprive violent criminal groups of money, and reduce criminal violence.
Bitcoin rallied back Monday as investors took advantage of the lowest levels in seven weeks to pile back in.
The largest cryptocurrency rose as much as 13% to above $54,000, the biggest intraday gain since early February.
The move comes as JPMorgan Chase & Co. is preparing to introduce an actively managed Bitcoin fund to some clients as soon as this summer, Coindesk reported, citing unidentified people familiar with the matter. The rebound reverses a two-week slump that had pushed Bitcoin below its 100-day moving average amid technical warnings from Wall Street and fears of a growing crypto bubble.
The bitcoin price, now hovering around $55,000 per bitcoin, is currently up almost double where it started 2021—with the wider cryptocurrency market riding its coattails to a total value of over $2 trillion.
Now, with a sudden weekend sell-off leaving bitcoin traders and investors reeling, JPMorgan analysts have warned that if the bitcoin price doesn’t regain ground above $60,000 soon, bitcoin’s momentum signals will collapse.
Bitcoin, the world’s biggest cryptocurrency, fell as much as 14% to $51,541 on Sunday, reversing most of the big gains it made over the past week.
Bitcoin was last trading down 10% at $53,991 as of 1320 GMT, a whopping $12,000 below record highs set on Wednesday. Smaller rival Ether , the coin linked to the ethereum blockchain network, dropped 10% to $2,101.
Data website CoinMarketCap cited a blackout in China’s Xinjiang region, which reportedly powers a lot of bitcoin mining, for the selloff.
Luke Sully, CEO at digital asset treasury specialist Ledgermatic, said in an email that people “may have sold on the news of the power outage in China and not the impact it actually had on the network”.
Bitcoin breached the $64,000 level for the first time as investor demand for all things crypto surged amid Coinbase Global Inc.’s public debut.
The direct listing of the biggest U.S. crypto exchange is seen pushing tokens even more into the mainstream of investing, exposing legions of potential buyers to the digital asset class that have grown into a $2 trillion industry in little more than a decade. Bitcoin, the original and biggest crypto coin, is valued at more than $1 trillion alone after a more than 800% surge in the past year.
When Aram Limsakul’s son and daughter came down with dengue fever two years ago, he gave the children, then aged five and four, a vaporiser to inhale the smoke from his own home-grown marijuana.
Within a few days, “their fever reduced, they stopped vomiting and ate for the first time in days”, he said.One of Thailand’s most prominent marijuana advocates, Aram grew up with cannabis in his backyard in the south of the country, and has been growing the plant since 1991. People far and wide have for decades been seeking his advice on using cannabis for a range of ailments.
Canopy Growth Corp. said Thursday it has reached an agreement to acquire Toronto-based Supreme Cannabis Co. Inc. in the latest M&A deal in a cannabis sector that is seeing a burst of activity amid hopes for reform of strict U.S. laws.
Canopy CGC CA:WEED said the stock-and-cash deal is valued at about C$435 million ($345.6 million). Supreme Cannabis SPRWF CA:FIRE shareholders will receive 0.01165872 of Canopy stock for each share owned, plus C$0.0001 in cash. That is equal to a premium of about 66% for Supreme Cannabis shareholders based on the closing prices of both stocks on the Toronto Stock Exchange on Wednesday.
By Joe Light
Even as cryptocurrencies steadily gain support on Wall Street, they’re still regarded by regulators as a tool for criminals to conceal shady transactions — posing a challenge to the nascent industry as it seeks to win wider respect.
That’s creating a potentially lucrative opportunity for new groups in Washington advocating for digital currencies. Some prominent crypto lobbying organizations say they’ve increased their membership and raised millions of dollars to help improve the industry’s image.
New York recently became the 15th U.S. state to legalize cannabis for recreational use.
While 67% of U.S. adults support marijuana legalization, public knowledge about cannabis is low. A third of Americans think hemp and marijuana are the same thing, according to the National Institutes of Health, and many people still search Google to find out whether cannabidiol – a cannabis derivative known as CBD – will get them high, as marijuana does.