Sign up Australia
Proactive Investors - Run By Investors For Investors

Daily CryptoCann Report: eToro expands US crypto exchange; Marijuana available in Girl Scout cookie flavors

eToro is expanding its US operations by starting its own cryptocurrency exchange and mobile wallet
Girl Scout cookies
Left Coast Connections offers Girl Scout cookie-flavored marijuana

It was another rough day for cryptocurrency with four of the top five coins in the red.

EOS (EOS-USD) was the top gainer of the day after being yesterday’s top decliner, rising less than a percent to US$12.77.

The top decliner of the day was Ripple (XRP-USD) falling more than 4% to US$0.68 followed by Bitcoin Cash (BCH-USD), which was down more than 2% to US$1,248.11.

Ethereum (ETH-USD) was down nearly 2% to US$694.18 while Bitcoin (BTC-USD) was down nearly 1% to US$8,263.49.

Wall Street heavyweight Brian Kelly and his independent investment firm BKCM LLC joined forces with ETF provider REX Shares to launch a blockchain-based exchange-traded fund. Its portfolio features 32 companies, including Inc (NASDAQ:OSTK) and SVB Financial Group (NASDAQ:SIVB).

READ: Wall Street star Brian Kelly partners with REX Shares to launch blockchain-based ETF

Social trading platform eToro will be expanding its US cryptocurrency operation, launching its own exchange and a mobile wallet for storage. There will be a waiting list for those interested, allowing crypto-enthusiasts to pre-register and test a live demo of the new services. The platform recently secured US$100mln in funding from SBI Group, Korea Investment Partners and The World-Wide Investment Company Limited.

The North American Marijuana Index, which tracks the leading cannabis stocks in the U.S. and Canada, was on the decline for the second straight day.

In a surprising bipartisan agreement, the US House Appropriations Committee passed what is known as the Joyce amendment, which protects medical marijuana patients and providers who comply with state law from being prosecuted by the federal government.

"I’d be remiss if I did not point out that recent polling from just last month shows 92% of the American people support the use of medical marijuana. In fact, even more voters from every political demographic oppose federal interference in state marijuana laws,” said Rep. David Joyce (R-OH) who proposed the provision.

Cannabis oil company Golden Leaf Holdings (CSE:GLH, OTCQB:GLDFF) has signed a letter of intent to acquire cannabis cultivation facilities in Nevada and California. The Toronto-based company would pay US$8.5mln in cash and a number of shares yet to be determined, but that would equal 25% of the total issued and outstanding shares of the company. Its brand Left Coast Connections offers a variety of flavored marijuana including Girl Scout cookie flavors like Thin Mint.

Join our Crypto, Blockchain and Cannabis Telegram group here
View full GLH profile View Profile

Golden Leaf Holdings Timeline

Related Articles

picture of cannabis plants
March 24 2018
Control of the supply chain offers operational advantages and financial benefits.
The biotech was founded by an investment group led by scientists and driven by a no-nonsense CEO whose stake is more than just business as usual
Cancer cells
June 27 2018
The Nottingham-based privately-owned company has made an impressive fist of developing the OMIS (Opto-magnetic Imaging Spectroscopy) cancer detection system

No investment advice

The information on this Site is of a general nature only. It does not take your specific needs or circumstances into consideration, so you should look at your own financial position, objectives and requirements and seek financial advice before making any financial decisions. You acknowledge and understand that neither the Company, its related bodies corporate, the information providers or their affiliates will advise you personally about the nature, potential value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter. You should read our FSG and any other relevant disclosure documents and if necessary seek persona advice prior to making any investment decision.

You understand and agree that no Content (as defined below) published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person.

You understand that in certain circumstances the Company, its related bodies corporate, the information providers or their affiliates may have received, or be entitled to receive, financial or other consideration in connection with promoting, and providing information about, certain entities on the Site and in communications otherwise provided to you.

You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate. From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.

Before you act on any general advice we provide, please consider whether it is appropriate for your personal circumstances.

© Proactive Investors 2018

Proactive Investors Australia PTY LTD ACN:132787654 ABN:19132787654.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use