The Crypto Report
Chipmaker Advanced Micro Devices Inc (NASDAQ:AMD) sold fewer graphics cards to cryptocurrency miners in its second quarter. The rise of cryptocurrency fueled the demand for its graphics cards, which can be used for crypto mining.
However, as fears of regulation rose, fewer miners purchased the cards. Graphics cards used by miners accounted for about 6% of overall sales compared with 10% in the previous second quarter.
READ: 360 Blockchain completes website acquisition deal, which will mean revenues in current quarter
In blockchain news, 360 Blockchain Inc (CSE:CODE, OTCMKTS:BKLLF) has completed its acquisition of two crypto websites. The company purchased ICORanker.com and BlockchainRanker.com in a US$1.75mln cash-stock deal.
"By adding these cash-flowing properties to the 360 family, we are diversifying our holdings and adding a high-growth business to our growing portfolio of blockchain assets,” said CEO George Tsafalas.
ICORanker lists the top initial coin offerings while Blockchain Ranker provides information and ratings of blockchain platforms.
The Cann Report
Across the pond, the UK government has approved the use of medical cannabis.
Patients will be able to receive a prescription as early as this fall after a review by the Advisory Council on the Misuse of Drugs found that doctors should be able to prescribe medicinal cannabis as long as the products are up to safety standards, according to a report by The Independent.
The decision is “in no way a first step to the legalization of cannabis for recreational use,” said Home Secretary Sajid Javid in a statement. Possession of marijuana will still carry an unlimited fine and up to five years in jail.
READ: Daily CryptoCann™ Report: Coinbase users can turn crypto into e-gift cards; Aurora Cannabis to offer employees medical marijuana coverage
Up north, researchers at the University of Toronto found that synthetic THC, the euphoric component of marijuana, may be able to help patients with dementia, according to a High Times report. The initial trial involved 39 patients with moderate to severe dementia and studied the use of nabilone, a synthetic form of THC that comes in a capsule.
“We’re excited because we think this opens a whole new door for cannabinoids as a group for treating agitation in Alzheimer’s disease,” said Krista Lanctot, the professor conducting the study, in the interview with High Times.
While the trial was focused on reducing agitation, the results showed that not only did it reduce that aspect of the disease but also reduced pain, slowed weight loss and improved appetite.