Sign up United Kingdom
Proactive Investors - Run By Investors For Investors

CryptoCann™ Report: Facebook exec leaves Coinbase board; California dispensary and chicken joint create the ‘Happiest Meal’

Exec David Marcus will step down from the exchange's board to focus on Facebook's blockchain technology
Chicken sandwich
The Bird is serving customers a fried chicken sandwich meal with a coupon for Hi-Fidelity Cannabis Shop

The Crypto Report

Facebook Inc’s (NASDAQ:FB) vice president of messaging products David Marcus will be stepping down from the board of Coinbase.

Marcus will be leaving the popular exchange’s board to work on Facebook’s blockchain strategy, as per a Coindesk report.

A Coinbase spokesperson said the decision was made in order to avoid a conflict of interests.

The social media giant has set up a team to explore the technology. Marcus had mentioned in past remarks that it would possibly be applied to sending crypto payments through its Messenger app.

A goal for some in the crypto community is to bring financial liberty to people in countries where access is limited by either access to the internet or lack of the necessary expensive hardware. Intuit Inc (NASDAQ:INTU) may have a solution in the works.

The software powerhouse has been awarded a patent for processing Bitcoin payments via text, as per a Cointelegraph report.

The patent filing details the ins and outs of how the service would work as well as what could be done to validate the transactions. Possible options included a password system or voice call verification.

The patent was filed in 2014 around the time its tax service QuickBooks teamed up with BitPay, creating a PayByCoin service to allow invoices to be paid in Bitcoin, according to Cointelegraph.

READ: Bitcoin and cryptos hit as SEC stalls on ETF decision

In other Bitcoin news, a technical analyst outlined what the end of the line may look like for Bitcoin.

Jeff DeGraff, the head tech analyst at Renaissance Macro Research, said he would bet against Bitcoin if it broke through its key year-to-date support level, as per a CNBC report.

DeGraaf warned that parabolic moves are a nightmare for short-sellers.

“Usually a top develops that often appears as a descending triangle over months, with reduced volatility and little [fanfare]," wrote DeGraaf "Once the top is complete on the support violation, the security in question can often be considered permanently impaired or even 'game‐over'.”

Bitcoin is down 13.5% this week, as per Coinbase charts.

The Cann Report

Two major cannabis companies just inked a supply deal.

Cronos Group Inc (NASDAQ:CRON) entered into a supply agreement with Cura Cannabis Solutions’ Canadian subsidiary, Cura Select Canada Ltd.

The deal will help Oregon-based Cura, a manufacturer of cannabis and hemp oil, to expand into the Canadian market.

"Cura's partnership with Cronos marks a significant step in our mission to be the leading provider of cannabis oil to legal U.S. and international markets," said CEO Cameron Forni in the company’s press release.

As per the deal, the company signed a five-year agreement with Cronos to purchase a minimum of 100,000 kg of cannabis.

READ: CryptoCann™ Report: IBM and Maersk add 94 companies to blockchain platform; Lyft offers fare credits to combat driving while high

In other West Coast news, a California dispensary and a local restaurant have teamed up to create the “Happiest Meal”, a play on McDonald’s Corporation (NYSE:MCD) iconic kids’ meal, as per a Leafly report.

The Bird restaurant is serving customers a fried chicken sandwich, curly fries and a beer for US$12.50 as well as a coupon redeemable at Hi-Fidelity Cannabis Shop just a block away.

The pre-roll coupons will only be available to the first 100 customers.

In turn, customers at the dispensary who purchase any eighth-ounce of flower will receive a coupon for free curly fries and a beer with the purchase of any sandwich at The Bird.

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

Related Articles

Top-level domains
October 11 2018
In its interims, management undertook a full review of historic legacy agreements that led to a final US$721,000 final restructuring payment made against one agreement and an onerous contract provision on another resulting in a one-time write down for future expected losses of US$7mln with an associated US$4.1mln reduction in intangible assets to US$81.5mln.
Trading screen
June 13 2018
Following a root and branch overhaul, the company is setting its sights firmly on a SaaS business model as it reconnects with its technology pedigree
Mergers & acquisitions - takeover
January 11 2018
"Vermeg's acquisition of Lombard Risk will create a leading global financial software provider," said Badreddine Ouali, founder and chairman of Vermeg

No investment advice

The Company is a publisher. You understand and agree that no content 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 further understand that none of the information providers or their affiliates will advise you personally concerning the nature, potential, advisability, value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter.

You understand that the Site may contain opinions from time to time with regard to securities mentioned in other products, including company related products, and that those opinions may be different from those obtained by using another product related to the Company. You understand and agree that contributors may write about securities in which they or their firms have a position, and that they may trade such securities for their own account. In cases where the position is held at the time of publication and such position is known to the Company, appropriate disclosure is made. However, you understand and agree that at the time of any transaction that you make, one or more contributors may have a position in the securities written about. 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.

© Proactive Investors 2018

Proactive Investors Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.

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