The Crypto Report
A recent report from the New York State Attorney General Barbara Underwood’s office found that cryptocurrency exchanges are vulnerable to market manipulation and don’t provide consumers with the same level of protection as other financial markets.
Leaders in the cryptoverse found fault with the report, pointing to New York State’s troubled relationship with cryptocurrency, a per a CoinDesk report.
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Jesse Powell, the founder of the US exchange Kraken, likened the situation to a bad relationship.
NY is that abusive, controlling ex you broke up with 3 years ago but they keep stalking you, throwing shade on your new relationships, unable to accept that you have happily moved on and are better off without them. #getoverit https://t.co/DC5S1WyRnp
— Jesse Powell (@jespow) September 19, 2018
Shapeshift CEO Erik Voorhees warned the state that it could lose its position as the center of global finance if it doesn’t adapt to the changing environment.
And those kinds of people never seem to realize their behavior is what led to the breakup... NY is going to lose its position at the head of global finance if it doesn't change soon. Keep up the good work @jespow https://t.co/74CVAfivis
— Erik Voorhees (@ErikVoorhees) September 19, 2018
There are some institutions in New York warming up to the worlds of cryptocurrency and blockchain.
New York University’s Stern School of Business will offer students the opportunity to major in blockchain technology, as per a CBS New York report.
“We hope to establish a groundwork so that the students can understand what’s really happening under the hood, so that they can understand both the legal and the business implications, and prepare them to go out and tackle this new market,” said Professor Andrew Hinkes in an interview with CBS.
The university expects companies in the space to partner with students in the training program.
It may be a good thing that college students can study blockchain technology.
In an interview with CNBC, Christian Lanng, CEO of supply chain payment start-up Tradeshift, said the technology in its current state can’t support the global supply chain.
"Whenever people say blockchain, I think what they're really saying is they would like to connect things digitally," said Lanng. "I don't think blockchain is a mature enough technology yet to carry that ... I also want to be a little bit cautious for some of the hype."
For the moment, Lanng said the technology is too expensive and too difficult to build and scale.
The Cann Report
Legalization is swiftly approaching in Canada and cannabis companies are gearing up for the possibilities that may bring.
Cronos Group (NASDAQ:CRON, TSX:CRON) is partnering with medical cannabis company Aleafia Health Inc (OTCMKTS:ALEAF) to study the effect of cannabis on insomnia.
Licensed medical cannabis producer Peace Naturals Project Inc, which is wholly-owned by Cronos, has funded the study.
The companies hope that medical cannabis can be an alternative to addictive sleep aids.
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There are many cannabis companies utilizing their best and brightest minds to explore the potential of cannabis in the pharmaceutical space, treating everything from depression to cancer.
Then, there are businesses using cannabis to get lobsters high.
Charlotte’s Legendary Lobster Pound in Southwest Harbor, Maine has been sedating its lobsters by blowing marijuana smoke into their enclosures hoping to give the crustaceans a more humane death, as per a local report by Mount Desert Islander.
“I feel bad that when lobsters come here there is no exit strategy,” said owner Charlotte Gill, who has a state-issued medical marijuana license. “I’ve really been trying to figure out how to make it feel better.”
Gill said she doesn’t believe the practice infuses the lobster with THC and clarified that she is not selling edibles.
Animal rights group PETA, or People for the Ethical Treatment of Animals, wasn’t impressed.
“It is highly unlikely that getting a lobster high would make a lick of difference when it comes to the full-blown agony of being boiled or steamed alive,” said PETA in a statement to Marijuana Moment.
The restaurant owner first tried it out on a lobster named Roscoe and said she saw a significantly calmer lobster, even removing the rubber bands around his claws.
Roscoe was released back into the ocean as a thank you for participating in Gill’s experiment.