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Daily CryptoCann Report: Amazon Web Services partners with blockchain start-up; NYC to change marijuana enforcement

Last updated: 15:33 15 May 2018 EDT, First published: 15:11 15 May 2018 EDT

Cryptocurrency coins
EOS saw the sharpest drop of the top five coins

It was a tough Tuesday for cryptocurrency with the top five coins showing red.

EOS (EOS-USD) was the top decliner for the second straight day, falling nearly 8% to US$12.75.

Bitcoin Cash (BCH-USD) was the second-largest decliner, falling more than 4% to US$1.353.48, followed by Ripple (XRP-USD), which was also down more than 4% to US$0.70.

Ethereum (ETH-USD) fell nearly 3% to US$709.61 while Bitcoin (BTC-USD) was down nearly 2% to US$8.501.57.

Amazon Web Services (NASDAQ:AMZN), the e-commerce giant's cloud computing segment, announced a partnership with fintech start-up Kaleido to make blockchain technology accessible to more companies.

Cryptocurrency market Coinbase has set its sights on institutional investors, introducing four new products to help transition from traditional markets. An exclusive platform called Coinbase Prime will be made available to institutional investors.

The North American Marijuana Index, which tracks the leading cannabis stocks in the U.S. and Canada, fell less than a percent.

CV Sciences was a top gainer on the index after the drug developer released positive first-quarter earnings, doubling its yearly sales and increasing its distribution. The company offers CBD oil in a variety of flavors, including peppermint and goji berry. Shares of the company were up nearly 16% to US$0.96.

Finally, New York City is contemplating a change in the way police enforce marijuana laws after a New York Times story showed a racial gap in arrests. Mayor Bill de Blasio announced that the NYPD is now working on a plan to lower the number of marijuana-related arrests.

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