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CryptoCann™ Report: Goldman Sachs reportedly invests in BitGo; Congressman Blumenauer outlines plan to bring pot legalization to the US

Goldman Sachs and investor Mike Novogratz’s Digital Ventures have reportedly contributed around $15 million to BitGo’s Series B fundraising
Cannabis flag held outside the White House during a protest
Congressman Earl Blumenauer outlined his plan to legalize cannabis in a letter to the House of Representatives

The Crypto Report

Goldman Sachs Group Inc (NYSE:GS) was one of the first Wall Street heavyweights to bet on Bitcoin, introducing futures trading earlier this year.

In its latest step into crypto, the securities company and billionaire investor Mike Novogratz’s Digital Ventures have contributed around $15 million to BitGo’s Series B fundraising, as per a Bloomberg report.

READ: Xinyuan Real Estate is building a global real estate ̶ and blockchain ̶ empire

BitGo provides digital asset wallets with several safety checks in place, working to address concerns about secure storage.

The crypto company reportedly holds more than $2 billion in assets and raised a total of $70 million in fundraising rounds.

Cryptocurrency has its fair share of naysayers, but the underlying blockchain technology has caught the eye of some of the biggest companies in tech.

The American Accounting Association wants to make sure its members aren’t left in the dark about the emerging technology.

“We need to keep our minds open and continually consider how these technologies will impact the accounting profession and the world at large,” said AAA president Marc Rubin in an interview with Forbes.

The accounting organization plans to host a four-day intensive workshop this summer, which will include a track on blockchain technology.

The Cann Report

Canadians are still basking in the glow of cannabis legalization, lining up around the block at dispensaries or placing cannabis orders online for the first time as they celebrate the highly-anticipated day.

However, former Canadian Prime Minister Brian Mulroney is looking south, joining the board of New York-based cannabis company Acreage Holdings, as per a Marijuana Business Daily report.

Mulroney joins other political heavyweights like former US House Speaker John Boehner and former Massachusetts Governor Bill Weld.

IBM Corp’s (NASDAQ:IBM) former chief financial officer Douglas Maine and the former CEO of TW Telecom Larissa Herda are also board members.

READ: Pot primer: Your guide to legalized cannabis in Canada

Acreage Holdings plans to list on the Canadian Securities Exchange through the reverse takeover of Applied Inventions Management.

Mulroney will join the board in November after the takeover.

Cannabis legalization in up north has some wondering if the same is on the horizon for the US.

Congressman Earl Blumenauer (D-OR) is planning ahead, sending an eight-page letter to Democratic leadership in the House of Representatives outlining his plan to legalize cannabis if the Democrats retake the House after the midterm elections, as per a Forbes report.

"Congress is out of step with the American people and the states on cannabis," wrote Blumenauer. "We have an opportunity to correct course if Democrats win big in November. There’s no question: cannabis prohibition will end. Democrats should lead the way."

Blumenauer suggested that every standing House committee that has some say in marijuana policy should hold hearings within the first six months of the new Congress and address the issue with the help of experts.


Contact Lenore Fedow at [email protected]

Follow her on Twitter@LenoreMariee

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