Sign up USA
Proactive Investors - Run By Investors For Investors

Daily CryptoCann Report: Women’s interest in crypto doubles; WeedMD Inc receives its cultivation license

A study by the London Block Exchange shows the rise in the number of women interested in crypto trading
One in eight women would invest in digital currency

The Crypto Report

It was a wild weekend for cryptocurrency and it’s carried over into the week with all the top five coins in the red.

EOS (EOS-USD) was the top decliner, down nearly 2% to US$10.80.

Ripple (XRP-USD) was down about 2% to US$0.57 followed by Bitcoin Cash (BCH-USD), down 1.5% to US$923.42.

Ethereum (ETH-USD) fell to US$521.36 while Bitcoin (BTC-USD) was down to US$6,734.29, both falling nearly 1%.

Crypto markets saw a sharp decline over the weekend after the US Commodity Futures Trading Commission launched an investigation into four crypto exchange. The CFTC will look into Bitstamp, Coinbase, itBit and Kraken to see if manipulative trading has taken place to alter the price of BTC futures.

South Korean exchange Coinrail was also involved in an alleged hacking attempt. More than US$40mln worth of cryptocurrency is estimated to have been stolen, according to a TechCrunch report.

Coinrail has not announced how or if it will reimburse its customers.

The cryptoverse has been debating it was the hacking of the small exchange or the CFTC’s investigation that prompted the 10% decline in Bitcoin over the weekend.

The number of women interested in cryptocurrency has doubled in the last six months, according to research by the London Block Exchange. One in eight women, or about 13%, would invest in crypto compared with 6% at the end of last year.

“There’s still a common misconception that cryptocurrency is a game for men, but we’ve seen hundreds of women sign up for our exchange in the last few months and some of the most inspiring and knowledgeable investors, leading the way in the industry are female,” said Agnes de Roeyer, senior business analyst at London Block Exchange in a report by City AM.

The study found that women were more likely to invest strategically and consult family and friends before investing while men were more likely to invest for fear of missing out on an asset and tended to approach investing solo.

The research did not see any significant growth in interest among men.

Regardless of gender expression, crypto enthusiasts won’t be able to use their Apple Inc (NASDAQ:AAPL) devices for mining. The App store’s review guidelines now explicitly ban on-device mining.

Apps that facilitate initial coin offerings or any crypto-related securities must come from “established banks, securities firms, futures commission merchants, or other approved financial institutions,” according to an Apple Insider report.

The Cann Report

The North American Marijuana Index, which tracks the leading cannabis stocks in the U.S. and Canada, saw a slight rise today of more than 1%.

Several medical cannabis companies in Michigan were supposed to receive an update on their state license applications but will now have to wait another month. The Michigan Medical Marijuana Licensing Board announced on Friday that it was canceling its Monday meeting and will not meet again until July 12, according to a report by the Detroit Free Press.

More than 200 businesses have applied for a license and more than 500 have applied for prequalification. State regulators have yet to issue a license to any of the companies waiting.

WeedMD Inc (CVE:WMD) can begin growing in its new greenhouse in Ontario after receiving its cannabis cultivation license from Health Canada. The medicinal marijuana company will now have a total of 20 grow rooms.

Once the 610,000 square foot facility is fully retrofitted, it could possibly produce more than 50,000 kg of marijuana annually. Shares of the Toronto-based company jumped more than 4% to C$1.86.

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

WeedMD Inc. Timeline

Related Articles

August 28 2018
Tidal Royalty provides capital to help grow licenced US cannabis firms in exchange for receiving a percentage of future top-line revenues.
October 10 2018
Management behind ICC International Cannabis Corp has a clear buy, build and sell strategy

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 understand that the Company receives either monetary or securities compensation for our services. We stand to benefit from any volume this write-up may generate.

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.

Copyright ©, 2018. All Rights Reserved - Proactive Investors North America Inc., Proactive Investors LLC

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