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CryptoCann™ Report: Shark Tank's Kevin O’ Leary invests in Bitcoin app; NFL great Tiki Barber launches cannabis investment firm with social justice focus

Former NFL player Tiki Barber's cannabis investment firm takes note of the disproportionate number of minority communities affected by misdemeanor drug charges

Kevin O'Leary
'Mr Wonderful' invested in Bundil, a Bitcoin app that allows users to invest spare change in crypto

The Crypto Report

Bitcoin investing app Bundil welcomed well-known investor Kevin O’ Leary of CNBC’s Shark Tank.

Bundil allows users to invest their spare change in cryptocurrency, an appealing option to an investor grappling with cautiousness and curiosity. The service cost US$3 per month or US$24 annually.

“I thought, ‘Man, you know, anyone that’s trying to invest in cryptocurrency has to go through all these steps to try to figure out how to buy it. And I thought there could be an easier way for it to be done,” said Love on Shark Tank.

App creator Dmitri Love exchanged a 50% stake in his company in exchange for US$100,000 from the shark, as per a CCN report.

READ: Intercontinental Exchange’s crypto platform Bakkt to begin Bitcoin futures trading in December

Intercontinental Exchange Inc (NYSE:ICE), the parent company of the New York Stock Exchange, sent a buzz of excitement through the cryptoverse after announcing the launch date for Bitcoin futures on its crypto trading platform Bakkt.

ICE’s release said trading is set to begin on December 12, but a source told crypto news site The Block that it may begin even sooner.

Bakkt may receive regulatory approval the Commodities Futures Trading Commission as early as next week, according to the report.

The Chicago Mercantile Exchange and the Chicago Board Operations Exchange launched Bitcoin futures in December 2017.

The Cann Report

Cannabis legalization has been celebrated by pot proponents, but some observers have noted that while cannabis companies are profiting from the drug, US prisons are full of people charged with minor marijuana convictions.

Former New York Giant Tiki Barber has launched Group Grove Management, a cannabis investment firm with a focus on social justice.

READ: MGX Minerals set to team up with tech group Braingrid to help cannabis growers save energy

"A disproportionate number of minority communities are affected by misdemeanor marijuana offenses," said Barber in an interview with Forbes. "So while we will make investments and help grow businesses and take advantage of this space, we’re also keeping in mind that there’s this huge opportunity to change the criminality of marijuana not to a criminal justice system but to a health reform system."

Group Grove Management said it plans to recruit minorities to the business and has received sponsorship from the National Minority Business Council.

Comedian Jim Belushi is another famous face in the cannabis space.

The former Saturday Night Live actor operates Belushi’s Farm, a cannabis farm spread across more than 90 acres in southern Oregon.

“It's so beautiful, I feel like myself there,” said Belushi in an interview with NBC KGW8. “From the Rogue River comes a perfect pH to feed the plants.”

His brand Belushi’s Private Vault offers a total of 6 marijuana strains, including a cherry pie flavor.

Belushi plans to compete in a cannabis competition known as the Oregon Dope Cup on Sunday.

 

Contact Lenore Fedow at [email protected]

Follow her on Twitter@LenoreMariee

 

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