How Crypto Can Help the Nascent Cannabis Industry

The Breakdown

Blockworks

Business, Investing

4.8 • 806 Ratings

🗓️ 24 April 2022

⏱️ 13 minutes

🔗️ Recording | iTunes | RSS

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Summary

This episode is sponsored by Nexo.io, Arculus and FTX US. On this edition of “Long Reads Sunday,” NLW reads: Cannabis and Crypto - Brett Harrison Bitcoin is boring? - Jurrien Timmer Morgan Stanley on Lightning - Alex Gladstein - From cash to crypto in no time with Nexo. Invest in hot coins and swap between exclusive pairs for cash back, earn up to 17% interest on your idle crypto assets and borrow against them for instant liquidity. Simple and secure. Head on to nexo.io and get started now. - Arculus™ is the next-gen cold storage wallet for your crypto. The sleek, metal Arculus Key™ Card authenticates with the Arculus Wallet™ App, providing a simpler, safer and more secure solution to store, send, receive, buy and swap your crypto. Buy now at amazon.com. - FTX US is the safe, regulated way to buy Bitcoin, ETH, SOL and other digital assets. Trade crypto with up to 85% lower fees than top competitors and trade ETH and SOL NFTs with no gas fees and subsidized gas on withdrawals. Sign up at FTX.US today. - Consensus 2022, the industry’s most influential event, is happening June 9–12 in Austin, Texas. If you’re looking to immerse yourself in the fast-moving world of crypto, Web 3 and NFTs, this is the festival experience for you. Use code BREAKDOWN to get 15% off your pass at www.coindesk.com/consensus2022. - Enjoying this content? SUBSCRIBE to the Podcast Apple: https://podcasts.apple.com/podcast/id1438693620?at=1000lSDb Spotify: https://open.spotify.com/show/538vuul1PuorUDwgkC8JWF?si=ddSvD-HST2e_E7wgxcjtfQ Google: https://podcasts.google.com/feed/aHR0cHM6Ly9ubHdjcnlwdG8ubGlic3luLmNvbS9yc3M= Join the discussion: https://discord.gg/VrKRrfKCz8 Follow on Twitter: NLW: https://twitter.com/nlw Breakdown: https://twitter.com/BreakdownNLW “The Breakdown” is written, produced by and features Nathaniel Whittemore aka NLW, with today's editing by Eleanor Pahl and Rob Mitchell, research by Scott Hill and additional production support by Eleanor Pahl. Jared Schwartz is our executive producer and our theme music is “Countdown” by Neon Beach. The music you heard today behind our sponsor is “I Don't Know How To Explain It” by Aaron Sprinkle. Image credit: skodonnell/Getty Images, modified by CoinDesk. Join the discussion at discord.gg/VrKRrfKCz8.

Transcript

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0:00.0	Welcome back to The Breakdown with me, NLW.
0:09.1	It's a daily podcast on macro, Bitcoin, and the big picture power shifts remaking our world.
0:15.0	The breakdown is sponsored by nexo.io, Arculus, and FtX, and produced and distributed by CoinDesk.
0:22.8	What's going on, guys? It is Sunday, April 24th, and that means it's time for Long
0:28.2	Reads Sunday. Before we get into that, however, if you are enjoying the breakdown,
0:32.5	please go subscribe to the show, give it a rating, give it a review, or if you want to dig
0:37.2	deeper into the conversation, come join us on the give it a review, or if you want to dig deeper into the
0:38.0	conversation, come join us on the Breakers Discord. You can find a link in the show notes or go
0:42.0	to bit.e. slash breakdown pod. Also, a disclosure as always, in addition to them being a sponsor
0:48.1	of the show, I also work with FTX. And speaking of FTX, that is the source of today's first thread. Yes, for Long Read Sunday this
0:58.8	week, I'm going to do one of the multi-thread reads. And I love these. As I've told you before,
1:03.8	this gets back to the roots of Long Read Sunday, which was in fact four years ago a Twitter
1:08.5	thread of all of the threads that had happened on Twitter
1:11.2	the week before. Anyways, I realized that I had made a grave error this week when on 420 I was
1:18.5	casting around trying to figure out what my show was going to be, and the answer was sitting there
1:23.6	in the date the whole time. If I were Elon Musk, I certainly wouldn't have made that
1:28.1	mistake. But here we are. Still, Brett Harrison, the president of FTXUS, wrote a great thread last
1:35.3	month about cannabis and digital assets, and ultimately about a real clear use case for the
1:41.3	crypto industry. Cannabis and digital assets. Though cannabis is legal in
1:46.6	Illinois, FTXUS's headquarters, and many other states, marijuana-related businesses, MRBs, are
1:53.2	effectively underbanked. This is because, A, no major national banking system will take on marijuana-related
1:59.9	businesses as customers,
	...

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