TLDR – TDR News highlights – February 12th to 13th

Get a quick update on today’s essential news! We’ve condensed the most important information about Cannabis, Psychedelics, Crypto, and AI into a brief format, saving you time and keeping you informed as you start your day. 

Cannabis:

TILT Holdings Inc. (CBOE: TILT, OTC: TLLTF), alongside its subsidiary Jupiter Research, has introduced THREDZ™, a patented stackable 510 cartridge technology enabling consumers to create custom blends by combining two oil cartridges. This innovation aims to enhance user experience through customization while being compatible with existing 510 batteries. The launch of THREDZ is part of TILT’s and Jupiter Research efforts to provide innovative and consumer-focused cannabis consumption options.

Cannabis Policy:

More delays with implementation…….

Delaware’s launch of recreational marijuana retail has been delayed to March 2025, per Delaware Public Media. The Marijuana Control Act’s timeline for issuing licenses is now extended due to documentation delays. Conversion licenses for existing medical providers to serve the recreational market are being considered to ensure supply meets the anticipated demand. A lottery system may replace the competitive scoring for license allocation to ensure fairness. Delaware plans to issue 125 licenses, expecting significant revenue from applications and sales, projected at $281 million annually. Despite some local bans, the state doesn’t foresee an impact on sales. The process for issuing licenses is set to progress from July 2024 to March 2025.

Ohio’s attempt to amend its adult-use marijuana law is stalled, as highlighted by Ohio Capital Journal. The Ohio Senate’s efforts to revise the legislation have not been matched by the House, leaving the state without a clear path to implement sales. Key proposals include adjusting tax rates and limiting cultivation at home. This legislative impasse reflects the difficulties in aligning regulatory frameworks with voter-approved initiatives. Read the full story on the TDR Website!

Psychedelic:

The trend of companies shifting from CBOE to CSE continues………

Awakn Life Sciences Corp. (CBOE: AWKN, OTC: AWKNF), specializing in treatments for addiction, particularly Alcohol Use Disorder (AUD), will list its shares on the Canadian Securities Exchange (CSE) under “AWKN” from February 13, 2024, after delisting from Cboe Canada on February 12, 2024. This change, which requires no shareholder action, aims to lower compliance costs and support Awakn’s growth. Awakn focuses on developing therapeutics for the significant global population affected by AUD.

Psychedelic Policy:

A federal appeals court has questioned the DEA’s refusal to reclassify psilocybin, calling for more transparency in the drug scheduling process. Dr. Sunil Aggarwal and the AIMS Institute’s legal challenge seeks to use psilocybin for palliative care in cancer patients, pointing to its potential in treating depression and anxiety. This effort is part of a broader push to change drug policy to improve access to investigational treatments for severe illnesses, emphasizing the need for a reevaluation of psychedelic therapy within patient care. Read the full story on the TDR Website!

Psychedelic Studies:

Swiss scientists have updated the famous Psychedelic Experience Scale (PES) to improve the study of psychedelics like LSD and psilocybin, as detailed in the Journal of Psychopharmacology. The revision introduces new subscales for analyzing complex experiences, including aspects of paradoxicality, connectedness, visual phenomena, and distress. This enhancement supports broader research into psychedelics’ potential for mental health treatment and deepens insights into consciousness.

Crypto:

Bitcoin reached $50,000 for the first time since 2021, driven by US spot ETF demand with $2.8 billion in inflows, showing a recovery from its previous year’s decline. Despite not hitting its all-time high of $69,000 from November 2021 yet, the increase reflects optimism for mainstream acceptance through spot Bitcoin ETFs. The cryptocurrency’s rise is part of a wider interest in riskier assets amid expectations of looser monetary policy. The market has overcome the impacts of past crypto scandals, including the collapses of TerraUSD and the FTX exchange, with the industry looking forward to the Bitcoin halving event and enjoying positive sentiment during the Lunar New Year holidays. The launch of nine US spot Bitcoin ETFs has expanded the investor base, contributing to Bitcoin’s current upward trajectory. Read the full story on the TDR Website!

Even Barron’s is discussing the Grayscale Ethereum Trust! This indicates growing momentum. According to Dow Jones, the average Barrons.com reader is 45 years old, which is older than the typical demographic interested in cryptocurrency developments. The average household income of a Barron’s Reader is $288,886 per year and average net worth is over $2Million. According to Stilt, Nearly 94% of current cryptocurrency buyers are in the age range of 18-40, with Gen Z and Millennials making up the majority.

AI:

Yesterday we looked at how AI can help, today, we look at some challenges…..

AI advancements are leading to job cuts more than companies publicly acknowledge, as reported by Canada’s “National Post.” Firms like UPS and BlackRock have seen efficiency gains through AI, indirectly contributing to workforce reductions. Experts indicate that the actual impact of AI on jobs is likely underreported, with businesses preferring to minimize publicity on this issue. Across various sectors, jobs are being quietly eliminated or not replaced, as AI begins to automate tasks and processes. The trend suggests a move towards leaner organizations, with AI replacing human roles in several areas.

Al Jazeera reports on the growing use of AI in corporate America, leading to increased instances of individuals being denied loans, memberships, and job opportunities without an option for appeal. AI-driven decisions, often based on historical data, may perpetuate biases and overlook individual circumstances. The Consumer Financial Protection Bureau mandates lenders to explain the reasons behind loan denials, yet the absence of a human appeal process persists as a significant issue. This trend raises concerns about fairness and the potential for AI to exclude people based on outdated or irrelevant criteria, prompting discussions about the need for alternative data sources and retaining human judgment in decision-making processes.