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Sam Bankman-Fried seems inspired by Elon Musk as ‘meme’ fundraiser drummed up $420.69 million

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Sam Bankman-Fried, the founder of a failed crypto company FTX, sold a $300 million stake in his company following a “meme” fundraiser.

The event drummed up $420.69 million from 69 investors, numbers that are references to cannabis and sex. Investors were reportedly told the money would be used to improve the user experience, help FTX work with regulators and grow the business, reports the Wall Street Journal.

Bankman-Fried, 30, justified the sale by telling investors it was partial reimbursement for money he spent to buyout Binance’s stake in the company, reports The Daily Mail. Binance is a cryptocurrency exchange that claims to operate the worlds biggest Bitcoin exchange and altcoin crypto exchange in the world by volume.

Now working through bankruptcy, John Ray, FTX’s new chief executive, said in a court filing that the process would involve the “comprehensive, transparent and deliberate investigation into claims against

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Sam Bankman-Fried, the founder of a failed crypto company FTX, sold a $300 million stake in his company following a “meme” fundraiser.

The event drummed up $420.69 million from 69 investors, numbers that are references to cannabis and sex. Investors were reportedly told the money would be used to improve the user experience, help FTX work with regulators and grow the business, reports the Wall Street Journal.

Bankman-Fried, 30, justified the sale by telling investors it was partial reimbursement for money he spent to buyout Binance’s stake in the company, reports The Daily Mail. Binance is a cryptocurrency exchange that claims to operate the worlds biggest Bitcoin exchange and altcoin crypto exchange in the world by volume.

Now working through bankruptcy, John Ray, FTX’s new chief executive, said in a court filing that the process would involve the “comprehensive, transparent and deliberate investigation into claims against

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Cannabis Council of Canada calls for immediate financial relief for legal industry, crackdown on illicit market

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The Cannabis Council of Canada (C3) is calling for “immediate financial relief” for the legal cannabis industry in a submission to Health Canada, reports Canadian Lawyer Magazine.

The organization has put forward 37 recommended measures to end the stigmatization of the industry, including revising the approach to taxation, loosening marketing restrictions, increasing the edibles limit and enforcing the laws on the illicit cannabis industry’s “brazen use of the Internet” to market to Canadians.

When announcing the expert panel that will lead the legislative review, Health Canada noted that Innovation, Science And Economic Development Canada (ISED) is currently “designing a cannabis forum” that will “provide a means for industry and government to examine issues relevant to the long-term competitiveness and stability of the sector.”

That seems to be the focus of C3’s submission, which urges federal and provincial governments to “deal with the financial viability of current

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UPS worker busted for possessing cannabis and stealing packages

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A UPS employee in Monroe, La. is no longer employed after a police investigation determined the 32-year-old had a bit of bud in a camouflage bag and several undelivered packages in his vehicle.

According to KTVE/KARD, the man faces multiple theft and controlled substances offences after officers were called into the UPS facility on Nov. 29. Responding officers were informed the accused had just been fired after he was found with a half-gram of cannabis inside a camouflage bag.

Any amount beyond that is treated as a felony, with prison time increasing and fines skyrocketing with higher amounts, per the National Organization for the Reform of Marijuana Laws.

The accused confessed to owning the illegal bud and told police there was also a small amount of cannabis in his vehicle.

There, officers discovered not only the weed, but also several, small and undelivered UPS packages on

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Three Hamilton vape and cannabis stores robbed in a span of two hours

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Hamilton Police have issued a news release after three robberies of vape and cannabis stores occurred within a two-hour span on Nov. 29.

The robberies occurred between 7 and 9 p.m. according to police and involved the same three suspects wearing masks. Two of the suspects were armed with handguns.

Police say they made off with cash and products from each business before fleeing by vehicle. The suspects remain at large and detectives are continuing an investigation.

In November, a 21-year-old man was charged after robbing a Sessions Cannabis store in Sarnia, Ont. in broad daylight. The lone knife-wielding male entered the store at about 9:30 a.m. on Nov. 2., demanded products from the clerk and then fled on foot. He was apprehended about a half-hour later and charged with robbery with a weapon and possession of a weapon for a dangerous purpose.

The month

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