This newsletter may have to pivot to marijuana soon, if recent reports about weed stocks being the new crypto are to be believed. I, for one, think decentralized money will end up capturing more value than the marijuana industry, but at least pot won’t be questioned for its underlying utility.
Other than marijuana stocks, this week’s big mover was XRP, which briefly surpassed ether in market cap. And speaking of XRP, Ripple execs were on Capitol Hill yesterday meeting with lawmakers along with representatives from Coinbase, Circle and other big crypto companies. We dive deeper into the significance of that meeting below.