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  • 📈 SAFE & Stablecoins - A Match Made In Heaven 📈

📈 SAFE & Stablecoins - A Match Made In Heaven 📈

Author

William McNarland
April 15, 2024

GM Everyone,

We are currently living in a world of uncertainty, especially concerning the cannabis industry. However, there was a development last week that might provide us with some momentum: stablecoins. Following the news that the Secure and Fair Enforcement (SAFE) Banking Act could potentially be included in a bill proposed by Senators Kirsten Gillibrand and Cynthia Lummis, we began to investigate further and were encouraged by what we discovered. This bill aims to establish a framework for stablecoins to be utilized in the traditional finance (TradFi) sector, which is much needed. If we can secure the inclusion of SAFE, it would significantly increase the likelihood of its passage. Let's seize this opportunity and move forward with today's headlines.

Today’s letter can be read in 7 minutes and 12 seconds. 

  • Can stablecoins be the saving grace of SAFE?

  • Legal cannabis could be coming to New Hampshire.

  • Psilocybins medical safety is under serious review.

  • Mark you calendards as we premiere our Washington exclusive with key Senators that are for and against SAFE banking.

Capital Markets this Morning:

The futures are up this morning. Here is what is in focus globally for stocks:

  • Iran's drone attack on Israel raised fears of a wider Middle East conflict, impacting oil prices and market stability.

  • U.S. S&P 500 futures rebounded despite Friday's downturn influenced by JPMorgan's cautious outlook and Middle East tensions.

  • Gold prices spiked Friday amid crisis but have since pulled back; U.S. Treasury yields also saw fluctuations.

  • Defense stocks rose, and airline stocks fell due to ongoing Middle East tensions affecting investor strategies.

  • Dollar strength persists, hitting a 2024 peak, bolstered by safety bids amid geopolitical concerns and interest rate expectations.

Cannabis Regulation: Could Crypto Legislation help pass the SAFER Banking Act?

The TDR Takeaway:  Chuck Schumer is actively seeking innovative methods to fast-track the passage of the SAFER act. The latest strategy includes merging it with cryptocurrency legislation and linking it to the Federal Aviation Administration reauthorization bill, which must be passed by May 10. Could the SAFER act be approved in under a month? It’s worth noting Nancy Mace’s comment on Trade to Black, which highlighted the importance of passing SAFER for Republicans who wish to maintain their majority in the House. For more details, visit the TDR website.

Cannabis Regulation: New Hampshire Legalization Efforts Advance Amid Legislative Hurdles

The TDR Takeaway:  The New Hampshire Cannabis Legalization bill has been approved by the House and is now headed to the Senate, pending specific provisions demanded by the Governor for his support. New Hampshire is adjacent to Massachusetts, and Interstate 95 links Manchester, the largest city in New Hampshire, to Massachusetts in less than 30 minutes. This proximity allows residents easy access to legalized recreational cannabis, causing New Hampshire to miss out on potential tax revenue and job opportunities without restricting access for its residents. It would be advantageous for New Hampshire to synchronize its laws with those of other New England states. For more details, visit the TDR website! 

Psychedelics: Exploring Psilocybin's Safety in Clinical Trials

The TDR Takeaway: A recent study confirms the safety profile of psilocybin. Although "bad trips" and their challenges are frequently mentioned, these are generally associated with use outside a controlled environment. The study, released this week, indicates that psilocybin poses a low risk for paranoia and thought disorders. It also underscores the potential of psilocybin to manage symptoms of depression and anxiety, suggesting significant therapeutic benefits. For more information, read about it on the TDR website!

Crypto: Bitcoin's Volatile Weekend Preceding its Halving event

The TDR Takeaway: Bitcoin saw considerable volatility this past weekend, occurring four days before its anticipated halving event. Its value dropped 8% after a drone attack by Iran on Israel, but it has now regained all its losses and achieved additional gains. Crypto billionaire Tim Draper has set a year-end target for Bitcoin at $250K. The halving is set for this Thursday at approximately 10 AM EST. For more information, read about it on the TDR website!

Today at 4 PM ET, join the TDR Trade To Black podcast for our largest video release to date. It includes interviews with more than seven Senators and Congressmen who will discuss the current political landscape in Washington DC. They will share their views on whether the SAFER Banking Act should have passed and the likelihood of the DEA recommending cannabis be rescheduled to Schedule III. Tune into TDR’s Washington DC Special Report for accurate, firsthand information straight from Capitol Hill. Ensure you don’t miss this crucial update.

In last nights episode of the TDR's Trade To Black podcast, the boys are back in town as we jump into several critical topics; we will recap our action from Capitol Hill, discuss an insider take on the SAFE Banking Act, the implications of rescheduling cannabis for lawmakers, and the Schedule 3 Bifurcation Theory. Plus, we'll have a conversation with Benzinga's Elliot Lane as we gear up for the upcoming Benzinga Cannabis Conference in Ft. Lauderdale, Florida—the premiere cannabis capital conference.