Bastion of Financial Stability Is Now Home to Marijuana Startups and Bitcoin Miners
- Canada attracting latest manias with easy listings, takeovers
- Low bar lends itself to stock promotion, murky disclosure
Bitcoin: What’s Coming in the Year Ahead
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When Hive Blockchain Technologies Ltd. was looking to tap into the cryptocurrency fervor by going public, Canada’s junior stock exchange was the obvious choice. The bar for listing was low. Retail investors, used to the rise and fall of penny stocks, were eager for the next hot thing. To help ensure a spectacular debut, Hive paid online promoters more than $750,000 plus options to sing the stock’s praises.
“Our top stock suggestion for the history books!" gushed Daniel Ameduri, president of Future Money Trends LLC, which was paid to recommend Hive. “Quarterly filings from Hive could end up being big events, much like when Apple discloses its quarterly iPhone sales."