Latest news for BLOK Technologies (OTC:BLPFF) Stock

BLOK Technologies Inc operates as an investment company. The company invests in blockchain enabled and mobile application technology. It provides capital, technology, and management expertise to the companies it develops. The company's Greenstream subsidiary specializes in building secure and reliable blockchain platforms.

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The year 2021 marked a period when global economies began picking up the pieces following the COVID-19 pandemic that left them crippled and ravaged. Notwithstanding the setbacks, the tech sector extended its gains from 2020 and remains poised to go from strength to strength.

2022 Tech Trends That Will Change Our World And The Potential Beneficiaries: Deloitte Report

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The Republican vice-presidential nominee, J.D. Vance, has been under the spotlight for his connections with the tech industry. Nobel Prize-winning economist, Paul Krugman, recently highlighted this aspect of Vance&#8217;s background.
What Happened: Krugman took to X to remind his followers of Vance&#8217;s primary support base. He pointed out that Vance was heavily backed by the tech community, the same group that had previously shown a strong interest in Robert F. Kennedy Jr.
&#8220;As the hits keep coming on JD Vance, worth remembering that he was, above all, the candidate of tech bros — the same people who, a year ago, were infatuated with RFK Jr,&#8221; Krugman wrote. 
The post included a link to a New York Times article discussing how a network of tech billionaires played a crucial role in J.D. Vance&#8217;s rise to political power, highlighting the influence of Silicon Valley&#8217;s elite in his ascent.
Despite spending a relatively short time in the tech industry, Vance&#8217;s connections, particularly with figures like Peter Thiel, co-founder of PayPal, Palantir Technologies proved instrumental in his political ascent.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">As the hits keep coming on JD Vance, worth remembering that he was, above all, the candidate of tech bros — the same people who, a year ago, were infatuated with RFK Jr.<a href="https://t.co/uSEudatVhv">https://t.co/uSEudatVhv</a>
&mdash; Paul Krugman (@paulkrugman) <a href="https://twitter.com/paulkrugman/status/1816535182696182266?ref_src=twsrc%5Etfw">July 25, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
These ties were further solidified during a fundraising event for former President Donald Trump in San Francisco, where tech, Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>), and cryptocurrency executives and investors, including Thiel, endorsed Vance as Trump&#8217;s running mate.
See Also: <a href="https://www.benzinga.com/markets/equities/24/07/39947663/peter-schiff-says-americans-are-broke-points-to-fords-dismal-q2-profit-they-cant-afford-to-buy-n?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Peter Schiff Says &#8216;Americans Are Broke&#8217; — Points To Ford&#8217;s Dismal Q2 Profit: &#8216;They Can&#8217;t Afford To Buy New Cars&#8217; Due To Interest Rates</a>
Why It Matters: The scrutiny on Vance&#8217;s venture capital background has intensified following his selection as Trump&#8217;s running mate in the 2024 presidential election. Vance&#8217;s short stint in Silicon Valley and his relationships with influential tech investors like Thiel have been <a href="https://www.benzinga.com/general/politics/24/07/39916075/j-d-vance-venture-capital-background-under-scrutiny-it-never-seemed-like-he-was-even-working-it-">under the microscope</a>. 
Vance&#8217;s venture capital <a href="https://www.benzinga.com/general/politics/24/07/39916075/j-d-vance-venture-capital-background-under-scrutiny-it-never-seemed-like-he-was-even-working-it-">career is being questioned</a>, with some critics suggesting that his primary focus was on his book, &#8220;Hillbilly Elegy,&#8221; rather than his venture capital duties.
Moreover, Krugman has been vocal about the economic policies of the Trump administration. He criticized Trump&#8217;s tariff policies, arguing that they would harm the majority of Americans while <a href="https://www.benzinga.com/news/24/07/39630382/paul-krugman-says-trump-tariffs-will-hurt-80-of-americans-benefit-only-the-top-1-burden-would-fall-o">benefiting only the top 1%</a>. This context adds another layer to Krugman&#8217;s recent comments on Vance.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39900472/rich-dad-poor-dad-author-robert-kiyosaki-predicts-bitcoin-gold-and-silver-prices-will-soar?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">&#8216;Rich Dad Poor Dad&#8217; Author Robert Kiyosaki Predicts Bitcoin, Gold, And Silver Prices Will Soar If Trump Wins 2024 Election, Says King Crypto Will Reach $105K</a></li>
</ul>
Image Via Shutterstock 
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/topic/Kaustubh-Bagalkote" target="_blank" rel="noreferrer noopener">Kaustubh Bagalkote</a>

Politics

Global

$BTC

Trump VP Choice JD Vance Is A Tech-Bro Pick, Says Paul Krugman — Same People Last Year Were Infatuated With Robert Kennedy Jr.

A new study by a UK-based research group, Drug Science, suggests that medical marijuana could help treat suicidal ideation.
The researchers assessed about 4000 patients at the beginning of the study, but observational data was available for 2,112 patients at three months, and 777 patients for 12 months. The goal of the study was to observe the prevalence and correlates of suicidal ideation among individuals seeking medical marijuana based products, according to the <a href="https://www.tandfonline.com/doi/full/10.1080/13811118.2024.2356615?ref=little-big-world.ghost.io">paper</a> published Wednesday in Archives of Suicide Research.
Some 25% of the sample confirmed suicidal ideation at treatment entry and were assessed to have depression and poor overall health. Their quality of life was lower and they had more trouble sleeping. Self-reported depressed mood and suicidal ideation were assessed using items from the patient health questionnaire-9.
After three months of treatment, the prevalence of suicidal ideation dropped from 23.6% to 17.6%. This means that the number of people reporting suicidal thoughts dropped by 25.4% after just three months of treatment with medical marijuana.
Furthermore, depression levels improved significantly over the year, especially for those who had suicidal thoughts at the start. Participants with suicidal thoughts, improved their depression scores by 42%, compared to 37% for those without ideation.
Read Also: <a href="https://www.benzinga.com/markets/cannabis/24/01/36681186/new-clinical-study-by-german-psychiatric-hospital-shows-medical-marijuana-improves-chronic-depre">Medical Marijuana Improves Chronic Depression Symptoms, New Clinical Study By German Psychiatric Hospital Shows</a>
<h2 class="wp-block-heading">Differentiating Causation And Correlation</h2>
This study does not align with some of the previous findings that suggest cannabis users are more likely to have suicidal ideation. However, it could be that previous studies didn't differentiate between correlation and causation, meaning it has not been concluded if cannabis use causes suicidal thoughts, or if people with such thoughts are more prone to use cannabis.
The Drug Science study suggests that people who feel suicidal are more likely to seek medical marijuana, <a href="https://little-big-world.ghost.io/this-week-in-weed-mystery-cannabinoids-a-dea-record-and-promising-research-about-cannabis-and-suicidal-thoughts/">writes</a> Indispensable's Hannah Harris Green. Additionally, the research suggests that once they are given access to medical marijuana, they might get relief from such symptoms.
Furthermore, previous data have shown that cannabis legalization <a href="https://www.benzinga.com/markets/cannabis/21/11/23821385/study-cannabis-legalization-reduces-suicide-rates-among-middle-aged-males">reduces suicide rates among middle-aged males</a>. "Critics of marijuana legalization point to studies showing correlations between heavy cannabis use and suicide, depression, and mental health disorders. However, such studies that demonstrate correlation have yet to confirm causation, which should be determined by a model's ability to predict," reads the <a href="https://www.medrxiv.org/content/10.1101/2020.09.25.20201848v2.full.pdf">study</a> published in 2021.
<a></a> Read Also: <a href="https://drupal-cloudfront.benzinga.com/markets/cannabis/19/06/13851648/study-suicide-numbers-dropped-in-california-after-marijuana-legalization">Study: Suicide Numbers Dropped In California After Marijuana Legalization</a>
The importance of Drug Science&#8217;s new study is primarily the conclusion that medical marijuana might be a helpful tool in treating suicidal thoughts and depression. It is also significant as it dismantles the myth, commonly used as an argument against cannabis legalization, that cannabis causes suicidal ideation.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/general/biotech/21/10/18046869/cannabis-provides-immediate-relief-for-symptoms-of-depression">Study Published On Yale Journal Shows Cannabis Provides Immediate Relief For Symptoms Of Depression &amp; Other Mental Health Issues</a></li>
</ul>
Learn all about the future of the cannabis industry at the Benzinga Cannabis Capital Conference this October in Chicago. Hear directly from key industry players and policymakers. Get your tickets now by following <a href="https://www.eventbrite.com/e/benzinga-capital-conference-cannabis-fall-2024-tickets-858948065787?aff=oddtdtcreator" target="_blank" rel="noreferrer noopener">this link</a>.
Photo: Courtesy of PeopleImages.com &#8211; Yuri A via Shutterstock

Cannabis

Medical Marijuana Helps Treat Suicidal Thoughts And Depression, New Study

The initial public offering target for Bill Ackman&#8216;s U.S. investment fund, Pershing Square USA, has been drastically reduced by as much as 90%. This comes as the CEO&#8217;s comments are disavowed by the fund.
What Happened: Ackman, a prominent billionaire hedge fund manager, has cut the fundraising goal for the IPO of his U.S. investment fund, Pershing Square USA, by up to 90%, the Financial Times <a href="https://www.ft.com/content/c4b4f63e-81cc-4902-874c-75a1a0baa28c">reported</a> on Thursday. The initial target of $25 billion has been significantly reduced.
In a letter filed with the Securities and Exchange Commission, Ackman stated that he anticipates raising between $2.5 billion and $4 billion, with the possibility of increasing to $10 billion based on marketing efforts.
In a letter to investors in his Pershing Square holding company sent on Wednesday, Ackman urged, &#8220;This is a moment when you can be very helpful to Pershing Square by participating in the PSUS offering and giving your order to the banks, the sooner the better.&#8221;
However, Pershing Square USA &#8220;specifically disclaims&#8221; Ackman&#8217;s statement in the filing that included the letter.
Despite this, the fund has already received orders from investors, including the Baupost Group, the Teacher Retirement System of Texas, and a family office with over $65 billion in assets.
See Also: <a href="https://www.benzinga.com/news/24/07/39881526/wall-streets-most-accurate-analysts-say-hold-these-3-utilities-stocks-with-over-5-dividend-yields?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Wall Street&#8217;s Most Accurate Analysts Say Hold These 3 Utilities Stocks With Over 5% Dividend Yields</a>
Ackman also highlighted the role of U.S. retail investors in the IPO, anticipating them to be a &#8220;huge source of after-market demand.&#8221;
Why It Matters: Ackman&#8217;s decision to reduce the IPO target comes after a series of events that have put him in the spotlight. This includes his use of <a href="https://www.benzinga.com/news/24/07/39766570/bill-ackman-says-his-unofficial-mentor-warren-buffett-inspired-him-to-take-pershing-square-funds-pub">social media to attract potential investors</a>, his endorsement of former President Donald Trump, and his public admiration for his &#8220;unofficial mentor&#8221; Warren Buffett.
In recent years, many hedge funds have struggled to raise capital, with investors favoring a select group of multi-manager firms and alternative asset managers focused on infrastructure and private credit.
It is also worth noting that Pershing Square USA is a closed-end fund set to be listed on the New York Stock Exchange, investing in large, publicly traded stocks that Ackman and his team believe are undervalued. Ackman had previously informed investors that he expected the company to trade at a premium compared to the net assets it held.
Despite the reduction in the IPO target, Ackman remains optimistic about the fund&#8217;s potential, particularly with the involvement of U.S. retail investors and the <a href="https://www.benzinga.com/news/24/07/39811552/from-warren-buffett-style-annual-meetings-to-social-media-strategy-heres-how-bill-ackman-plans-to-bo">support of institutional investors</a>.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39923307/senator-cynthia-lummis-slams-biden-administrations-dangerous-scheme-to-impose-30-tax-on-bi?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Senator Cynthia Lummis Slams Biden Administration&#8217;s &#8216;Dangerous Scheme&#8217; To Impose 30% Tax On Bitcoin Mining, Call It &#8216;Blatant Attack&#8217; On American Excellence</a></li>
</ul>
Image Via Shutterstock 
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/topic/Kaustubh-Bagalkote" target="_blank" rel="noreferrer noopener">Kaustubh Bagalkote</a>

Management

IPOs

Bill Ackman's US Fund IPO Target Slashed By 90% As Pershing Square 'Specifically Disclaims' CEO's Comments

The cryptocurrency market was a mixed bag on Thursday, with Bitcoin and Dogecoin rebounding sharply and Ethereum sliding further.
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Cryptocurrency</td>
<td>Gains +/-</td>
<td>Price (Recorded 9 p.m. EDT)</td>
</tr>
<tr>
<td>Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)</td>
<td>+2.95%</td>
<td>$66,325.97</td>
</tr>
<tr>
<td>Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td>
<td>-0.94%</td>
<td>$3,183.16.</td>
</tr>
<tr>
<td>Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td>
<td>+2.82%</td>
<td>$0.1271</td>
</tr>
</tbody>
</table>
</figure>
What Happened: Bitcoin started to surge during early trading hours. The rally gained steam after the market closed, causing the apex cryptocurrency to break $66,000.
The uptrend might have been powered by the world's biggest Bitcoin miner, Marathon Digital Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MARA#NASDAQ">MARA</a>) <a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39958725/marathon-digital-buys-bitcoin-adopts-full-hodl-strategy-whats-going-on-with-the-mining-sto">$100 million BTC purchase</a>, and its adoption of a full HODL strategy&nbsp;
Ethereum also reversed the downsides after trading hours, ensuring little change from the previous day. However, the second-largest crypto has witnessed intense sell-offs since its spot ETFs debuted.
In the past 24 hours, 58,130 traders were liquidated, as the total liquidations came in at $226.26 million. Ethereum led the wipeout with more than $84 million in liquidations.
The Long/Short Ratio lent credence to the above observation, showing a jump in bullish bets on the cryptocurrency against bearish bets.
Downside bets for Ethereum surged in comparison to bullish bets in the last 24 hours, signaling a bearish mood.&nbsp;
The Cryptocurrency Fear &amp; Greed Index flashed "Greed" as of this writing, implying significant FOMO in the market.
Top Gainers (24-Hours)
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Cryptocurrency</td>
<td>Gains +/-</td>
<td>Price (Recorded at 9 p.m. EDT)</td>
</tr>
<tr>
<td>Pyth Network (PYTH)</td>
<td>+11.09%</td>
<td>$0.3806</td>
</tr>
<tr>
<td>Helium (HNT)</td>
<td>+10.55%</td>
<td>$5.26</td>
</tr>
<tr>
<td>SATS (1000SATS)</td>
<td>+7.62%</td>
<td>$0.0003162</td>
</tr>
</tbody>
</table>
</figure>
The global cryptocurrency market stands at $2.36 trillion, declining 0.51% in the last 24 hours.
Stocks extended their losing streak Thursday. The S&amp;P 500 slipped 27.91 points, to end 0.51% lower at 5,399.22. The tech-focused Nasdaq Composite dropped 0.93% to close at 17,181.72. On the contrary, the blue-chip index Dow Jones Industrial Average rose 0.20% to finish at 39,935.07.
Investors continued to dump shares of tech giants Alphabet Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) and Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) for the second day.&nbsp;
Investors may have also taken into account the <a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39958813/surprise-q2-gdp-growth-inflation-eases-economy-is-much-stronger-than-people-realize-7-etfs">stronger-than-expected second-quarter GDP</a> numbers.
See More: <a href="https://www.benzinga.com/money/best-crypto-scanners">Best Cryptocurrency Scanners</a>
Analyst Notes: Prominent on-chain researcher Ali Martinez anticipated a bullish breakout for Bitcoin as its Relative Strength Index broke through a downward trendline, which has been in effect since July 19.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> is signaling a potential bullish breakout as its RSI on the hourly charts breaks through a downward trendline established since July 19! <a href="https://t.co/OAdjKosbK7">pic.twitter.com/OAdjKosbK7</a>
&mdash; Ali (@ali_charts) <a href="https://twitter.com/ali_charts/status/1816581135251415480?ref_src=twsrc%5Etfw">July 25, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
In an earlier X post, he noted that Bitcoin needs to cross $66,450 for the sentiment to flip bullish.
Another widely followed cryptocurrency analyst, Miles Deutscher, refused to read too much into Ethereum's correction, rather saying, "If anything, this pullback is an opportunity."
Deutscher reminded that the first two weeks after Bitcoin ETFs were loss-making for Bitcoin too as it dropped 20%. However, over the next 50 days, King Crypto surged 91%.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Honestly, this <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$ETH</a> dip is not surprising at all. When the <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> spot ETF first launched, it dropped 20% in 14 days. Afterwards, <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> proceeded to rally 91% in 51 days. If anything, this pullback is an opportunity. <a href="https://t.co/r8v5c1KE0I">pic.twitter.com/r8v5c1KE0I</a>
&mdash; Miles Deutscher (@milesdeutscher) <a href="https://twitter.com/milesdeutscher/status/1816520855461200198?ref_src=twsrc%5Etfw">July 25, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Read Next:&nbsp;&nbsp;&nbsp;&nbsp;
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39975390/trumps-bitcoin-support-a-political-no-brainer-to-garner-votes-says-peter-schiff-promise-to">Trump&#8217;s Bitcoin Support A Political No-Brainer To Garner Votes, Says Peter Schiff: Promise To Make King Crypto A Reserve Asset &#8216;Won&#8217;t Be Kept&#8217;</a></li>
</ul>

Coverage of Bitcoin, Etherum, Ripple and all the latest digital currencies.

Cryptocurrency

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$ETH

MARA

TSLA

Bitcoin, Dogecoin Spike, Ethereum Remains Muted After ETF Debut:  Bullish Breakout For King Crypto Anticipated Because Of This Factor

A national drug policy reform organization is challenging the DEA's proposal to ban two psychedelic substances, arguing the move would hinder critical scientific research. As <a href="https://www.marijuanamoment.net/deas-move-to-ban-two-psychedelics-is-challenged-as-a-disservice-to-science-in-legal-filing-from-student-group/">reported</a> by Marijuana Moment, the nonprofit Students for Sensible Drug Policy (SSDP) presented their case in a <a href="https://ssdp.org/wp-content/uploads/2024/07/Copy-of-DOI-and-DOC-Hearing-Request-Sent-to-DEA-on-January-4th-2024.docx-1.pdf">prehearing statement</a> to the DEA's administrative court on Tuesday.
The DEA <a href="https://www.benzinga.com/markets/cannabis/23/12/36246702/dea-renews-effort-to-place-2-psychedelics-in-strictest-drug-category">plans to classify 2,5-dimethoxy-4-iodoamphetamine (DOI) and 2,5-dimethoxy-4-chloroamphetamine (DOC) as Schedule I</a> drugs under the Controlled Substances Act (CSA). This classification is reserved for substances with high abuse potential and no accepted medical use. However, the SSDP, representing 20 graduate students, researchers and professors, are contesting the move, arguing for the therapeutic potential of these compounds.
The petitioners argue the agency has not provided sufficient evidence to support the high abuse potential claim. According to SSDP, there are no documented cases of harmful effects or dependence related to DOI and DOC in medical literature. "DOI and DOC are important research chemicals with basically no evidence of abuse," stated Brett Phelps, SSDP alum and its legal counsel.
<h3 class="wp-block-heading">Impact on Research</h3>
Experts warn that scheduling these psychedelics would severely impact ongoing research. "DEA's proposed rulemaking defies scientific study and will make it more difficult for researchers to work on the serotonin 2 receptor," said Elijah Ullman, chair of SSDP's Science Policy Committee. The serotonin 2 receptor plays a crucial role in regulating learning, memory and mood.
<h3 class="wp-block-heading">Historical Context</h3>
This challenge is part of a longer battle between the <a href="https://www.benzinga.com/topic/drug-enforcement-administration">DEA</a> and the scientific community. In 2022, the agency first attempted to list these substances, but the proposal was <a href="https://www.benzinga.com/markets/cannabis/22/08/28654017/deas-latest-proposal-for-psychedelics-banning-gets-archived">withdrawn after significant pushback</a>. The DEA renewed its efforts last December, continuing the contentious debate.
Research over the past 35 years, including studies funded by federal health agencies, suggests DOI and DOC may be effective in treating chronic pain, opioid and alcohol addiction and other mental health disorders. Kat Murti, SSDP executive director underscored the broader implications. "This is about preserving the integrity of scientific inquiry, advancing medical treatment, and ultimately, impacting lives positively."
<h3 class="wp-block-heading">Future Implications</h3>
As the DEA moves forward with its proposal, the scientific community and advocacy groups remain vigilant. The debate underscores the need for balanced drug policy that considers both potential abuse and therapeutic benefits.
Cover image made with AI

Government

DEA Faces Backlash Over Psychedelics Ban Proposal From Student Advocacy Group

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