ETF Series Solutions LHA Risk-Managed Income ETF (BATS: RMIF)

Latest news for ETF Series Solutions LHA Risk-Managed Income ETF (BATS:RMIF)

The Fund is an actively-managed fund of funds and seeks to achieve its investment objective by investing primarily in other investment companies, including other actively managed exchange-traded funds (ETFs) and index-based ETFs (collectively, Underlying Investments), that provide exposure to a broad range of fixed income asset classes. The Underlying Investments may invest in investment-grade U.S. corporate bonds, U.S. Treasury securities, floating rate debt securities, treasury inflation-protected bonds (TIPS), foreign corporate debt securities (including those of emerging markets), high yield (junk) bonds, mortgage-backed and asset-backed securities, and preferred stocks. The Fund may also invest in cash, cash equivalents, or money market funds.

Invesco Senior Loan ETF

Spdr Blackstone Senior Loan ETF

SPDR Bloomberg Short Term High Yield Bond ETF

First Trust Senior Loan ETF

Ishares 0-5 Year High Yield Corporate Bond ETF

First American Treasury Obligations Fund

First American Government Obligations Fund Class X

LHA Risk-Managed Income ETF

ETF Series Solutions LHA Risk-Managed Income ETF

On Thursday, Cathie Wood-led Ark Invest made significant trades in Coinbase Global Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>), Palantir Technologies Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PLTR#NYSE">PLTR</a>), and Robinhood Markets Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HOOD#NASDAQ">HOOD</a>).
The COIN Trade
Ark Invest sold 69,069 shares of Coinbase from its ARK Next Generation Internet ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ARKW#NYSE">ARKW</a>) and Ark Fintech Innovation ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ARKF#NYSE">ARKF</a>). The value of this trade, based on the closing price of $212.64 on the same day, stands at approximately $14.7 million. 
This move comes after <a href="https://www.benzinga.com/markets/cryptocurrency/24/08/40115874/coinbase-q2-earnings-revenue-beat-transaction-revenue-falls-subscription-and-services-reve">Coinbase&#8217;s second-quarter earnings report</a>, which revealed a revenue beat, but a decrease in transaction revenue.
Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) <a href="https://www.benzinga.com/markets/cryptocurrency/24/08/40121513/bitcoin-chops-in-64k-ethereum-dogecoin-dip-on-day-major-crypto-firms-reported-earnings-ana">remained relatively stable</a> while Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) dropped as major cryptocurrency firms&#8217; earnings revealed mixed results on Thursday.
The PLTR Trade
Ark Invest, through its ARK Innovation ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ARKK#NYSE">ARKK</a>), sold 325,594 shares of Palantir. The value of this trade, based on the closing price of $26.08 on the same day, stands at approximately $8.5 million. This decision follows a period of <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/07/40048723/whats-going-on-with-palantir-technologies-stock-today">uncertainty in Palantir&#8217;s stock</a>, despite a recent price target increase from Citigroup.
The HOOD Trade
Ark Invest also sold 282,435 shares of Robinhood from its ARKK ETF. The value of this trade, based on the closing price of $20.24 on the same day, stands at approximately $5.72 million. This move comes ahead of Robinhood&#8217;s second-quarter earnings, which <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/07/39719107/bofa-analysts-expect-robinhood-eps-beat-in-q2-heres-why">BofA analysts expect to beat estimates</a>. The numbers are expected next Wednesday.
See Also: <a href="https://www.benzinga.com/news/24/08/40107937/nvidia-maplebear-and-2-other-stocks-insiders-are-selling?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">NVIDIA, Maplebear And 2 Other Stocks Insiders Are Selling</a>
Other Key Trades:
<ul>
<li>Ark Invest bought shares of Advanced Micro Devices Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>) through its ARKW ETF.</li>
<li>Ark Invest bought shares of Aurora Innovation Inc (AUR) through its ARKQ ETF. </li>
<li>Ark Invest sold shares of Trimble Inc (TRMB) from its ARKQ ETF. </li>
<li>Ark Invest bought shares of 3IQ ETHER STAKING ETF (ETHQ) through its ARKW ETF.</li>
<li>Ark Invest sold shares of ARK 21Shares Bitcoin ETF (ARKB) from its ARKW ETF. </li>
</ul>
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/markets/equities/24/07/40029681/trump-accuses-opec-of-manipulating-oil-prices-to-favor-kamala-harris-warns-she-will-be-a-disaste?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Trump Accuses OPEC Of Manipulating Oil Prices To Favor Kamala Harris, Warns &#8216;She Will Be A Disaster For The USA!&#8217;</a></li>
</ul>

Equities

News

Markets

ETFs

$BTC

$ETH

ARKF

ARKK

ARKW

COIN

HOOD

PLTR

Cathie Wood's Ark Invest Sells $14.7M Worth Of Coinbase Shares And $8.5M Worth Of Palantir Stock — Also Sells Robinhood Shares But Loads Up On AMD

Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) has continued its robust capital return program, returning over $32 billion to shareholders in the <a href="https://www.benzinga.com/news/earnings/24/08/40098719/how-to-earn-500-a-month-from-apple-stock-ahead-of-q3-earnings">third quarter of fiscal year 2024</a>.
What Happened: During the earnings call, Apple&#8217;s CFO Luca Maestri provided details on the company&#8217;s capital allocation strategy.
&#8220;During the quarter, we returned over $32 billion to shareholders, including $3.9 billion in dividends and equivalents and $26 billion through open market repurchases of 139 million Apple shares,&#8221; Maestri stated.
The company also announced its next dividend payment, with Maestri saying, &#8220;Today our Board of Directors has declared a cash dividend of $0.25 per share of common stock payable on Aug. 15, to shareholders of record as of Aug. 12.&#8221;
This substantial return of capital to shareholders comes amid a quarter of <a href="https://www.benzinga.com/news/earnings/24/08/40116376/apple-q3-earnings-beat-expectations-tim-cook-highlights-breakthrough-ai-platform-installed-base-of-">strong financial performance for Apple</a>. The company reported a new June quarter revenue record of $85.8 billion, up 5% year-over-year, with earnings per share growing to $1.40, also a June quarter record.
See Also: <a href="https://www.benzinga.com/markets/equities/24/08/40095631/researchers-identify-trump-dump-effect-ex-president-is-already-causing-deep-stock-losses-in-comp?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Researchers Identify &#8216;Trump Dump&#8217; Effect: Ex-President Is Already Causing Deep Stock Losses In Companies And Industries He Targets</a>
Why It Matters: Apple&#8217;s strong financial performance in the third quarter is noteworthy, especially considering the company&#8217;s recent challenges. On Thursday, Apple reported <a href="https://www.benzinga.com/news/earnings/24/08/40098719/how-to-earn-500-a-month-from-apple-stock-ahead-of-q3-earnings">earnings that exceeded expectations</a>, with revenue growing year-over-year. 
Earlier in the day, analysts had anticipated that Apple&#8217;s third-quarter results would signal an i<a href="https://www.benzinga.com/news/earnings/24/08/40100693/will-apple-lay-the-case-for-easing-into-ai-superhighway-analysts-expect-iphone-makers-q3-results-to">nflection in topline growth</a>. The June quarter is typically slow for Apple, but the company managed to report growth in both revenue and earnings per share.
Moreover, Warren Buffett&#8217;s Berkshire Hathaway has significantly benefited from its <a href="https://www.benzinga.com/general/24/06/39433071/heres-how-much-warren-buffetts-berkshire-hathaway-earns-in-dividends-annually-from-its-stake-in-appl">stake in Apple</a>, roughly 5.1% of the company. And it&#8217;s a significant stake for Berkshire, representing over 40% of its portfolio, earning substantial dividends annually. 
Price Action: Apple&#8217;s stock closed at $218.36 on Thursday, down 1.68% for the day. In after-hours trading, the stock increased by 0.57%. Year to date, Apple&#8217;s stock has risen by 17.63%, according to <a href="https://pro.benzinga.com/dashboard">data from Benzinga Pro</a>.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/07/40088529/bitcoin-ethereum-dogecoin-slip-amid-flare-up-of-iran-israel-tensions-analyst-says-a-big-mo?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Bitcoin, Ethereum, Dogecoin Slip Amid Flare-Up Of Iran-Israel Tensions: Analyst Says &#8216;A Big Move Is Coming Soon&#8217; For King Crypto</a></li>
</ul>
Image Via Shutterstock
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Tech

AAPL

Apple CFO Luca Maestri Pumps Confidence, Says iPhone Maker Returned $32B To Shareholders In Q3

Amazon.com Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) has attributed its <a href="https://www.benzinga.com/news/earnings/24/08/40114662/amazon-q2-earnings-highlights-revenue-miss-eps-beat-q3-guidance-and-more">disappointing revenue forecast</a> to the ongoing Paris Olympics and the recent assassination attempt on former President Donald Trump.
What Happened: Amazon&#8217;s finance chief, Brian Olsavsky, cited the current news cycle as a major reason for the company&#8217;s projected decline in online shopping for the quarter ending in September, CNBC <a href="https://www.cnbc.com/2024/08/01/amazon-says-distraction-of-olympics-trump-shooting-caused-weak-guide.html">reported</a> on Thursday. 
The Paris Olympics and the lead-up to the U.S. presidential election in November are diverting consumer attention, Olsavsky said during a call with journalists following the second-quarter earnings report.
"Customers only have so much attention," Olsavsky said. "When high-profile things happen, or the assassination attempt a couple of weeks ago, you see that people shift their attention to news. It's more about distractions."
Amazon expects its third-quarter revenue to range between $154 billion and $158.5 billion, with the midpoint of $156.25 billion falling short of the $158.24 billion consensus estimate. This, combined with a second-quarter revenue miss, led to nearly 7% drop in Amazon&#8217;s shares during extended trading.
Economic challenges are also influencing consumer spending patterns, according to Amazon executives. CEO Andy Jassy noted that consumers are being cautious with their spending, opting for cheaper items. 
Olsavsky added that consumers are &#8220;continuing to be cautious&#8221; and are more focused on buying everyday essentials, which could explain the revenue shortfall.
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/07/40032973/if-you-invested-1000-in-bitcoin-when-trump-said-its-value-is-based-on-thin-air-heres-how-m?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">If You Invested $1000 in Bitcoin When Trump Said Its Value Is &#8216;Based On Thin Air,&#8217; Here&#8217;s How Much It&#8217;d Be Worth When He Said &#8216;Never Sell Your BTC&#8217;</a>
Why It Matters: Amazon&#8217;s <a href="https://www.benzinga.com/news/earnings/24/08/40114662/amazon-q2-earnings-highlights-revenue-miss-eps-beat-q3-guidance-and-more">second-quarter earnings</a> report, released on Thursday, showed a 10% year-over-year increase in net sales to $148 billion, which missed the Street&#8217;s consensus estimate of $148.56 billion. The company&#8217;s third-quarter guidance and revenue miss led to a significant drop in its stock price.
Amazon has been facing other challenges as well. The <a href="https://www.benzinga.com/news/24/07/40061048/e-commerce-giant-amazon-ordered-to-recall-over-400k-hazardous-products-sold-on-its-site-by-us-federa">U.S. Consumer Product Safety Commission recently ordered Amazon</a> to recall over 400,000 hazardous products sold on its platform. The company has also been struggling to meet its sustainability goals, with only about 19,000 electric delivery vans deployed as of 2023, <a href="https://www.benzinga.com/news/24/07/40066914/amazon-nowhere-close-to-its-100k-electric-delivery-vans-by-2030-target-heres-how-many-it-still-has-t">far from its target of 100,000 by 2030</a>.
Despite these challenges, Amazon&#8217;s acquisition of One Medical and its efforts to <a href="https://www.benzinga.com/news/24/07/39996940/google-cuts-ties-with-amazon-owned-one-medical-but-clarifies-it-is-not-due-to-e-commerce-giants-3-9b">expand its healthcare services</a> have been seen as a potential growth opportunity.
Price Action: Amazon.com Inc.&#8217;s stock closed at $184.07 on Thursday, down 1.56% for the day. In after-hours trading, the stock declined by 6.88%. Year to date, Amazon&#8217;s stock has risen by 22.77%, according to <a href="https://pro.benzinga.com/dashboard">data from Benzinga Pro</a>.
Read Next: 
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<li><a href="https://www.benzinga.com/news/24/07/40056448/us-army-halts-pay-for-soldier-imprisoned-in-russia-senior-defense-official-consequences-for-unaccept?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">US Army Halts Pay for Soldier Imprisoned in Russia — Senior Defense Official: Consequences For &#8216;Unacceptable Behavior&#8217; Will Mirror Those Faced By Private That Entered Kim Jong Un&#8217;s North Korea</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>

Guidance

AMZN

Amazon Says Trump Assassination Attempt And Paris Olympics Responsible For Lower Q3 Revenue Forecast, Shares Slide In After-Hours: 'Customers Only Have So Much Attention'

Bitcoin wobbled, Ethereum, Dogecoin slid Thursday as top cryptocurrency-based firms reported their earnings after market close.
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Cryptocurrency</td>
<td>Gains +/-</td>
<td>Price (Recorded 8:30 p.m. EDT)</td>
</tr>
<tr>
<td>Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)</td>
<td>+0.60%</td>
<td>$65,132.07</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>-0.85%</td>
<td>$3,206.21</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>-3.24%</td>
<td>$0.1188</td>
</tr>
</tbody>
</table>
</figure>
What Happened: Bitcoin dipped below $63,000 in the morning hours before clawing back to the $64,000 zone by afternoon. The choppy movement meant King Crypto was little changed in the day.&nbsp;
Ethereum slipped below $3,200, marking a drop of 10% since spot ETFs tracking the price of the asset went up for trading on stock exchanges.
MicroStrategy Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>), Marathon Digital Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MARA#NASDAQ">MARA</a>), and Coinbase Global Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>) reported their Q2 earnings after the closing bell, involving a tale of hits and misses.&nbsp;
Market liquidations hit a weekly high of $291 million, with liquidations of bullish leveraged bets accounting for 79% of the total.
Consequently, traders going long on Bitcoin dipped sharply in the last 24 hours, according to the Longs/Short Ratio indicator.
About 38% of the market is bullish on Bitcoin as of this writing, according to Coinglass, with 27% having a bearish view. About 35% of the participants are neutral.
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>Popcat (POPCAT)</td>
<td>+8.41%</td>
<td>$0.7183</td>
</tr>
<tr>
<td>AIOZ NETWORK (AIOZ)</td>
<td>+8.11%</td>
<td>$0.6123</td>
</tr>
<tr>
<td>Aave (AAVE)</td>
<td>+8.03%</td>
<td>$116.55</td>
</tr>
</tbody>
</table>
</figure>
The global cryptocurrency market stood at $2.33 trillion, rising 0.02% in the last 24 hours.
Stocks sank lower on Thursday. The Dow Jones Industrial Average plunged 494.82 points, or 1.21%, to finish at 40,347.97. The S&amp;P 500 plummeted 1.37% to close at 5,446.68, while the tech-focused Nasdaq Composite crashed 2.30% to close at 17,194.15. Both indexes recorded their best session since February.
The heavy sell-offs come following the release of <a href="https://www.benzinga.com/news/econ-s/24/08/40105503/weekly-jobless-claims-rise-to-2024-high-is-the-number-signal-or-noise-ahead-of-fridays-jobs-report">worse-than-expected jobless claims data</a> for the week ending July 27. Additionally, the manufacturing sector recorded the fourth straight month of contraction.&nbsp;
These weak macro indicators sparked fears of economic decline,&nbsp;
See More: <a href="https://www.benzinga.com/money/best-crypto-scanners">Best Cryptocurrency Scanners</a>
Analyst Notes: Widely-followed cryptocurrency analyst and trader Rekt Capital predicted that the BTC's ongoing correction won't be as long as the previous ones.
"The initial retrace inside the pattern took 5 weeks to bottom. The one after that took 4 weeks to bottom. This current one could take only 2-3 weeks to bottom," the trader projected.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://twitter.com/hashtag/BTC?src=hash&amp;ref_src=twsrc%5Etfw">#BTC</a> It&#39;s possible this current retrace won&#39;t take as long as the previous pullbacks The initial retrace inside the pattern took 5 weeks to bottom The one after that took 4 weeks to bottom This current one could take only 2-3 weeks to bottom<a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> <a href="https://twitter.com/hashtag/Crypto?src=hash&amp;ref_src=twsrc%5Etfw">#Crypto</a> <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> <a href="https://t.co/4q4AqIOESV">https://t.co/4q4AqIOESV</a> <a href="https://t.co/e9259YTgMl">pic.twitter.com/e9259YTgMl</a>
&mdash; Rekt Capital (@rektcapital) <a href="https://twitter.com/rektcapital/status/1819081548718919939?ref_src=twsrc%5Etfw">August 1, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Another popular name in the cryptocurrency circles, Ali Martinez, highlighted massive liquidations of bullish leveraged bets due to BTC's move below $63,000.&nbsp;
However, he cautioned short position traders that a rebound to $70,440 would wipe away $2.40 billion in downside bets.
<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 bunch of <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> bulls got rekt in this downswing. According to data from <a href="https://twitter.com/coinglass_com?ref_src=twsrc%5Etfw">@coinglass_com</a>, over $2.50 billion in leveraged long positions got liquidated as <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> dipped below $63,000! Now, bears are getting cocky. But nearly $2.40 billion in leveraged short positions will be… <a href="https://t.co/QHULbk8vWy">pic.twitter.com/QHULbk8vWy</a>
&mdash; Ali (@ali_charts) <a href="https://twitter.com/ali_charts/status/1819069989346771418?ref_src=twsrc%5Etfw">August 1, 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/24/08/40110137/mike-novogratz-predicts-kamala-harris-may-soon-embrace-crypto-in-light-of-donald-trumps-pr">Mike Novogratz Predicts Kamala Harris May Soon Embrace Crypto In Light Of Donald Trump&#8217;s Pro-Crypto Stance</a></li>
</ul>

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

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$DOGE

MARA

MSTR

Bitcoin Chops In $64K, Ethereum, Dogecoin Dip On Day Major Crypto Firms Reported Earnings: Analyst Says This Likely If King Crypto Rebounds To $70.4K

Apple Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) CEO&nbsp;Tim Cook&nbsp;continues to remain tight-lipped about the details of the &#8220;<a href="https://www.benzinga.com/news/24/06/39258186/apple-integrates-new-chatgpt-features-in-iphone-mac-and-ipad-sam-altman-thinks-you-will-really-like">commercial agreement</a>&#8221; between his company and ChatGPT-parent OpenAI.
What Happened: On Thursday, during <a href="https://www.benzinga.com/news/earnings/24/08/40116376/apple-q3-earnings-beat-expectations-tim-cook-highlights-breakthrough-ai-platform-installed-base-of-">Apple&#8217;s third-quarter earnings</a> call, Cook was asked about the revenue models surrounding partnerships like OpenAI by Bank of America analyst Wamsi Mohan.
Mohan also said that investors are keen to understand whether Apple Intelligence will drive more significant growth in Services over time, or if these partnerships will become the more substantial contributors.
See Also: <a href="https://www.benzinga.com/news/24/07/40003033/elon-musk-blocked-vampires-fame-james-wood-for-slamming-his-blocking-ban-now-the-actor-cant-stop-sin?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elon Musk Blocked &#8216;Vampires&#8217; Fame James Woods For Slamming His Blocking Ban, Now The Actor Can&#8217;t Stop Singing Praises Of The X Owner: &#8216;He Is A Champion Of Free Speech&#8217;</a>
&#8220;The monetization model, I don&#8217;t want to get into the terms of the commercial agreements because they are confidential between the parties. But I see both aspects as being very important. People want both,&#8221; Cook stated.
He also said that Apple Intelligence focuses on on-device processing and private cloud computing. &#8220;And a lot of that will be things with a personal context.&#8221;
For broader world knowledge, Apple is initially integrating with ChatGPT, which will handle information beyond the personal scope, Cook added.
Subscribe to the&nbsp;<a href="https://bztechtrends.beehiiv.com/subscribe" target="_blank" rel="noreferrer noopener">Benzinga Tech Trends newsletter</a>&nbsp;to get all the latest tech developments delivered to your inbox.
Why It Matters: Apple&#8217;s partnership with OpenAI was <a href="https://www.benzinga.com/news/24/06/39256948/tim-cook-announces-apple-intelligence-for-iphones-calls-it-next-big-step-tremendously-excited">announced at the WWDC 2024</a>. The collaboration, which integrated ChatGPT into Siri and new writing tools, is expected to offer an advanced chatbot to consumers.
However, the partnership did not reportedly <a href="https://www.benzinga.com/news/24/06/39304229/apple-and-openai-chatgpt-partnership-wont-include-cash-payments-for-now-but-does-it-mean-you-will-ne">involve any cash payments</a> from Apple to OpenAI, as the exposure of ChatGPT-maker&#8217;s brand and technology to Cupertino&#8217;s extensive user base was deemed of equal or greater value.
The partnership was also <a href="https://www.benzinga.com/news/24/06/39264633/as-elon-musk-blasts-apples-partnership-with-chatgpt-parent-openai-analysts-say-theres-definitely-an">not without controversy</a>, with Tesla and SpaceX CEO Elon Musk publicly criticizing the collaboration over concerns about data security and privacy issues.
Earlier, Apple also <a href="https://www.benzinga.com/news/24/06/39271592/apple-may-introduce-google-gemini-ai-model-for-iphone-mac-and-ipad-says-craig-federighi">revealed plans to integrate</a> Alphabet Inc.&#8217;s Google Gemini AI model into its Apple Intelligence feature set, providing users with a wider range of AI models. The company is reportedly <a href="https://www.benzinga.com/news/24/07/39568584/apple-ai-partnership-with-google-set-for-fall-mark-gurman-says-hes-heard-from-several-sources-the-de">considering an AI partnership</a> with Anthropic.
Meanwhile, Apple&#8217;s third-quarter earnings surpassed expectations. The company&#8217;s revenue grew by 4.9%, reaching $85.78 billion for the three months ending June 29. This figure exceeded the average analyst estimate of $84.53 billion, according to&nbsp;<a href="https://benzinga.grsm.io/register174" target="_blank" rel="noreferrer noopener">Benzinga Pro data.</a>
Price Action: At the time of writing, Apple shares were slightly up during the after-hours session at $219.60. The stock closed Thursday&#8217;s session down 1.68%, finishing at $218.36.
Check out more of Benzinga's Consumer Tech coverage by&nbsp;<a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
Read Next:&nbsp;
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<li><a href="https://www.benzinga.com/news/24/07/39976337/elon-musk-and-stephen-king-entangle-again-on-x-this-time-horror-king-challenges-techno-king-to-a-jok?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elon Musk And Stephen King Entangle Again On X: This Time Horror King Challenges Techno King To A Joke-Off</a></li>
</ul>
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Tim Cook Doesn't Cough Up Details On Apple And OpenAI Partnership, But Says Customers Want Both Apple Intelligence And ChatGPT Integration

An American Airlines (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAL#NASDAQ">AAL</a>) flight from Seattle to Dallas was forced to make an unexpected landing in Salt Lake City due to a passenger&#8217;s erratic and violent behavior, according to <a href="https://www.benzinga.com/markets/cannabis/23/07/33185262/leader-of-13m-illegal-cannabis-operation-argues-federal-law-protects-him-more-in-weed-chronicles">federal prosecutors. </a>
<a href="https://www.sacbee.com/news/nation-world/national/article290654789.html">As per</a> The Sacramento Bee, the passenger, Eric Nicholas Gapco, from Delanco, New Jersey, claimed he consumed "approximately ten marijuana edibles" before the flight.
See Also: <a href="https://www.benzinga.com/markets/cannabis/23/04/31856196/middle-aged-woman-with-fnd-swaps-wheelchair-for-roller-skates-using-marijuana-drones-delivering-">Middle-Aged Woman With FND Swaps Wheelchair For Roller-Skates Using Marijuana, Drones Delivering Drugs To Prisons &amp; More In Weed Chronicles</a>
Gapco's disruptive actions on July 18, began shortly after the flight took off. Refusing to remain in his seat, he attempted to occupy a flight attendant's seat and loudly propositioned another flight attendant for sex. He was also vaping, further disturbing the passengers and crew.
The situation escalated when Gapco locked himself in the airplane's bathroom and then tried to open the aircraft&#8217;s doors. He reportedly attempted to hand a bag of pills to another passenger. As his behavior became increasingly aggressive, the flight crew and several passengers had to restrain him with flexible restraints.
The flight was then diverted to Salt Lake City International Airport, where the 26-year-old Gapco was immediately taken into custody upon landing.
Despite being restrained, Gapco continued his erratic behavior at the airport, smashing the glass door of a holding cell. Authorities said that Gapco denied taking any illegal drugs or prescription medication.
However, he later said he consumed the marijuana edibles without knowing the THC content in each, according to a motion for his detention.
<h3 class="wp-block-heading">Legal Consequences</h3>
Gapco was indicted on July 31 on charges of interference with a flight crew and attempted damage to an aircraft. The U.S. Attorney's office confirmed that Gapco was also taken to a hospital for medical evaluation after his arrest, where he continued to be combative with medical staff and police officers, even spitting at an officer at one point.
As of his initial court appearance scheduled for August 1, Gapco's federal public defender has not responded to requests for comments. American Airlines has also not yet commented on the incident.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/markets/cannabis/23/05/31425637/what-are-cannabis-edibles-made-of-the-drug-effect-of-edible-marijuana">What Are Cannabis Edibles Made Of: The Drug Effect Of Edible Marijuana</a></li>
</ul>
Cover image created with AI.

Cannabis

Cannabis Edibles Gone Wrong? High Flyer's Door Forcing Drama And Assault Force Emergency Landing

The use of <a href="https://www.benzinga.com/cannabis">cannabis</a>, both for medical and recreational purposes, is rising across the United States. According to a study <a href="https://www.michiganmedicine.org/health-lab/data-shows-medical-marijuana-use-decreased-states-where-recreational-use-became-legal">published</a> by the University of Michigan (U-M), more than four million of these users are licensed medical cannabis patients, marking a six-fold increase since 2016.
<h3 class="wp-block-heading">Chronic Pain: The Leading Cause For Medical Cannabis Use</h3>
Kevin Boehnke, Ph.D., a pain researcher at U-M, revealed that the majority of these patients seek relief from chronic pain. &#8220;My studies have shown that people largely use cannabis for chronic pain,&#8221; said. &#8220;That's the most common reason that they obtain a medical cannabis license from the state that they live in.&#8221;
Patients are utilizing cannabis in various forms, such as edibles, smokables, tinctures and topical products. &#8220;They might eat, smoke, or use tincture, as well as rub a topical product on an inflamed joint or on their skin,&#8221; the researcher explained. &#8220;They also sometimes use it in place of other pain medications.&#8221;
<h3 class="wp-block-heading">Landscape And Potential Impact Of Rescheduling Cannabis</h3>
Cannabis is <a href="https://www.benzinga.com/topic/legal-cannabis">legal</a> for medical or non-medical use in 38 and 23 states, respectively. Despite its legal status in many states, it remains <a href="https://www.benzinga.com/markets/cannabis/24/02/36916329/is-marijuana-a-controlled-substance-wait-what-is-a-controlled-substance">classified as a Schedule I drug</a>, and subject to the most restrictive regulations. However, there is <a href="https://www.benzinga.com/topic/cannabis-reschedulingBenzinga">ongoing discussion about rescheduling</a> it to a Schedule III drug. &#8220;If cannabis is officially rescheduled, I think that that's a remarkable benefit in some ways for the scientific and medical community because it acknowledges that cannabis does have medical value,&#8221; Boehnke noted. &#8220;This can jumpstart some of those conversations that many clinicians and patients have been hesitant to have.&#8221;
<h3 class="wp-block-heading">Challenges in Cannabis Research Despite Potential Rescheduling</h3>
Rescheduling could ease some of the research constraints but won&#8217;t eliminate all obstacles. Boehnke added: &#8220;It doesn't make that much of a difference at this point scientifically because if cannabis remains the controlled substance, I, as a scientist, and my colleagues, as scientists, still can't access the products that are being sold in dispensaries because none of them have gone through the food and drug administration approval process.&#8221;
<h3 class="wp-block-heading">Rise of Delta-8 THC in States with Cannabis Restrictions</h3>
Boehnke also pointed out a growing trend in states where cannabis is not legal: the use of compounds like <a href="https://www.benzinga.com/topic/delta-8-thc">Delta-8 THC</a> derived from hemp. These are not regulated under the Controlled Substances Act or state marketplaces, raising concerns about contamination and inaccurate labeling.
<h3 class="wp-block-heading">Medical Cannabis Use Trends And Legislative Impact</h3>
Despite overall enrollment in medical cannabis programs increasing more than 600% since 2016, a study <a href="https://www.acpjournals.org/doi/10.7326/M23-2811">published</a> in Annals of Internal Medicine reveals that <a href="https://www.benzinga.com/topic/medical-cannabis">medical marijuana</a> use declined in states where recreational use was legalized. &#8220;These findings indicate the growing use of cannabis for medical purposes, but also that adult use laws may decrease rates of patient enrollment,&#8221; said Boehnke.
<h3 class="wp-block-heading">Study Highlights the Need for Better Surveillance Methods</h3>
The latest study was conducted with repeated measures of individuals with medical cannabis licenses and physicians authorizing cannabis licenses in the United States between 2020 and 2022. It included 39 jurisdictions, and found a 33% increase in enrollments for those years. However, the results also revealed that in 13 of the 15 jurisdictions with adult non-medical use laws, the number of medical registrations decreased, and the proportion of qualified conditions reported by patients fell from 70.4% to 53.8%. The most common condition reported by patients was chronic pain, followed by anxiety and post-traumatic stress disorder.
The study highlights the need for improved monitoring methods to understand the outcomes of medical cannabis use and for thoughtful public health efforts to reduce the harms of increased cannabis availability.

Psychedelics

Medical Cannabis Patients Increased Sixfold In Six Years, Declined In States Where Recreational Use Was Legalized

Former President, Donald Trump, has targeted President Joe Biden with criticism, this time over the recent <a href="https://www.benzinga.com/news/24/08/40101351/russia-frees-wsj-reporter-evan-gershkovich-and-ex-marine-paul-whelan-in-major-prisoner-swap-with-us">historic prisoner exchange with Russia.</a>
What Happened: Trump used the detention of Americans Evan Gershkovich and Paul Whelan in Russia as a point of attack against Biden, accusing him of failing to secure their release, especially during his reelection campaign. Trump&#8217;s criticism persisted even after Thursday&#8217;s prisoner swap, which resulted in the liberation of these men and two other U.S. prisoners, <a href="https://abcnews.go.com/International/trump-lashes-biden-historic-prisoner-exchange-russia-freed/story?id=112477541">reported</a> ABC News.
White House officials have clarified that the deal did not involve a cash exchange. However, Trump, in a post on Truth Social, questioned this claim without providing any specific details. He has previously made unverified claims that the U.S. has given Iran billions of dollars in cash.
Reacting to Trump&#8217;s repeated assertions that he could have secured the hostages&#8217; release without any concessions, Biden responded, &#8220;Why didn&#8217;t he do it when he was president?&#8221;
Secretary of State Anthony Blinken shared a post on X, featuring a phone call with the released prisoners from his official plane. &#8220;We are so happy that you&#8217;re out and on the way home,&#8221; he said.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">I got the chance to speak with Evan, Paul, and Alsu on their way home to the United States today. We couldn't be happier to welcome them back home to be with their families again. <a href="https://t.co/gRE6mpN3Te">pic.twitter.com/gRE6mpN3Te</a>
&mdash; Secretary Antony Blinken (@SecBlinken) <a href="https://twitter.com/SecBlinken/status/1819146650289324152?ref_src=twsrc%5Etfw">August 1, 2024</a></blockquote>
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The president also shared some posts on X, one where he was seen engaging with the families of the former Russian prisoners and another where she shared their group photo on the plane back home. He said they endured &#8220;unimaginable suffering.&#8221;
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">After enduring unimaginable suffering and uncertainty, the Americans detained in Russia are safe, free, and have begun their journeys back into the arms of their families. <a href="https://t.co/1rYNBTt9tJ">pic.twitter.com/1rYNBTt9tJ</a>
&mdash; President Biden (@POTUS) <a href="https://twitter.com/POTUS/status/1819068590680682579?ref_src=twsrc%5Etfw">August 1, 2024</a></blockquote>
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Today, I stood beside the families of Paul, Evan, Alsu, and Vladimir in the Oval Office as they spoke to their loved ones for the first time since they regained freedom. These families never lost hope. And today, they&#39;ll each be reunited with the missing piece of their soul. <a href="https://t.co/v4Sv4fxsPd">pic.twitter.com/v4Sv4fxsPd</a>
&mdash; President Biden (@POTUS) <a href="https://twitter.com/POTUS/status/1819058362698400016?ref_src=twsrc%5Etfw">August 1, 2024</a></blockquote>
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See Also: <a href="https://www.benzinga.com/general/politics/24/07/40070258/trump-vs-harris-election-forecaster-with-9-out-of-10-accurate-predictions-gives-this-candidate-t?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Trump Vs. Harris: Election Forecaster With 9 Out Of 10 Accurate Predictions Gives This Candidate The Edge</a>
Why It Matters: Trump&#8217;s remarks about the detained Americans have been part of a continuous exchange dating back to his term in office. This has occasionally drawn criticism from the hostages&#8217; family members, who have expressed disappointment over Trump&#8217;s inaction during his presidency.
Trump did not comment on Gershkovich&#8217;s situation until an April 12, 2024 interview with Time Magazine, more than a year after his March 29, 2023 arrest. In a May Truth Social post, Trump claimed Gershkovich &#8220;will be released almost immediately after the Election, but definitely before I assume Office.&#8221;
The recent prisoner exchange with Russia has been a significant event, with the release of 16 individuals, including Wall Street Journal reporter Evan Gershkovich and former U.S. Marine Paul Whelan, as reported by Benzinga. Some of these individuals <a href="https://www.benzinga.com/news/24/08/40120812/kamala-harris-spoke-to-alexey-navalnys-widow-after-prisoner-release-some-freed-worked-with-oppositio">were collaborators</a> with Alexey Navalny in his fight against corruption, as stated by Vice President Kamala Harris in a post.
However, the exchange has also sparked controversy, with senators <a href="https://www.benzinga.com/markets/cannabis/24/08/40111778/russia-prisoner-swap-senators-demand-inclusion-of-cannabis-prisoner-marc-fogel-mom-takes-antony-">demanding the inclusion</a> of Pennsylvania's Marc Fogel, who is imprisoned in Russia for cannabis possession, in the deal.
Photo Courtesy: Shutterstock.com
Did You Know?
<ul>
<li>Congress Is Making Huge Investments. <a href="https://www.benzinga.com/gov-trades/?utm_source=BZprocontent080101">Get Tips On What They Bought And Sold Ahead Of The 2024 Election With Our Easy-to-Use Tool</a></li>
</ul>
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/author/shivdeep-dhaliwal" target="_blank" rel="noreferrer noopener">Shivdeep Dhaliwal</a>

Politics

General

Trump Slams Russia Prisoner Exchange: 'We Never Make Good Deals' — Biden Responds, 'Why Didn't He Do It When He Was President?'

A recent clinical trial has identified potential therapeutic benefits of cannabigerol (CBG), a cannabinoid that has not been as widely studied as THC or <a href="https://www.benzinga.com/markets/cannabis/24/03/37629667/time-is-still-the-enemy-says-mom-who-moved-mountains-for-her-epileptic-daughter-still-advocates-">CBD. </a>
The study, conducted by researchers at Washington State University (WSU) and the University of California, Los Angeles (UCLA), indicates that CBG may significantly reduce anxiety and stress, and could also improve memory.
See Also: <a href="https://www.benzinga.com/markets/cannabis/23/01/30523890/cbg-the-mother-cannabinoid-may-hold-key-to-treating-nonalcoholic-fatty-liver-disease-symptoms">CBG: The &#8216;Mother Cannabinoid&#8217; May Hold Key To Treating Nonalcoholic Fatty Liver Disease Symptoms</a>
<h3 class="wp-block-heading">CBG's Impact On Anxiety And Stress</h3>
Published in the journal Scientific Reports, the<a href="https://www.nature.com/articles/s41598-024-66879-0"> research</a> involved a double-blind, placebo-controlled field trial with 34 healthy adults.
Participants received either 20mg of hemp-derived CBG or a placebo tincture over two sessions. They completed online assessments before and after taking the cannabinoid, including surveys on anxiety and stress, as well as verbal memory tests.
The study found that CBG led to &#8220;significant overall reductions in anxiety as well as reductions in stress&#8221; compared to the placebo. Additionally, participants who took CBG showed enhanced verbal memory, which the researchers noted was &#8220;completely, entirely unexpected.&#8221;
Carrie Cuttler, lead author and WSU associate professor of psychology, <a href="https://news.wsu.edu/press-release/2024/07/31/cannabinoid-cbg-reduces-anxiety-and-stress-in-first-human-clinical-trial/">said</a> in a press release: &#8220;We triple-checked to ensure accuracy, and the enhancement was statistically significant.&#8221; 
&#8220;The finding that it significantly enhanced [memory] was kind of shocking to me and completely, entirely unexpected, which was why I triple-checked the direction and the result,&#8221; Cuttler added.
<h3 class="wp-block-heading">Future Research Directions: What's Next for CBG?</h3>
Cuttler stressed that while the results are promising, further research is needed to confirm these findings and explore CBG&#8217;s full range of effects. &#8220;Replication and further research are crucial,&#8221; she said.
The trial&#8217;s results were informed by a prior survey in which 51% of CBG users reported using CBG to alleviate anxiety, with nearly 80% finding it more effective than traditional anxiety medications.
Cuttler is seeking approval for a follow-up clinical trial to be conducted in a laboratory setting to verify these findings and assess CBG's physiological impacts. She is also exploring potential research on CBG&#8217;s effects on menopause symptoms.
Read Next: <a href="https://www.benzinga.com/markets/cannabis/22/05/26397585/cbg-mania-what-are-the-best-ways-to-use-and-consume-cbg">CBG Mania &#8211; What Are The Best Ways To Use And Consume CBG</a>
Cover image made with AI.

Health Care

First-Ever Human Trial Finds CBG Reduces Anxiety And Boosts Memory

Psilocybin and <a href="https://www.benzinga.com/markets/psychedelics">psychedelics</a> in general are substances that have been with us for decades. But in its recent history one particular milestone marks a before and after: the legalization of cannabis for recreational use in Colorado in 2014. 
Today, <a href="https://www.benzinga.com/markets/cannabis/24/01/36460124/colorados-pioneering-role-in-legal-cannabis-10-years-on-impact-on-economy-health-and-public-poli">ten years later</a>, more than 100 million adults in the United States have gone from not having legal access to cannabis to being able to get what they need at their local dispensary. While the <a href="https://www.benzinga.com/topic/cannabis-rescheduling">rescheduling of cannabis</a> is being discussed, the legalization conversation is now turning to psychedelics, where both promising scenarios and specific challenges arise simultaneously.
<h3 class="wp-block-heading">The Hype Around Psilocybin and Psychedelics</h3>
It is not news that psilocybin is at the forefront of <a href="https://www.benzinga.com/topic/psychedelic-assisted-therapies">mental health treatment research</a>, with a burgeoning economy connected to it. The global psychedelic drug market, valued at $2.9 billion in 2023, is expected to grow to $8.7 billion by 2033, driven by substantial financial investments into psilocybin research and supporting institutions, including the following:
<ul>
<li>Leading Universities: Institutions like Johns Hopkins have established centers dedicated to psychedelic research. Johns Hopkins&#8217; Center for Psychedelic and Consciousness Research was launched with a $17 million donation from private donors.</li>
<li>Research Studies: Between 2019 and 2024, there have been 104 studies on psilocybin, backed by millions in grant money.</li>
<li>Investment: Year 2023 saw over $2.5 billion in <a href="https://www.benzinga.com/topic/psychedelics-investing">investments </a>in the psychedelic sector, with significant contributions from billionaires like PayPal co-founder Peter Thiel.</li>
</ul>
<h3 class="wp-block-heading">The Economic Burden of Mental Health Disorders</h3>
While significant, investment in psychedelics research is minimal compared to the annual cost of mental health problems in the U.S., estimated at $282 billion. Disorders such as depression, PTSD and substance abuse place a considerable burden on businesses, the healthcare system and the economy as a whole. These costs make a strong case for investing in psychedelic treatments.
<h3 class="wp-block-heading">Psychedelic Therapy</h3>
Despite the promises, no psychedelic drug has received FDA approval to treat psychiatric disorders because of the associated risks. However, providers continue to offer psychedelic-based therapy, which consists of sessions with trained clinicians. Treatments can be costly, which could limit access to psychedelic therapy if these drugs receive FDA approval, highlighting the rush by entrepreneurs to profit from the treatments.
In contrast, as noted by the National Institute on Drug Abuse (NIDA), illicit psychedelics sold on the street are relatively inexpensive and have are gaining in popularity among young adults.
<h3 class="wp-block-heading">Accessibility And Legality</h3>
As the debate on expanding legal access to psychedelics evolves, public discourse about a retail psychedelic market remains sparse. Most debates focus on therapy, religious exemptions or supervised retreats. However, these segmented approaches still leave many without access. Not everyone can get a prescription, afford supervised programs, or feel compelled to join a religious group for exemptions. Decriminalizing psychedelics alone won&#8217;t significantly broaden access either.
<h3 class="wp-block-heading">The State of Psychedelic Retail Conversations</h3>
Ten years after Colorado, Beau Kilmer, co-director of the RAND Drug Policy Research Center, observes similar early movements in state psychedelic policies. As states allocate funds toward research and discuss legalization, the question of retail psychedelics has quietly emerged.
&#8220;State policymakers, whether they like it or not, are going to start confronting these conversations,&#8221; Kilmer <a href="https://www.vox.com/future-perfect/360200/how-to-buy-psychedelics-lsd-shrooms-stores">told</a> Vox.
Retail sales might fill these gaps, but the idea raises concerns among advocates due to the inherent risks of psychedelics and the potential for a hasty rollback to prohibition if commercialization goes awry.
<h3 class="wp-block-heading">Exploring Retail Models For Psychedelics</h3>
So, what are the possible retail models? A RAND report, along with Transform Drug Policy Foundation's "<a href="https://transformdrugs.org/publications/how-to-regulate-psychedelics">How to Regulate Psychedelics</a>," outlines four possibilities, based on the models already in use for cannabis:
Government Monopoly: Similar to how some states handled alcohol post-Prohibition, this model could ensure product safety and limit aggressive marketing.
Non-Profits or For-Benefit Corporations: This approach limits licenses to organizations with public health or equity goals, potentially balancing commercial excesses.
Social Clubs: Modeled after cannabis social clubs in countries like Uruguay and Spain, these provide on-site locations for purchase and use, integrating community support.
For-Profit Sales: The dominant model in the US cannabis market, it introduces competition but also risks aggressive marketing and regulatory pushback.
<h3 class="wp-block-heading">Regulatory and Design Considerations</h3>
Beyond similarities, Kilmer points out key differences between cannabis and psychedelics, as psychedelic consumers are less price-sensitive, supervised use is more common, and infrequent users dominate the market.
Success in any model hinges on various considerations: who manufactures and ensures quality control, packaging regulations, informed consent communication, public education strategies, advertising limits, dosage restrictions and harm reduction information.
<h3 class="wp-block-heading">New York's Psychedelic Permit Proposal</h3>
A potentially balanced approach comes from New York State Rep. Amy Paulin. Her <a href="https://www.nysenate.gov/legislation/bills/2023/A10375#:~:text=Allows%20the%20growth%2C%20cultivation%2C%20and%20regulated%20adult%20use%20of%20psilocybin,and%20the%20licensure%20of%20cultivators.">bill</a> proposes a permit system for psilocybin, requiring health screenings, an educational course and a test. Permit holders could buy from licensed vendors and grow mushrooms at home. This model adds protection by focusing on licensed consumers, emphasizing safety while expanding access.
<h3 class="wp-block-heading">The Path Forward</h3>
Kilmer emphasizes the need for more data and analysis. "Once I really started digging in and crunching the numbers, I realized that a lot of the data we need just doesn't exist," he said. With retail legislation already in progress, rapid data collection and thoughtful regulation are critical.
Cover image made with AI

Accessibility And Legality: Psychedelic's Path A Decade After Colorado's Legalization

The latest development in the Venezuelan presidential election saga sees Elon Musk, responding to the U.S. Department of State&#8217;s assessment of the election with a single word, &#8220;Good&#8221;.
What Happened: On Thursday, Antony Blinken, U.S. Secretary of State, released a statement evaluating the Venezuelan presidential election that took place on July 28. Despite acknowledging the Venezuelan people&#8217;s participation amidst significant challenges, Blinken criticized the vote processing and result announcement by the Maduro-controlled National Electoral Council (CNE) as &#8220;deeply flawed&#8221;.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Good <a href="https://t.co/4DuDILvb5p">https://t.co/4DuDILvb5p</a>
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1819168277815611870?ref_src=twsrc%5Etfw">August 2, 2024</a></blockquote>
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Blinken&#8217;s statement also questioned the CNE&#8217;s hasty declaration of Nicolás Maduro as the winner, citing a lack of supporting evidence and credibility. The democratic opposition&#8217;s tally sheets suggested that Edmundo González Urrutia received the most votes, a fact supported by independent observers, election day exit polls, and quick counts.
&#8220;Given the overwhelming evidence, it is clear to the United States and, most importantly, to the Venezuelan people that Edmundo González Urrutia won the most votes in Venezuela's July 28 presidential election,&#8221; said Blinken in the statement.
Musk&#8217;s response to Blinken&#8217;s statement was a brief &#8220;Good&#8221;.
See Also: <a href="https://www.benzinga.com/news/24/07/40027252/trump-white-house-official-john-bolton-says-jd-vance-may-have-youth-factor-but-highlights-ex-preside?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Trump White House Official John Bolton Says JD Vance May Have &#8216;Youth Factor&#8217; But Highlights Ex-President&#8217;</a>
The U.S. Department of State also dismissed Maduro&#8217;s allegations against opposition leaders and called for the protection of democratic opposition leaders and members. It congratulated González Urrutia on his successful campaign and expressed support for the process of re-establishing democratic norms in Venezuela.
Why It Matters: The Venezuelan presidential election has been a contentious issue, with Maduro&#8217;s declared victory facing intense criticism and allegations of fraud. <a href="https://www.benzinga.com/government/24/07/40052593/tensions-rise-in-venezuela-as-opposition-disputes-election-results-impact-on-oil-etfs">Tensions have been escalating</a>, with thousands rallying in support of González's victory.
Musk has been vocal about his views on the election, previously calling it a &#8220;travesty&#8221; and accusing Maduro of &#8220;major election fraud&#8221;. <a href="https://www.benzinga.com/news/24/07/40003819/elon-musk-calls-venezuela-elections-a-travesty-as-nicolas-maduro-wins-third-term-amid-fraud-allegatihttps://www.benzinga.com/news/24/07/40012327/us-expresses-serious-concern-as-both-venezuelan-president-nicolas-maduro-and-opposition-claim-electi">His accusations</a> led to a heated exchange with Maduro, who challenged Musk to a fight. Musk responded with a counter-challenge, stating that if he won, Maduro would have to resign, and if Maduro won, Musk would give him a free ride to Mars.
Image via Shutterstock
Check This Out:
<ul>
<li>Lawmakers Made Huge Investments This Year. <a href="https://www.benzinga.com/gov-trades/?utm_source=BZprocontent080101">Get Tips On What They Bought And Sold Ahead Of The 2024 Election With Our Easy-to-Use Tool</a></li>
</ul>
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/author/shivdeep-dhaliwal" target="_blank" rel="noreferrer noopener">Shivdeep Dhaliwal</a>

TSLA

Elon Musk Says 'Good' That Biden Administration Declared Nicolás Maduro Rival As Venezuela Election Winner

Cannabis activists in Arkansas submitted more than <a href="https://www.benzinga.com/markets/cannabis/24/07/39670995/medical-marijuana-initiative-in-arkansas-gathers-more-than-enough-signatures-to-place-it-on-nov-">111,000 petition signatures</a> by the July 5 deadline in order to place an initiative to expand medical marijuana access on the <a href="https://www.benzinga.com/topic/2024-election">November 2024 ballot</a>. However, Secretary of State John Thurston said advocates didn't collect enough valid petitions, <a href="https://arkansasadvocate.com/2024/07/31/anti-casino-amendment-makes-arkansas-ballot-cannabis-group-gets-more-time/">reported</a> Arkansas Advocate.
In a Wednesday letter to Arkansans for Patient Access (APA), Thurston's office said supporters submitted fewer than 77,000 valid signatures.
Even though the campaign fell short of the 90,704-signature requirement, advocates now have 30 more days, or until August 30, to reach that goal.
Read Also: <a href="https://www.benzinga.com/markets/cannabis/24/05/38618717/selling-over-1800-expired-cannabis-products-cost-this-arkansas-dispensary-its-license-owner-plan">Selling Over 1800 Expired Cannabis Products Cost This Arkansas Dispensary Its License, Owner Plans To Appeal </a>
<figure class="wp-block-image size-full"><a href="https://www.benzinga.com/events/cannabis-conference/"><img loading="lazy" decoding="async" width="970" height="250" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/01112029/CCC-Oct-24-Banner-1-1-1.gif" alt="" class="wp-image-470821" /></a></figure>
<h3 class="wp-block-heading">Here's What The Initiative Seeks To Change</h3>
The initiative seeks to allow more healthcare professionals, including medical and osteopathic doctors, nurse practitioners, physician's assistants and pharmacists to prescribe marijuana to patients.
Under the policy change, additional medical conditions for which medical cannabis can be prescribed will be added to the existing medical cannabis program in the state. More precisely, any condition that a "health care practitioner considers debilitating to a patient that might be alleviated by the use of usable marijuana."
Non-Arkansas residents would also be eligible to get a medical cannabis card under the measure. The card&#8217;s expiration date would be extended from one to three years.
The measure&#8217;s trigger provision would put an end to cannabis prohibition statewide in the event of the plant&#8217;s legalization on the federal level.
Medical cannabis use was legalized in Arkansas in 2016. Product sales began in 2019.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/markets/cannabis/23/10/35118223/atf-concerns-emerge-over-arkansas-medical-marijuana-and-concealed-carry-gun-laws">ATF Concerns Emerge Over Arkansas&#8217; Medical Marijuana And Concealed Carry Gun Laws</a></li>
</ul>

Government

Regulations

Medical Cannabis Initiative Gets More Time To Gather Signatures For Arkansas Ballot

Vice President Kamala Harris has expressed her support for Yulia Navalnaya and her commitment to those fighting for freedom in Russia, following a <a href="https://www.benzinga.com/news/24/08/40101351/russia-frees-wsj-reporter-evan-gershkovich-and-ex-marine-paul-whelan-in-major-prisoner-swap-with-us">significant prisoner exchange</a>.
What Happened: On Thursday, Harris posted about her conversation with Yulia Navalnaya, widow of Alexey Navalny on X. This followed a major prisoner exchange between the US and Russia, which saw the release of 16 individuals detained in Russia. Some of these individuals were collaborators with Navalny in his fight against corruption, according to Harris.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">I spoke with Yulia Navalnaya, widow of Alexey Navalny, following the release, as a result of our prisoner exchange, of 16 individuals detained in Russia. Some of them worked with Navalny to combat corruption and build a free, democratic Russia. I thanked Yulia for her courage in… <a href="https://t.co/rpN3Y0QP86">pic.twitter.com/rpN3Y0QP86</a>
&mdash; Vice President Kamala Harris (@VP) <a href="https://twitter.com/VP/status/1819135535677321708?ref_src=twsrc%5Etfw">August 1, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
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See Also: <a href="https://www.benzinga.com/news/24/07/40026875/trump-vp-pick-jd-vance-blasted-by-fellow-ohio-rep-landsman-one-of-the-cruelest-most-chaotic-and-down?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Trump VP-Pick JD Vance Blasted By Fellow Ohio Rep. Landsman: &#8216;One Of The Cruelest, Most Chaotic And Downright Weirdest&#8217; Campaign</a>
Harris thanked Navalnaya for her courage in continuing her husband&#8217;s work and reaffirmed her commitment to stand with those fighting for freedom in Russia and around the world. After the death of Alexei Navalny, his widow, Yulia Navalnaya, vowed to <a href="https://www.benzinga.com/news/24/02/37210915/i-will-continue-to-fight-for-russia-vows-alexei-navalnys-widow">continue the fight</a> against President Vladimir Putin, whom she blamed for her husband&#8217;s death. She urged supporters to unite against the Putin administration, promising to personally carry on Navalny&#8217;s campaign despite the regime&#8217;s brutality.
Why It Matters: The prisoner exchange is a significant development in U.S.-Russia relations. Among those released were Wall Street Journal reporter Evan Gershkovich and former U.S. Marine Paul Whelan, who were <a href="https://www.benzinga.com/government/24/07/39864195/wsj-reporter-evan-gershkovich-gets-18-year-sentence-in-russia-employer-calls-trial-a-sham">imprisoned in Russia</a> on espionage charges refuted by both the individuals and the U.S.
Also released was Vladimir Kara-Murza, a critic of President Vladimir Putin's rule and a dual Russian-British citizen, who was sentenced to a record 25-year prison term last year on charges of treason and other offenses related to his criticism of Russia's invasion of Ukraine.
There were also <a href="https://www.benzinga.com/markets/cannabis/24/08/40111778/russia-prisoner-swap-senators-demand-inclusion-of-cannabis-prisoner-marc-fogel-mom-takes-antony-">calls from senators</a> for the inclusion of Pennsylvania's Marc Fogel, a teacher imprisoned in Russia for cannabis possession, in the prisoner exchange deal.
Image via Shutterstock
Did You Know?
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<li>Congress Is Making Huge Investments. <a href="https://www.benzinga.com/gov-trades/?utm_source=BZprocontent080101">Get Tips On What They Bought And Sold Ahead Of The 2024 Election With Our Easy-to-Use Tool</a></li>
</ul>
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/author/shivdeep-dhaliwal" target="_blank" rel="noreferrer noopener">Shivdeep Dhaliwal</a>

Kamala Harris Spoke To Alexey Navalny's Widow After Prisoner Release: Some Freed Worked With Opposition Leader To 'Build A Free, Democratic Russia'

Warren Buffett, the Oracle of Omaha, is known worldwide not only for his investment acumen but also for the wisdom he imparts to the business world. Among his many <a href="https://www.benzinga.com/general/health-care/15/05/5472280/ive-followed-warren-buffett-for-decades-and-these-10-quotes-are-wh">pieces of advice</a>, one stands out: choosing the right heroes.&nbsp;
What Happened: In Roger Lowenstein's book, Buffett: The Making of An American Capitalist, Buffett spoke about the significance of his role models.&nbsp;
"The best thing I did was to choose the right heroes," he stated, adding, "It comes from Graham."
Benjamin Graham, Buffett's mentor at Columbia University, often referred to as the father of value investing, had a huge impact on Berkshire Hathaway's chair. 
Graham's teachings were not just about making money but about living a principled and disciplined life. Buffett absorbed these lessons and carried them forward, shaping the ethos of Berkshire Hathaway.
Buffett's father, Howard Buffett, also played a crucial role. Howard Buffett was a U.S. Congressman and a businessman. Although Howard passed away in 1964, Buffett still keeps a portrait of his father in his Omaha office.
"I still wonder how he would feel about anything I do," Buffett once told Gillian Zoe Segal, author of the book Getting There.
See Also: <a href="https://www.benzinga.com/personal-finance/24/07/40073339/advice-from-warren-buffett-that-everyone-needs-to-hear-write-your-obituary">Advice From Warren Buffett That &#8216;Everyone Needs To Hear&#8217;: &#8216;Write Your Obituary&#8217;</a>
Why It's Important: At the 2024 Berkshire Hathaway annual meeting, Buffett further spoke about this idea.&nbsp;
"You want to have the right heroes, and you don&#8217;t have to have them based on what they&#8217;ve accomplished. It&#8217;s the people that you want to be yourself," he stated.&nbsp;
"If you copy the right people, you&#8217;re off to a great start, and I don&#8217;t mean a great start about making money; I mean a great start about living your life."
<figure class="wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio"> 
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<iframe loading="lazy" title="Warren Buffett on picking the right heroes in life" width="500" height="281" src="https://www.youtube.com/embed/-iCY7O0Op4M?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen></iframe>
</div>
</figure>
The Oracle of Omaha currently has a net worth of $139 billion, making him the tenth richest person in the world, according to the Bloomberg Billionaire <a href="https://www.bloomberg.com/billionaires/">Index</a>.
Read Next: 
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<li><a href="https://www.benzinga.com/personal-finance/24/08/40106860/warren-buffetts-wife-susan-said-he-feels-women-all-over-the-world-get-shortchanged-hes-all-for-l">Warren Buffett&#8217;s Wife Susan Said He Feels &#8216;Women All Over The World Get Shortchanged&#8217; – He&#8217;s All For Leveling The Playing Field</a></li>
</ul>
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Warren Buffett Once Said That The 'Best Thing' He Did Was Choose 'The Right Heroes' — Who Was Berkshire Hathaway Chair's Biggest Role Model?

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Companies leading the effort to collect battery metals from the bottom of the ocean say seabed <a href="https://www.benzinga.com/topic/mining">mining</a> is inevitable despite high-profile environmental concerns.
The battle is over the trillions of nodules littering the sea floor outside of the jurisdiction of any single nation. They contain manganese, nickel, cobalt and copper, all of which are either used in electric vehicle batteries, grid scale energy storage or other green technology like wind turbines and solar arrays.
Covering more than half of the total area of the world's oceans, the international area in question is governed by the 1982 United Nations Convention on the Law of the Sea and its organizational arm, the International Seabed Authority.
The authority is debating rules for deep sea mining at a meeting in Jamaica scheduled to conclude Friday with a vote on a new secretary general who will oversee the body in a four-year term to start on Jan. 1. 
The contest is between a candidate seen as more friendly to conservationists and the incumbent who is considered more pro-mining.
Also Read: <a href="https://www.benzinga.com/government/24/07/39894362/exclusive-impossible-metals-ceo-says-presale-agreements-quite-attractive-for-funding-deep-sea-projec">EXCLUSIVE: Impossible Metals CEO Says Presale Agreements &#8216;Quite Attractive&#8217; For Funding Deep-Sea Projects Vs. IPO</a>
Craig Shesky, chief financial officer of The Metals Company (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TMC#NASDAQ">TMC</a>), told Benzinga he is fairly agnostic about who wins.
"No matter who's at the helm we are at the point of a snowball rolling downhill," he said. "There's nothing to stop it at this point. This is now inevitable."
Privately held Impossible Metals&#8216; CEO Oliver Gunasekara voiced a similar opinion in an interview with Benzinga, saying whether or not there's a change of leadership, it won't affect his company.
<h1 class="wp-block-heading">Working Toward 2025 Deadline</h1>
Perhaps more important than the outcome of the election are the rules for seabed mining being hashed out behind the scenes at the authority's meeting in Jamaica. The body is aiming to have those finalized by 2025.
A minority of member nations have voiced some level of opposition to seabed mining in international waters, ranging from France, who wants the practice banned, to nations who have called for a precautionary pause.
Many critics of seabed mining want to hold off on the practice until the environment at the bottom of the ocean is better understood.
<h1 class="wp-block-heading">Risks to Seafloor Debated</h1>
While it makes sense to have regulations that mitigate potential negative impacts to seafloor life, such as sediment plumes, an outright ban on seafloor mining would be similar to opposing any form of nuclear power, Gunasekara said.
Conservation groups in recent years have eased their stance on nuclear power, as it holds the potential to provide non-carbon-producing baseload electricity to the grid to fill in the gaps when wind and solar farms aren't able to produce energy.
Shesky also compares the seabed mining debate to the one about nuclear energy, saying that people will realize seabed mining is better than the alternative on land, which can destroy large swaths of habitat, such as forests.
"We're not really mining," Shesky said. "You're picking up rocks off the seafloor."
<h1 class="wp-block-heading">National Politics </h1>
The political brouhaha between pro-seabed mining countries such as Norway, China and Japan and detractors such as Chile and France is "driven by the extreme NGOs," Gunasekara said.
Shesky suggests Chile and France are against deep sea mining to protect their domestic mining industries. Chile is the largest producer of copper in the world, and the economy of France's overseas territory of New Caledonia is heavily reliant on nickel mining.
"Of course they don't want to do it," Shesky said.
Shesky says there is no legal basis for a moratorium as the seabed authority has a legal mandate to move forward.&nbsp;
Now Read:  • <a href="https://www.benzinga.com/news/24/05/38676813/future-of-deep-sea-mining-might-rest-on-international-seabed-authority-leadership-election" target="_blank" rel="noreferrer noopener">Future Of Deep-Sea Mining Might Rest On International Seabed Authority Leadership Election</a> 
Photo: Shutterstock

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