Cannabis licences are like tickets to enter a certain type of shop, where you can buy weed. In some places, these tickets are worth a lot of money because not many people are allowed to buy them. But in other places, they are worth less because it's easier to get one.

### CURT:
explanation like for 7 years old: Cannabis licences are like tickets to enter a certain type of shop, where you can buy weed. In some places, these tickets are worth a lot of money because not many people are allowed to buy them. But in other places, they are worth less because it's easier to get one.

### ASHLEY:
A cannabis license is like a special ticket that lets someone start a certain type of business. In some places, these tickets are worth a lot of money because not many people are allowed to have them. But in other places, they are worth less because it's easier to get one. Read from source...

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Neutral

Today's Sentiment: Bullish

Risk Level: Moderate

New Bitcoin Longs Exceed New Shorts Amid Concerns Over FTX Contagion

Investors added more new longs than new shorts in Bitcoin (BTC-USD) on Friday, according to data from Bybt. This development follows a short squeeze that was sparked by the liquidation of FTX-related Bitcoin holdings.

Although FTX, founded by Sam Bankman-Fried, collapsed earlier this month, and its coin, FTT (FTT-USD), experienced a massive plummet, new Bitcoin longs still outpaced new shorts as of Friday.

Bybt tracks daily positions on futures markets. If there is an increase in new longs, that means investors are speculating on higher Bitcoin prices. Conversely, if new shorts increase, it implies that investors are betting on lower prices.

According to Bybt data, the net increase in new long positions for Bitcoin was 1,162 contracts, while the net increase in new short positions was 1,045 contracts.

This development indicates that the market is still cautious about the impact of FTX's collapse on the overall crypto ecosystem, as new Bitcoin longs are higher than new shorts.

Despite the ongoing uncertainty, Bitcoin has managed to hold on to its gains in recent days, suggesting that the market may be starting to stabilize after the FTX debacle.

However, given the lingering contagion fears and the possibility of regulatory fallout from FTX's collapse, investors may still be hesitant to take on too much risk in the crypto market.

As a result, Bitcoin's price movements are likely to remain highly volatile in the coming weeks as the market continues to navigate through the aftermath of the FTX saga.

Today's Sentiment: Bullish

Risk Level: High

House Votes to Abolish IRS and Replace It With New Consumer-Friendly Tax System

The U.S. House of Representatives recently passed a bill aiming to abolish the Internal Revenue Service (IRS) and replace it with a new tax system. The bill, titled the “Fair Tax Act,” proposes replacing the current tax system with a consumption tax system that would only tax new goods and services.

Under the proposed system, the IRS would be abolished, and a new federal tax authority would be created to enforce the new tax system.

The Fair Tax Act has garnered significant attention from policymakers and tax experts, who argue that the current tax system is overly complex and burdensome for taxpayers. The new tax