Dennis Rodman's trip to the North Korea summit may be funded by an obscure cryptocurrency used to buy marijuana ~ Financial Times

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Thursday, June 7, 2018

Dennis Rodman's trip to the North Korea summit may be funded by an obscure cryptocurrency used to buy marijuana

Former NBA basketball player Dennis Rodman arrives at Beijing Capital International Airport as he leaves for North Korea's Pyongyang, in Beijing, China, June 13, 2017.

Jason Lee | Reuters
Former NBA basketball player Dennis Rodman arrives at Beijing Capital International Airport as he leaves for North Korea's Pyongyang, in Beijing, China, June 13, 2017.
If former basketball star and de facto diplomat Dennis Rodman travels to Singapore next week for a summit between North Korea and the United States, a cryptocurrency company that lets you buy marijuana may be footing the bill.
Rodman's agent confirmed his interest in the Singapore trip to the Washington Post, saying he would provide "moral support" to President Donald Trump and Kim Jong Un.
The former Chicago Bulls player's past trips to North Korea have been paid for by the cryptocurrency company. During his 2017 trip, Rodman was photographed wearing a PotCoin T-shirt and baseball cap, sending the cryptocurrency up more than 90 percent from the previous day. It rose roughly 5 percent Thursday, trading near 10 cents, according to CoinMarketCap.com.
The U.S. has been pushing Pyongyang to abandon its nuclear programs, and the June 12 summit would mark the first time a sitting American president and North Korean leader meet face to face.

Rodman has been criticized for visits to North Korea in the past amidst the high political tension. In 2014, Rodman arranged a basketball game with other former NBA players and North Koreans, singing the North Korean dictator a rendition of "Happy Birthday."
A spokesman for PotCoin said it is "in discussions" with Rodman to facilitate this year's trip and that Rodman "deserves the Nobel Peace Prize jointly with President Trump and the Marshal Kim Jong Un," the Washington Post reported.
"The PotCoin team as a community has been incredibly supportive of Rodman's peace mission from the beginning," a PotCoin spokesman told The Washington Post. "We're thrilled to see how the political climate has improved between North Koreans and the U.S. since he became involved."
The currency, founded in Canada in 2014, is designed to give legalized cannabis dispensaries and farmers access to banking services.
PotCoin did not immediately respond to CNBC's request for comment.
Read the entire Washington Post piece here.

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