Share this article
High Times Quietly Removes Crypto Payment Option From IPO Website
High Times has removed bitcoin as a payment option for its IPO, just days after admitting it was accepting the cryptocurrency.
By Nikhilesh De
Updated Sep 13, 2021, 8:23 a.m. Published Sep 18, 2018, 4:00 p.m.
Cannabis advocacy publication High Times is no longer accepting cryptocurrencies as a payment option for its ongoing initial public offering (IPO), CoinDesk has learned.
The twist marks the latest in the company's efforts to raise $50 million from accredited investors, which it announced last month.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
At the time, High Times said in a press release that it would accept bitcoin as a payment method for the fundraise. However, just days later the company reversed its stance in a filing to the U.S. Securities and Exchange Commission (SEC), saying that the press release announcing that bitcoin would be accepted "was distributed in error."
Despite this filing, the company continued to accept bitcoin and ethereum as payment options, a spokesperson later told CoinDesk, though the company did not hold any cryptocurrencies. Rather, a third-party processor converted the cryptocurrencies into U.S. dollars, which were then sent to High Times.
"They issued the release to make the SEC happy," the spokesperson said at the time.
Now, the bitcoin payment option has been removed entirely from the company's investors page.
It is unclear what caused the latest reversal. However, another SEC filing shows that the IPO – which was originally set to end on September 12 – has been extended through to October 31.
High Times had not responded to a request for further comment at press time.
Marijuana farm image via Shutterstock
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
Bitcoin gets 'base case' price target of $143,000 at Citigroup
The Wall Street bank said its bitcoin forecast relies on further crypto ETF inflows and a continued rally in traditional equity markets.
What to know:
- Citigroup's base case for bitcoin (BTC) is a rise to $143,000 in 12 months.
- Analysts highlight $70,000 as key support, with the potential for a sharp rise due to revived ETF demand and positive market forecasts.
- The bear case sees bitcoin falling to $78,500 amid a global recession, while the bull case predicts a rise to $189,000 due to increased investor demand.
Top Stories
