On Oct. 4, a Chinese trader noticed a sharp drop in the price of crypto tokens backed by Nike’s Air Jordan sneakers on a U.S.-based exchange after the general manager of the NBA’s Houston Rockets tweeted support for the protests in Hong Kong. The trader posted about the fall – which he told Reuters was more than 10% at the time – on Weibo, China’s equivalent of Twitter. “But it’s clear sneaker speculators were pulling money out of the market” after the Chinese government and netizens responded angrily to the comment by Houston Rockets general manager Daryl Morey, …read more
Source:: Yahoo Finance
