BITCOINOX

The Falling of Nike`s Token and NBA vs China Conflict

NBA China

To begin with, sometimes political and important conflicts start from details. As a result, a small point triggers a wave of negativity and argues. For example, the same situation with NBA-China scandal.

What happened with NBA and China?

It began 2 weeks ago. According Reuters, an anonymous trader Weibo wrote that a drop in the price of crypto tokens was speculation and money laundering. Also, he believes that tokens are supported by Nike’s Air Jordan sneakers on a United States exchange, so a 10% decline is obvious. He also turned everything in the direction of Houston Rockets general manager Daryl Morey’s tweet which declared solidarity with anti-government actions and protests in Hong Kong.

Then the tweet was deleted but the sediment remained with everyone. After this incident, the price of Air Jordan 1 Retro High Satin Black Toe sneakers, iconic sneakers by NBA stars, fell by 34%. George Gao, an influential and very well-known shoe manufacturer, called the conflict and the allegations wrong and unprecedented. Probably his 38,000 YouTube subscribers will listen to him. Moreover, it is clear that protesters in Hong Kong support Daryl Morey and gather in his support. But there is a difficult opinion. “Political factors do affect my choice,” for instance, announced Chen Luwei, a Chinese sneaker fan studying in Australia.

Above all, a Hong Kong-based democratic protest movement allegedly spurred a wider spread of cryptocurrencies such as Bitcoins, with some retailers in the city starting to offer support for crypto payments.

Hong Kong’s Bitcoin trading volumes rose in June amid riots. At the time of publication, the press is trading at a premium of about one hundred dollars on the LocalBitcoins peer-to-peer exchange.

Unfortunately, it`s not the only one case. Here you can read more about crypto offers and situations in the hard and difficult political moments.

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