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NBA-China Scandal Crashes Nike Sneaker-Backed Crypto Token Price

Published 10/16/2019, 05:37 AM
Updated 10/16/2019, 05:41 AM
NBA-China Scandal Crashes Nike Sneaker-Backed Crypto Token Price

A now-viral post by a Chinese cryptocurrency trader has highlighted the stark drop in the price of American sneaker-backed tokens in the wake of the fallout between the NBA and China.

As Reuters reports on Oct. 16, the anonymous trader’s Weibo post from earlier this month had shone a spotlight on an apparent 10% crash in the price of crypto tokens backed by Nike’s Air Jordan sneakers on a United States-based exchange.

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