Technical foul: Chinese traders in online sneaker market punish NBA after HK controversy

  • 📰 manilabulletin
  • ⏱ Reading Time:
  • 34 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 17%
  • Publisher: 51%

Australia News News

Australia Australia Latest News,Australia Australia Headlines

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 US-based exchange after the general manager of the NBA’s Houston Rockets tweeted support for the protests in Hong Kong.

A pair of Nike’s Air Force sneakers with a NBA logo is seen display at a Nike store in Beijing, China October 10, 2019.

“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, he said.Chinese state media started to attack him, the Houston Rockets and the National Basketball Association , accusing them of endorsing violence and peddling a “secessionist pipe dream.”

It is also possible on 55.com to trade tokens backed by other designer merchandise such as hoodies by Supreme, a US clothing brand under the Carlyle Group. Last week, Houston Rockets sneakers and other merchandise were pulled from several Nike stores in major Chinese cities.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 25. in AU
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Go on, tease each other.. stir up a war..

China is such a huge market that even the NBA can’t go up against. Business over principle.

Australia Australia Latest News, Australia Australia Headlines