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Michael Jordan Finds an ‘HEIR’ as U.K. Watchdog Targets Crypto Ads: Crypto Minute

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In the latest episode of the Crypto Minute, Ross Mac, of Maconomics, dives into Michael Jordan’s step into the crypto space, Fed chair Jerome Powell and a U.K. watchdog’s targeting of some crypto ads.

Transcript:

We got the GOAT Michael Jordan having 1 last dance by getting heavier into the crypto space and Fed chairman Jerome Romie rome sounds like he just may be warming up to the idea of cryptocurrencies.

In yet another move into the crypto space, Michael Jordan and his son will be launching a fan engagement platform called HEIR, which will be built on Solana. The platform has already raised $10 million in seed funding...and will have an HEIR token and NFT assets among other offerings...everything M.J. touches seems to turn to gold so let's see how this goes...well except for the Hornets. 

Moving to our boy Jeromie Rome...the Fed chair said that he doesn't see cryptocurrencies as a "financial stability concern." But he does see them as speculative assets. However, he added that he believes that stablecoins can be useful...I wonder if he owns any.

The U.K.'s Advertising Standards Authority banned some crypto ads, claiming that the ads didn't highlight the risks of investing in crypto and took advantage of consumer inexperience. They took down a Papa John's bitcoin ad as well as eToro, Coinburp, and Coinbase Europe. Papa John's, specifically, had run a campaign promising a certain amount of bitcoin on the Luno platform when customers spent enough money on their pizzas...I guess you can't pay people to eat pizza.

 TheStreet's Crypto Minute is brought to you by Blockchain.com.

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