In a recent Binance China Community Q&A, Wang Xin, the founder of Qvod and a well-known serial entrepreneur, announced that he has increased his holdings of FAIR³ tokens. Although Wang did not disclose the specifics of his investment, the market responded swiftly, with the token’s value soaring by over 30% in a brief period. As of the last update, FAIR³ is priced at $0.01767. It is notable, however, that the token is not currently listed on centralized exchanges, indicating a higher risk and potential for fraudulent pump-dump schemes.
Wang has previously voiced his commitment to the Web3 ecosystem and shown interest in projects that adhere to the principles of technological justice. He stated, “I have always joined Web3 with a learning attitude, so I support the FAIR³ token, which is dedicated to technical justice. As mentioned in the previous AMA, although I will not be personally issuing coins, I will remain committed to technical justice and contribute as much as I can.”
Wang’s involvement in Web3 follows a turbulent past. As an early pioneer of China’s online video streaming industry, he became a controversial figure when he was sentenced to prison in 2016. The Haidian District People’s Court in Beijing sentenced Wang Xin to three and a half years in prison and imposed a fine of 1 million yuan (equivalent to about $159 million at that time).
Two weeks ago, Wang used social media as a platform to reinforce his support for FAIR³ and broader technological justice initiatives. In his post, he revealed that he had bought 200 SOL worth of the altcoin, with half of it designated for a support fund devoted to technological justice and artificial intelligence.
While Wang’s investment in FAIR³ tokens has given the token some credibility, potential investors should approach with caution. The absence of the token from centralized exchanges should not be overlooked. Moreover, Wang’s past legal troubles may cast a shadow over his current endeavors. As with any investment, it is crucial to conduct thorough research and consider the risks before parting with your hard-earned cash.
Please note that this article does not constitute investment advice. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
In summary, Wang Xin’s recent announcement regarding his acquisition of additional FAIR³ tokens has had a significant impact on the token’s market value. Despite his previous legal woes, he remains committed to supporting technological justice projects and the Web3 ecosystem. However, potential investors should exercise caution and conduct due diligence before investing in tokens not listed on centralized exchanges.
