Wang Xin, founder of Qvod and a well-known serial entrepreneur, announced that he has increased his holdings of FAIR³ tokens during a recent Binance China Community Q&A.

Although he did not disclose the specific amount of his investment, the market quickly reacted, driving the token price up by more than 30% in a short period of time. As of the last update, FAIR³ is trading at $0.01767. However, the token is not yet listed on centralized exchanges and could be high risk and could also be a fraudulent pump-dump scheme.

Wang has previously expressed his commitment to the Web3 ecosystem and expressed interest in projects that support the principles of technological justice. “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,” he said.

The entrepreneur’s involvement in Web3 comes after a turbulent past. Wang Xin was an early pioneer of China’s online video streaming industry, but became a controversial figure after he was sentenced to prison in 2016. Beijing’s Haidian District People’s Court sentenced Wang Xin to three and a half years in prison and fined him 1 million yuan (about $159 million at the time).

Two weeks ago, Wang took to social media to reiterate his support for FAIR³ and broader technological justice initiatives. In the post, he revealed that he had purchased 200 SOL worth of the altcoin, half of which was earmarked for a support fund dedicated to technological justice and artificial intelligence.

*This is not investment advice.