China's Largest Cryptocurrency Thrives Despite Intense Crackdown
This article is for subscribers only.
A digital coin from China that takes its name from a character in The Matrix has become one of the world’s most valuable cryptocurrencies. And it’s done so by defying many of the principles that underpinned bitcoin’s meteoric rise.
NEO has surpassed $12 billion in market value, ranking 12th globally despite hailing from a country that’s banned digital coin issuances in one of the world’s harshest crackdowns on crypto-speculation. But founder Da Hongfei, 37, thinks Beijing is mostly done and he can focus on developing his underlying technology.