As a China-based project, NEO fell nearly 40% over the day's trading due the country's regulators to ban initial coin offerings (ICOs).
However, now the NEO cryptocurrency price is showing signs of renewed life. Thus, it surged after Dutch financial news outlet Het Financieele Dagblad (fd.nl) published an interview with NEO founder Da Hongfei.
In the interview, the man makes several significant statements about China’s crackdown on cryptocurrency, as detailed by cryptocoinsnews.com. Da Hongfei reveals that "Chinese regulators consulted with him for information and suggestions prior to announcing the official ban on initial coin offerings (ICOs) and subsequently issuing verbal shutdown orders to cryptocurrency exchanges". On top of that, the man speculates that a future collaboration between NEO and the Chinese government is a possibility.
I do not expect the government to call me in the short term and say, ‘Let’s use Neo as the blockchain technology infrastructure in China.’ But in the medium term? Why not? I think it’s possible.
After the statement, the NEO price began to soar.
NEO charts on coinmarketcap.com
As shown, within the past 24 hours, NEO has climbed by more than 30% and at the time of writing is trading at $26.29.