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Finance
Co-Founder Holds Keys to $200 Million in Crypto, Sparking Governance Dispute
For years, the NEO project's treasury was controlled through personal wallets with no multisig protections, a setup that would be unusual for most financial institutions. According to co-founder Da Hongfei, Erik Zhang, the project's other co-founder, holds around 85% of the assets, worth between $200 million and $250 million, with single signature control. Da estimated that the native NEO and GAS…
April 19, 2026, 11 a.m.
Finance
$200 Million in Crypto Assets Held by One Person Sparks Governance Debate
The NEO project's treasury, valued at hundreds of millions of dollars, has been managed through personal wallets with little oversight, sparking a heated debate over governance. Co-founder Da Hongfei claims that Erik Zhang, the project's other co-founder, controls around 85% of the assets, worth between $200 million and $250 million, with a single signature. Da has proposed a restructuring plan, …
April 19, 2026, 11 a.m.
Finance
Co-founder Holds Keys to $200 Million in Crypto, Sparking Governance Dispute
The control of hundreds of millions of dollars in crypto assets has been a point of contention for the NEO project, with co-founder Erik Zhang holding significant sway over the treasury. According to Da Hongfei, the other co-founder, Zhang has single-handed control over around 85% of the project's assets, valued at between $200 million and $250 million. Da has proposed a restructuring plan, which…
April 19, 2026, 11 a.m.
Finance
A Single Individual Controls $200 Million in Crypto for a Project, Sparking Calls for Change
The treasury of NEO, a cryptocurrency project, has been managed in an unconventional manner, with hundreds of millions of dollars in crypto assets controlled through personal wallets without multi-signature protections or formal oversight. According to co-founder Da Hongfei, the individual in control of these assets is Erik Zhang, the project's other co-founder and core protocol architect. Da est…
April 19, 2026, 11 a.m.
Finance
Co-Founder Holds Keys to $200 Million in Crypto, Sparking Governance Debate
The control of hundreds of millions of dollars in cryptocurrency has been a point of contention for the NEO project, with its co-founder Da Hongfei stating that the current setup is unusual and lacks proper oversight. According to Da, his fellow co-founder Erik Zhang has sole control over approximately 85% of the project's crypto assets, including NEO and GAS tokens, which are currently valued be…
April 19, 2026, 11 a.m.
Finance
A Co-Founder Holds the Keys to $200 Million in Crypto, Sparking a Governance Crisis
The NEO project's treasury, valued at hundreds of millions of dollars, has been controlled through personal wallets with no multi-signature protections or formal oversight. According to co-founder Da Hongfei, Erik Zhang, the project's other co-founder, holds around 85% of the treasury, worth between $200 million and $250 million, with single-signature control. Da has proposed a restructuring plan…
April 19, 2026, 11 a.m.
Finance
Co-Founder Holds Keys to $200 Million in Project Funds, Sparking Governance Dispute
The NEO project's treasury has been managed in an unconventional manner, with hundreds of millions of dollars in crypto assets controlled by personal wallets lacking multi-signature protections and formal oversight. According to co-founder Da Hongfei, the individual in control of these assets is Erik Zhang, the project's other co-founder and architect of its core protocol. Da estimates that Zhang…
April 19, 2026, 11 a.m.
Finance
A Single Individual Controls $200 Million in Crypto, Sparking Calls for Change
For a long time, the treasury of NEO has been managed through an unusual setup, with hundreds of millions of dollars in crypto assets controlled by personal wallets, lacking multisig protections and formal oversight. According to co-founder Da Hongfei, this person is Erik Zhang, the other co-founder and architect of the core protocol. Da stated that around 85% of the assets are controlled by Zhan…
April 19, 2026, 11 a.m.
Finance
Co-Founder Holds Keys to $200 Million in Crypto, Sparking Governance Dispute
The NEO project's treasury, valued at hundreds of millions of dollars, has been controlled through personal wallets with no multi-signature protections, according to co-founder Da Hongfei. He claims that Erik Zhang, the project's other co-founder, holds around 85% of the treasury, worth between $200 million and $250 million, with single-signature control. Da has proposed a restructuring plan, whi…
April 19, 2026, 11 a.m.
Finance
Co-Founder Holds Key to $200 Million in Crypto Project, Sparking Governance Dispute
For years, the crypto project's treasury was managed through an unconventional setup, with hundreds of millions of dollars in assets controlled by personal wallets and lacking multisig protections and formal oversight. According to co-founder Da Hongfei, the person in control of these assets is Erik Zhang, the project's other co-founder and core protocol architect. Da estimates that Zhang holds a…
April 19, 2026, 11 a.m.