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Finance
A Single Individual Controls $200 Million in Crypto for a Project, Sparking Calls for Change
For years, the treasury of NEO, a cryptocurrency project, 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 core protocol architect.…
April 19, 2026, 11 a.m.
Finance
A $200 Million Crypto Project's Fate Hangs in the Balance as Co-Founders Clash
For years, 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 multisig protection and formal oversight. According to co-founder Da Hongfei, approximately 85% of the project's assets are controlled by Erik Zhang, the other co-founder, with a single signature. The native NEO and GAS to…
April 19, 2026, 11 a.m.
Finance
Co-Founder Holds Keys to $200 Million in Crypto, Sparking Governance Debate
For years, NEO's treasury was managed through an unconventional 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, Erik Zhang, the other co-founder and architect of NEO's core protocol, has sole control over approximately 85% of the assets, worth between $200 million an…
April 19, 2026, 11 a.m.
Finance
A Single Individual Controls $200 Million in Crypto for a Project, Sparking Calls for Governance Reform
The treasury of the NEO project 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, Erik Zhang, the project's other co-founder and core protocol architect, holds around 85% of the assets, worth between $200 million and $250 mi…
April 19, 2026, 11 a.m.
Finance
Co-Founder Holds Keys to $200 Million in Crypto, Sparking Governance Debate
The treasury of the NEO project has been managed in an unconventional manner, with hundreds of millions of dollars in crypto assets controlled through personal wallets, lacking multisig protections and formal oversight. According to co-founder Da Hongfei, Erik Zhang, the project's other co-founder, has sole control over approximately 85% of the assets, valued between $200 million and $250 million…
April 19, 2026, 11 a.m.
Finance
Co-Founder Holds Keys to $200 Million in Crypto, Sparking Governance Debate
The NEO treasury, valued at hundreds of millions of dollars, has been managed through personal wallets with little oversight, sparking concerns over governance and control. Co-founder Da Hongfei estimates that approximately 85% of the treasury is controlled by Erik Zhang, the other co-founder, with a single signature, and no multi-sig protections. The native NEO and GAS tokens held by Zhang are c…
April 19, 2026, 11 a.m.
Finance
Crypto Project's $200 Million Fate Hangs in the Balance as Co-Founders Clash
For years, the NEO project's treasury was managed through a unique setup, with hundreds of millions of dollars in crypto assets controlled by personal wallets and lacking multisig protection or formal oversight. According to co-founder Da Hongfei, the individual controlling around 85% of the project's assets is Erik Zhang, the other co-founder and architect of the core protocol. Da estimated that…
April 19, 2026, 11 a.m.
Finance
Co-Founder Holds Keys to $200 Million in Crypto, Sparking Governance Dispute
For years, the NEO project's treasury was managed through an unconventional setup, with hundreds of millions of dollars in crypto assets controlled by personal wallets, lacking multi-sig protection and formal oversight. According to co-founder Da Hongfei, the individual in control of these assets is Erik Zhang, the other co-founder and architect of NEO's core protocol. Da estimates that Zhang alo…
April 19, 2026, 11 a.m.
Finance
A Crypto Project's $200 Million hangs in the Balance as Co-Founders Clash
For years, the crypto project's treasury was managed in an unconventional manner, with hundreds of millions of dollars in digital assets controlled by personal wallets, lacking multi-signature safeguards and formal oversight. According to co-founder Da Hongfei, his fellow co-founder Erik Zhang holds the keys to around 85% of the project's assets, valued between $200 million and $250 million, with…
April 19, 2026, 11 a.m.
Finance
Co-Founder Holds Keys to $200 Million in Crypto Project, Sparking Governance Dispute
The NEO project's treasury, valued at hundreds of millions of dollars in crypto assets, has been managed through personal wallets without multisig protection or formal oversight. According to co-founder Da Hongfei, Erik Zhang, the project's other co-founder, controls around 85% of the assets with a single signature, estimated to be worth between $200 million and $250 million. Da has proposed a re…
April 19, 2026, 11 a.m.