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Finance
Co-Founder Holds Keys to $200 Million in Project Crypto, Sparking Governance Debate
The NEO project's treasury, valued at hundreds of millions of dollars in crypto assets, has been controlled through personal wallets with no multisig protections and limited 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…
April 19, 2026, 11 a.m.
Finance
A Single Individual Controls $200 Million in Crypto for a Project, Prompting Calls for Change
The treasury of a major 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. Da estimat…
April 19, 2026, 11 a.m.
Finance
A Single Individual Controls $200 Million in Crypto for a Project, Sparking Governance Debate
The crypto project's treasury, valued at hundreds of millions of dollars, has been managed through personal wallets without multi-sig protection or formal oversight. According to co-founder Da Hongfei, the other co-founder, Erik Zhang, controls around 85% of the project's assets with a single signature. Da estimates the native tokens held by Zhang are worth between $200 million and $250 million. …
April 19, 2026, 11 a.m.
Finance
Co-Founder Holds $200 Million in Project Crypto, Sparking Governance Debate
The NEO project's treasury, valued at hundreds of millions of dollars, has been controlled through personal wallets with little oversight. Co-founder Da Hongfei 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 that includes redomiciling the Neo …
April 19, 2026, 11 a.m.
Finance
Co-founder Holds Keys to $200 Million in Crypto, Sparking Governance Debate
The NEO project's treasury has been managed in an unconventional manner, with hundreds of millions of dollars in crypto assets controlled through personal wallets and lacking multisig protections and formal oversight. According to co-founder Da Hongfei, Erik Zhang, the project's other co-founder and core protocol architect, has sole control over around 85% of the assets, valued between $200 milli…
April 19, 2026, 11 a.m.
Finance
A Single Individual Controls $200 Million in Crypto, Sparking Governance Debate
The treasury of a prominent 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, his fellow co-founder Erik Zhang has sole control over approximately 85% of the project's assets, valued between $200 milli…
April 19, 2026, 11 a.m.
Finance
Co-Founder Holds Keys to $200 Million in Crypto, Sparking Governance Debate
The NEO project's treasury, valued at hundreds of millions of dollars, has been controlled through personal wallets with no multi-sig protections, according to co-founder Da Hongfei. He claims that 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 has proposed a restructuring plan, which inclu…
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.
Finance
Crypto Project's $200 Million 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 and lacking 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 holds between $2…
April 19, 2026, 11 a.m.
Finance
A Co-Founder Controls $200 Million in Crypto for a Project, Sparking Governance Debate
The NEO project's treasury has been managed through a unique setup, with hundreds of millions of dollars in crypto assets controlled by personal wallets and lacking multi-signature protections or 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, valued between $200 million and $250 million,…
April 19, 2026, 11 a.m.