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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
Co-Founder Holds Keys to $200 Million in Project's Crypto, Sparking Governance Debate
For years, the NEO project's treasury was controlled through personal wallets with no multi-sig protections, a setup that would be unusual for most financial institutions. According to co-founder Da Hongfei, the person in control of these assets is Erik Zhang, the other co-founder and architect of the project's core protocol. Da estimates that Zhang holds around 85% of the project's assets, worth…
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
Co-Founder Holds Keys to $200 Million in Crypto, Sparking Governance Debate
The cryptocurrency project NEO has been operating with an unconventional financial setup, where hundreds of millions of dollars in crypto assets have been controlled by personal wallets with no multisig protections and little formal oversight. According to co-founder Da Hongfei, the person controlling around 85% of the funds is Erik Zhang, the other co-founder and architect of NEO's core protocol…
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 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
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
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.
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
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 managed through personal wallets with no multisig protection, according to co-founder Da Hongfei. He claims that Erik Zhang, the project's other co-founder, controls around 85% of the funds with a single signature. The native NEO and GAS tokens held by Zhang are currently worth between $200 million an…
April 19, 2026, 11 a.m.