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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 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 treasury, worth between $200 million and $250 million, with single-signature control. Da has proposed a restructuring plan, which inc…
April 19, 2026, 11 a.m.
Finance
A Single Individual Holds the Keys to $200 Million in Crypto Assets, Sparking Calls for Governance Reform
For years, 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 multi-sig 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 estimates t…
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 in crypto assets, has been controlled by a single individual, co-founder Erik Zhang, with no multi-signature protections in place. According to Da Hongfei, the other co-founder, around 85% of the project's assets are controlled by Zhang alone, with an estimated value of between $200 million and $250 million. This has led to a d…
April 19, 2026, 11 a.m.
Finance
A Single Individual Controls $200 Million in Crypto for a Project, Sparking Governance Debate
For several years, the NEO project's treasury was managed in an unconventional manner, with hundreds of millions of dollars in cryptocurrency assets controlled through personal wallets lacking multi-signature protections and formal oversight. According to co-founder Da Hongfei, this responsibility falls on the shoulders of Erik Zhang, the project's other co-founder and core protocol architect. Da…
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 in crypto assets, has been controlled through personal wallets with no multi-sig protections and limited oversight. According to co-founder Da Hongfei, approximately 85% of the funds are controlled by Erik Zhang, the project's other co-founder, with a single signature. The native NEO and GAS tokens held by Zhang are currently w…
April 19, 2026, 11 a.m.
Finance
A Single Individual Controls $200 Million in Crypto for a Project, Sparking Calls for Change
For an extended period, the treasury of NEO was managed in an unconventional manner, with hundreds of millions of dollars in cryptocurrency controlled through personal wallets, lacking multi-signature security 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 stated in an…
April 19, 2026, 11 a.m.
Finance
Co-Founder Holds Keys to $200 Million in Project Crypto, Sparking Governance Dispute
The NEO project's treasury has been managed through an unconventional setup, with hundreds of millions of dollars in crypto assets controlled by personal wallets and lacking multisig protections. According to co-founder Da Hongfei, approximately 85% of the assets are controlled by Erik Zhang, the project's other co-founder, with single signature authority. The value of the native NEO and GAS toke…
April 19, 2026, 11 a.m.
Finance
Co-founder Holds Keys to $200 Million in Project Funds, Sparking Governance Debate
The NEO project's treasury, valued at hundreds of millions of dollars, has been controlled by a single individual, co-founder Erik Zhang, without multisig protection or formal oversight. According to Da Hongfei, the other co-founder, Zhang holds around 85% of the project's tokens, 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
A Single Individual Controls $200 Million in Crypto for a Project, Sparking Calls for Change
For years, the crypto assets of NEO's treasury were managed through an unconventional setup, with hundreds of millions of dollars in crypto controlled by personal wallets and lacking multisig protection or formal oversight. According to co-founder Da Hongfei, this control lies with Erik Zhang, the project's other co-founder and core protocol architect. Da stated in an interview, "Around 85% is co…
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 by a single individual, co-founder Erik Zhang, with no multi-sig protection and limited oversight. According to co-founder Da Hongfei, Zhang holds around 85% of the project's assets, including native NEO and GAS tokens, worth between $200 million and $250 million. Da has proposed a restructuring plan, which…
April 19, 2026, 11 a.m.