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Finance
A Single Individual Controls $200 Million in Crypto for a Project, Prompting Calls for Change
The unusual setup of a project's treasury, where hundreds of millions of dollars in crypto assets are controlled by personal wallets with no multi-signature protections and little formal oversight, has been a point of contention for years. According to co-founder Da Hongfei, his fellow co-founder Erik Zhang is the individual who holds around 85% of the project's assets, worth between $200 million…
April 19, 2026, 11 a.m.
Finance
A Single Individual Controls $200 Million in Crypto for a Project, Sparking Debate Over Governance
The treasury of 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 estimates…
April 19, 2026, 11 a.m.
Finance
A Single Individual Controls $200 Million in Crypto for a Project, Sparking Governance Debate
For years, the NEO project's treasury, valued at hundreds of millions of dollars in cryptocurrency, has been managed through an unconventional setup: personal wallets with no multi-signature protections and minimal formal oversight. According to co-founder Da Hongfei, the individual in control of this vast sum is Erik Zhang, the project's other co-founder and the architect of its core protocol. D…
April 19, 2026, 11 a.m.
Finance
One Individual Controls $200 Million in Project Crypto, Sparking Calls for Governance Reform
For years, 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, 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 estimates t…
April 19, 2026, 11 a.m.
Finance
A Single Individual Holds the Keys to $200 Million in Crypto Assets, Sparking a Governance Dispute
For years, the project's treasury has been controlled through personal wallets with no multi-signature protections and limited oversight, with hundreds of millions of dollars in crypto assets at stake. 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, with single…
April 19, 2026, 11 a.m.
Finance
A Single Individual Controls $200 Million in Crypto Assets, Sparking Governance Debate
For an extended period, the treasury of NEO has been managed through an unconventional setup, with hundreds of millions of dollars in cryptocurrency assets controlled by personal wallets, lacking multi-signature protections and formal oversight. According to co-founder Da Hongfei, the individual responsible for this arrangement is Erik Zhang, the other co-founder and architect of the core protoco…
April 19, 2026, 11 a.m.
Finance
A Co-Founder Holds the Keys to $200 Million in Crypto, Sparking a Governance Dispute
For years, the NEO treasury was managed through an unusual 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 other co-founder and architect of NEO's core protocol, holds around 85% of the project's assets, valued between $200 million and $250 m…
April 19, 2026, 11 a.m.
Finance
A Co-Founder Holds the Keys to $200 Million in Crypto, Sparking a Governance Dispute
For years, the NEO treasury has been held in an unconventional setup, 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, 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 alone contr…
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 multisig protections, according to co-founder Da Hongfei. He claims that Erik Zhang, the 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 includes estab…
April 19, 2026, 11 a.m.
Finance
Co-Founder's Control of $200 Million in Crypto Assets Sparks Governance Debate
The NEO project's treasury, valued at hundreds of millions of dollars, has been managed through personal wallets without multi-sig protections or formal oversight. According to co-founder Da Hongfei, approximately 85% of the treasury is controlled by Erik Zhang, the project's other co-founder, with a single signature. The native NEO and GAS tokens held by Zhang are estimated to be worth between $…
April 19, 2026, 11 a.m.