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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
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
A $200 Million Crypto Conundrum: Co-Founder's Grip on Project's Assets Sparks Debate
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 holds aroun…
April 19, 2026, 11 a.m.
Finance
Co-founder Holds $200 Million in Project Crypto, 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 protections or formal oversight. According to co-founder Da Hongfei, the majority of these assets, approximately $200-250 million, are controlled by Erik Zhang, the project's other co-founder. Da has proposed a restructuring plan, which includes reloca…
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
A $200 Million Crypto Project's Fate Hangs in the Balance as Co-Founders Clash
For years, the NEO treasury has been held in a unique setup, 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, 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 controls ar…
April 19, 2026, 11 a.m.
Finance
A Single Individual Controls $200 Million in Crypto for a Project, Prompting Calls for Change
For a long time, the treasury of NEO 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 individual is Erik Zhang, the other co-founder and architect of NEO's core protocol. Da stated, 'Around 85% is controlled b…
April 19, 2026, 11 a.m.
Finance
A Crypto Project's $200 Million Conundrum: One Person Holds the Keys
The treasury of a prominent crypto project, NEO, has been managed in an unconventional manner, with hundreds of millions of dollars in crypto assets controlled by personal wallets and lacking multisignature protections. According to co-founder Da Hongfei, the individual responsible for this setup is Erik Zhang, the project's other co-founder and core protocol architect. Da estimates that Zhang al…
April 19, 2026, 11 a.m.
Finance
Co-founder's Control Over $200 Million in Crypto Assets Sparks Dispute
The NEO project's treasury, valued at hundreds of millions of dollars, has been managed through personal wallets without multi-signature protections or formal oversight. According to Da Hongfei, co-founder Erik Zhang controls around 85% of the assets with a single signature. The native NEO and GAS tokens held by Zhang are estimated to be worth between $200 million and $250 million. Da has propose…
April 19, 2026, 11 a.m.
Finance
A Single Individual Controls $200 Million in Project Crypto, Sparking Calls for Reform
For years, the project's treasury was 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 that Zhang…
April 19, 2026, 11 a.m.