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Finance
Co-founder Holds Keys to $200 Million in Crypto, Sparking Governance Debate
The custody of NEO's substantial treasury, valued at hundreds of millions of dollars in cryptocurrency, has been a point of contention due to its unconventional setup. According to Da Hongfei, co-founder of NEO, Erik Zhang, the other co-founder and architect of the protocol, controls approximately 85% of the funds with a single signature, lacking multisig protections and formal oversight. The ass…
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 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 Single Individual Controls $200 Million in Crypto, Sparking Calls for Change
For a long time, the treasury of NEO has been managed through an unusual setup, with hundreds of millions of dollars in crypto assets controlled by personal wallets, lacking multisig protections and formal oversight. According to co-founder Da Hongfei, this person is Erik Zhang, the other co-founder and architect of the core protocol. Da stated that around 85% of the assets are controlled by Zhan…
April 19, 2026, 11 a.m.
Finance
A Single Individual Holds the Keys to $200 Million in Crypto Assets, Sparking a Governance Dispute
The treasury of a prominent cryptocurrency project has been managed in an unconventional manner, with hundreds of millions of dollars in assets controlled through personal wallets and lacking multi-signature protections. According to co-founder Da Hongfei, his fellow co-founder Erik Zhang holds around 85% of the project's assets, valued at between $200 million and $250 million, with single-signat…
April 19, 2026, 11 a.m.
Finance
A Single Individual Controls $200 Million in Crypto for a Project, Sparking Calls for Change
The management of NEO's treasury has been unconventional, with hundreds of millions of dollars in crypto assets controlled through personal wallets, lacking multi-signature protections and formal oversight. According to co-founder Da Hongfei, the individual in control of around 85% of these assets is Erik Zhang, the other co-founder and architect of NEO's core protocol. Da estimated that the nati…
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
Co-Founder Holds Keys to $200 Million in Crypto, Sparking Governance Dispute
For years, the NEO project's treasury was controlled through personal wallets with no multisig protections, a setup that would be unusual for most financial institutions. According to co-founder Da Hongfei, 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 estimated that the native NEO and GAS…
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 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.