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Finance
A Single Individual Holds the Key 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-signature protections and minimal formal oversight. According to co-founder Da Hongfei, the individual in control of approximately 85% of the assets, worth between $200 million and $250 million, is Erik Zhang, the project's other co-founder and core pr…
April 19, 2026, 11 a.m.
Finance
A Single Individual Controls $200 Million in Crypto for a Project, Sparking Calls for Change
The treasury of NEO, a 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 around 85% of these assets, valued between $200 million and $250 million, is Erik Zhang, the proje…
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, has been controlled by a single individual, co-founder Erik Zhang, with no multi-sig protections or formal oversight. According to co-founder Da Hongfei, Zhang holds around 85% of the project's native tokens, worth between $200 million and $250 million, with single signature control. Da has proposed a restructuring plan, which…
April 19, 2026, 11 a.m.
Finance
Co-founder of $200 Million Crypto Project Calls for End to Single-Person Control
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 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 that inclu…
April 19, 2026, 11 a.m.
Finance
Co-Founder Holds Keys to $200 Million in Project's Crypto, Sparking Governance Debate
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 multisig 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 al…
April 19, 2026, 11 a.m.
Finance
Co-Founder Holds Keys to $200 Million in Project Crypto, Sparking Governance Debate
For years, the NEO treasury has been held in a single setup, with hundreds of millions of dollars in crypto assets controlled through personal wallets and no multi-sig protections. According to co-founder Da Hongfei, this person is Erik Zhang, who holds around 85% of the assets with single signature control. The native NEO and GAS tokens held by Zhang are currently worth between $200 million and …
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 little oversight. According to Da Hongfei, co-founder Erik Zhang holds around 85% of the assets, worth between $200 million and $250 million, with single-signature control. Hongfei has proposed a restructuring plan, which includes relocating the Neo Foundation …
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
NEO 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 controlled through personal wallets with no multi-sig protections and little formal oversight. 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 has proposed a r…
April 19, 2026, 11 a.m.
Finance
A Co-Founder Holds the Keys to $200 Million in Crypto, Sparking a Governance Debate
The NEO project's treasury, valued at hundreds of millions of dollars, has been managed through personal wallets with 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 single-signature authority. The native NEO and GAS tokens held by Zhang are estimated to be worth between $200 million and $250 …
April 19, 2026, 11 a.m.