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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
Co-Founder Holds Keys to $200 Million in Crypto, Sparking Governance Debate
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 and lacking multisig protections. According to co-founder Da Hongfei, Erik Zhang, the project's other co-founder, holds around 85% of the treasury, valued at between $200 million and $250 million, with single-signature control…
April 19, 2026, 11 a.m.
Finance
A Single Individual Controls $200 Million in Crypto for a Project, Sparking Calls for Change
The cryptocurrency project NEO has been managed with an unconventional setup, where hundreds of millions of dollars in crypto assets have been controlled through personal wallets without multi-signature protections or formal oversight. According to co-founder Da Hongfei, the individual controlling these assets is Erik Zhang, the project's other co-founder and core protocol architect. Da estimates…
April 19, 2026, 11 a.m.
Finance
Co-founder of $200 Million Crypto Project Holds Sole Control, Sparking Governance Dispute
The NEO project's treasury, worth hundreds of millions of dollars in crypto assets, has been controlled through personal wallets with no multi-sig protections, according to co-founder Da Hongfei. This unusual setup has been in place for years, with Da's fellow co-founder, Erik Zhang, holding around 85% of the assets, including NEO and GAS tokens, with single signature control. The value of these …
April 19, 2026, 11 a.m.
Finance
Co-Founder Holds Keys to $200 Million in Project 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 multisig protections and limited formal oversight. According to co-founder Da Hongfei, 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…
April 19, 2026, 11 a.m.
Finance
Co-Founder Holds Keys to $200 Million in Project Crypto, Sparking Governance Debate
The NEO project's treasury, valued at hundreds of millions of dollars in crypto assets, has been managed through personal wallets with no multisig protection, according to co-founder Da Hongfei. He claims that Erik Zhang, the project's other co-founder, controls around 85% of the funds with a single signature. The native NEO and GAS tokens held by Zhang are currently worth between $200 million an…
April 19, 2026, 11 a.m.
Finance
Crypto Project's $200 Million Hangs in the Balance as Co-Founders Clash
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 native tokens, worth between $200 million and $250 million, with single-signature control. Da has proposed a restructuring plan, whic…
April 19, 2026, 11 a.m.
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 Co-Founder Controls $200 Million in Crypto for a Project, Sparking Governance Debate
The NEO project's treasury has been managed through a unique 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 project's other co-founder and core protocol architect, holds around 85% of the assets, valued between $200 million and $250 million,…
April 19, 2026, 11 a.m.
Finance
A Single Individual Controls $200 Million in Crypto Assets, Sparking Debate Over Project Governance
For years, the financial management of a prominent cryptocurrency project has been unusually informal, with hundreds of millions of dollars in digital assets controlled through personal wallets and lacking robust oversight. According to co-founder Da Hongfei, his fellow co-founder Erik Zhang holds the keys to approximately 85% of the project's assets, valued between $200 million and $250 million,…
April 19, 2026, 11 a.m.