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A Single Individual Controls $200 Million in Crypto Assets, Sparking Governance Debate
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, Erik Zhang, the project's other co-founder and core protocol architect, holds around 85% of the assets with single-signature control, estimated…
April 19, 2026, 11 a.m.
Finance
Co-Founder Holds Keys to $200 Million in Crypto, Sparking Governance Debate
For years, the NEO treasury has been controlled through personal wallets with no multi-sig protections, a setup that would be unusual for most financial institutions. According to co-founder Da Hongfei, the person in control of hundreds of millions of dollars in crypto assets is Erik Zhang, the other co-founder and architect of NEO's core protocol. Da estimates that Zhang alone controls around 85…
April 19, 2026, 11 a.m.
Finance
Co-founder of a $200 Million Crypto Project Holds the Keys, Sparking Governance Debate
The management of a cryptocurrency project's treasury, worth hundreds of millions of dollars, has been controlled by a single individual, Erik Zhang, with no multisig protections in place. This unusual setup has been in place for years, with Zhang holding around 85% of the project's native tokens, currently valued between $200 million and $250 million. Da Hongfei, the project's other co-founder, …
April 19, 2026, 11 a.m.
Finance
A Single Individual Controls $200 Million in Crypto for a Project, Sparking Concerns Over Governance
For years, the treasury of NEO, a cryptocurrency 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. …
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 the NEO 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. Hongfei stated that a…
April 19, 2026, 11 a.m.
Finance
A Single Individual Controls $200 Million in Crypto Assets, Sparking Calls for Reform
The treasury of a prominent cryptocurrency project has been managed in an unconventional manner, with hundreds of millions of dollars in assets controlled by personal wallets lacking multisig protection and formal oversight. According to co-founder Da Hongfei, his fellow co-founder Erik Zhang holds around 85% of the project's assets, valued between $200 million and $250 million, with single signa…
April 19, 2026, 11 a.m.
Finance
A Single Individual Holds the Keys to $200 Million in Crypto, Sparking Governance Debate
NEO's treasury, valued at hundreds of millions of dollars in crypto assets, has been managed through personal wallets with no multi-signature protections and limited formal oversight. According to co-founder Da Hongfei, Erik Zhang, the other co-founder and architect of the core protocol, controls around 85% of the assets with a single signature. The native NEO and GAS tokens held by Zhang are est…
April 19, 2026, 11 a.m.
Finance
Co-Founder Holds $200 Million in Project Crypto, Sparking Governance Dispute
For years, the NEO 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 controlling around 85% of the funds is Erik Zhang, the project's other co-founder and core protocol architect. Da estimates that th…
April 19, 2026, 11 a.m.
Finance
Co-Founder Holds Keys to $200 Million in Project Crypto, Sparking Governance Debate
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 and lacking multisignature 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…
April 19, 2026, 11 a.m.
Finance
Crypto Project's $200 Million Held by One Person, Co-Founder Demands Change
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 formal oversight and multi-signature protections. 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 estimate…
April 19, 2026, 11 a.m.