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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 without multisig protection or formal oversight. According to co-founder Da Hongfei, the other co-founder, Erik Zhang, holds around 85% of the project's crypto assets, worth between $200 million and $250 million, with single signature control. Da has proposed a restructuring plan th…
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 minimal oversight, a situation that co-founder Da Hongfei believes must change. According to Hongfei, co-founder Erik Zhang holds around 85% of the project's crypto assets, valued at between $200 million and $250 million, with single-signature control. This arrangement has raised concerns, particularly given the pr…
April 19, 2026, 11 a.m.
Finance
Co-Founder Holds $200 Million in Project Crypto, Sparking Governance Dispute
For years, the NEO project's treasury was managed in an unconventional manner, 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 responsible for controlling around 85% of the project's assets with a single signature is Erik Zhang, the other co-founder a…
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 by personal wallets lacking multi-signature protections and formal oversight. 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 …
April 19, 2026, 11 a.m.
Finance
Co-founder Holds Keys to $200 Million in Crypto, Sparking Governance Debate
A long-standing issue with NEO's treasury has come to the forefront, as hundreds of millions of dollars in crypto assets are controlled by a single individual, Erik Zhang, without multisig protection or formal oversight. According to co-founder Da Hongfei, Zhang holds around 85% of the project's assets, valued between $200 million and $250 million, with single signature control. The native NEO an…
April 19, 2026, 11 a.m.
Finance
Co-Founder Holds Keys to $200 Million in Crypto Project Assets, Sparking Governance Debate
For several years, the NEO treasury operated under an unusual setup, with hundreds of millions of dollars in crypto assets controlled through personal wallets, lacking multi-sig protections and formal oversight. According to co-founder Da Hongfei, Erik Zhang, the other co-founder and core protocol architect, holds around 85% of the assets with single signature control, valued between $200 million…
April 19, 2026, 11 a.m.
Finance
A Single Individual Controls $200 Million in Crypto for a Project, Sparking Calls for Change
For several years, the treasury of NEO has been managed in an unconventional manner, with hundreds of millions of dollars in cryptocurrency 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 other co-founder and architect of NEO's core protocol. Da estimate…
April 19, 2026, 11 a.m.
Finance
Co-Founder Holds $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 multisig protection. According to co-founder Da Hongfei, his fellow co-founder Erik Zhang holds around 85% of the project's crypto assets, valued between $200 million and $250 million, with single signature control. Da …
April 19, 2026, 11 a.m.
Finance
A $200 Million Crypto Project Hangs in the Balance as Co-Founders Clash
For years, the NEO project's treasury was managed in an unconventional manner, with hundreds of millions of dollars in crypto assets controlled through personal wallets and lacking multisig protections or formal oversight. 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…
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 was managed through an unconventional setup, with hundreds of millions of dollars in crypto assets controlled by personal wallets and lacking multisig 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, worth between $200 million and $250 m…
April 19, 2026, 11 a.m.