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Finance
A Single Individual Holds the Keys to $200 Million in Crypto Assets, Sparking Debate Over Project Governance
For years, the treasury of a prominent cryptocurrency project has been managed through an unconventional setup, with hundreds of millions of dollars in crypto assets controlled by personal wallets and lacking multisignature protections or formal oversight. According to co-founder Da Hongfei, his fellow co-founder Erik Zhang holds around 85% of the project's assets, currently valued at between $20…
April 19, 2026, 11 a.m.
Finance
A $200 Million Crypto Project's Fate Hangs in the Balance as Co-Founders Clash
The cryptocurrency project NEO has been operating with an unconventional setup, where hundreds of millions of dollars in crypto assets have been controlled through personal wallets with no multisig protections and minimal 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 the architect of its core proto…
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 has been 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 …
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 notable cryptocurrency project 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, the individual in control of these assets is Erik Zhang, the project's other co-founder and core protocol architect. Da e…
April 19, 2026, 11 a.m.
Finance
Co-Founder Holds $200 Million in Project Crypto, Sparking Calls for Governance Reform
The NEO project's treasury, worth hundreds of millions of dollars, has been managed through personal wallets with little oversight, sparking concerns about the lack of formal governance. According to co-founder Da Hongfei, approximately 85% of the treasury is controlled by Erik Zhang, the project's other co-founder, with single-signature authority. This has raised concerns about the concentration…
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 multi-signature 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 estimate…
April 19, 2026, 11 a.m.
Finance
A Single Individual Controls $200 Million in Crypto for a Project, Sparking Calls for Change
For a long time, the treasury of NEO was managed in an unconventional manner, with hundreds of millions of dollars in crypto assets being controlled through personal wallets without multisignature protections or formal oversight. According to co-founder Da Hongfei, the individual in control of these assets is Erik Zhang, the other co-founder of NEO and the architect of its core protocol. Da state…
April 19, 2026, 11 a.m.
Finance
Co-founder Holds Keys to $200 Million in Project Crypto, Sparking Governance Debate
The cryptocurrency project NEO has been operating with an unconventional setup, where hundreds of millions of dollars in crypto assets have 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 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 Assets, Sparking Calls for Governance Reform
The treasury of a prominent cryptocurrency project has been managed in an unconventional manner, with hundreds of millions of dollars in digital assets controlled by a single individual through personal wallets, lacking multi-signature protections and formal oversight. According to co-founder Da Hongfei, this individual is Erik Zhang, the project's other co-founder and core protocol architect. Da…
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, Erik Zhang, with no multi-sig protections in place. 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 includes redomiciling…
April 19, 2026, 11 a.m.