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Finance
A Single Individual Holds the Keys to $200 Million in Crypto, Sparking a Governance Dispute
For years, the NEO project's treasury was managed through a unique 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 other co-founder and architect of the core protocol. Da stated that "around 85% is c…
April 19, 2026, 11 a.m.
Finance
A Single Individual Controls $200 Million in Crypto Assets, Sparking Governance Debate
The financial setup of a prominent cryptocurrency project has been called into question, as hundreds of millions of dollars in crypto assets are controlled by a single individual through personal wallets, lacking multisig 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 estimates tha…
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 without multisig 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. Da estimates that Zhang hold…
April 19, 2026, 11 a.m.
Finance
Co-Founder Holds Keys to $200 Million in Crypto, Sparking Governance Debate
For years, the NEO treasury was managed through a unique setup, with hundreds of millions of dollars in crypto assets controlled by personal wallets and lacking formal oversight. According to co-founder Da Hongfei, Erik Zhang, the other co-founder and architect of NEO's core protocol, holds around 85% of the treasury, worth between $200 million and $250 million, with single-signature control. Da …
April 19, 2026, 11 a.m.
Finance
Co-Founder Holds Keys to $200 Million in Crypto, Sparking Governance Dispute
The cryptocurrency project NEO has been embroiled in a dispute between its co-founders, Da Hongfei and Erik Zhang, over the control of hundreds of millions of dollars in crypto assets. According to Da, Zhang has sole control over around 85% of the project's treasury, which is currently valued at between $200 million and $250 million. This unusual setup has raised concerns, as the funds are held i…
April 19, 2026, 11 a.m.
Finance
Crypto Project's $200 Million Hangs in the Balance as Co-Founders Clash
For years, the NEO project's treasury was controlled through personal wallets with minimal oversight, a situation that co-founder Da Hongfei claims must change. According to Da, his fellow 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 that would introduce multi…
April 19, 2026, 11 a.m.
Finance
A Single Individual Holds the Reins to $200 Million in Crypto Assets, Sparking Calls for Governance Reform
The NEO project's treasury, valued at hundreds of millions of dollars, has been managed through personal wallets with limited oversight and no multi-signature protections. According to co-founder Da Hongfei, approximately 85% of the assets are controlled by Erik Zhang, the project's other co-founder, with a single signature. The native NEO and GAS tokens held by Zhang are estimated to be worth be…
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, NEO's treasury was 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, this individual is Erik Zhang, the project's other co-founder and core protocol architect. Da stated in an interview, 'Around 85% is cont…
April 19, 2026, 11 a.m.
Finance
Co-Founder Holds Keys to $200 Million in 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 and lacking multisig protections or formal oversight. According to co-founder Da Hongfei, this responsibility fell on the shoulders of Erik Zhang, the other co-founder and architect of NEO's core protocol. Da estimated that Zhang alone contr…
April 19, 2026, 11 a.m.
Finance
A $200 Million Crypto Project's Fate Hangs in the Balance as Co-Founders Clash
For years, the NEO treasury has been managed through a non-traditional 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, his fellow co-founder Erik Zhang has sole control over around 85% of the project's assets, valued between $200 million and $250 million, wi…
April 19, 2026, 11 a.m.