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Finance
Co-Founder Holds $200 Million in Project Crypto, Sparking Governance Dispute
The NEO project's treasury, valued at hundreds of millions of dollars, has been managed through personal wallets without multisig protections or formal oversight. According to Da Hongfei, co-founder Erik Zhang controls around 85% of the assets, including native NEO and GAS tokens worth between $200 million and $250 million, with single signature authority. Da has proposed a restructuring plan, wh…
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 NEO, a cryptocurrency project, has been managed in an unconventional manner, with hundreds of millions of dollars in crypto assets controlled by 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. Da estimates that…
April 19, 2026, 11 a.m.
Finance
One Person Controls $200 Million in Crypto for a Project, Sparking Governance Debate
The NEO project's treasury, valued at hundreds of millions of dollars in crypto assets, has been controlled by a single individual, Erik Zhang, without multi-signature protections or formal oversight. According to co-founder Da Hongfei, Zhang holds around 85% of the project's assets, worth between $200 million and $250 million, with single signature control. Da has proposed a restructuring plan t…
April 19, 2026, 11 a.m.
Finance
A Single Individual Controls $200 Million in Crypto for a Project, Sparking Calls for Change
For years, NEO'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, this control rests with Erik Zhang, the project's other co-founder and core protocol architect. Da estimates that Zhang alone controls around 85…
April 19, 2026, 11 a.m.
Finance
Co-Founder Holds Keys to $200 Million in Crypto, Sparking Governance Debate
The cryptocurrency project NEO has been operating with an unusual financial setup, where hundreds of millions of dollars in crypto assets are controlled by personal wallets with no multi-sig protections and limited 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…
April 19, 2026, 11 a.m.
Finance
A Single Individual Holds the Keys to $200 Million in Crypto, Sparking Calls for Governance Reform
For years, 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 little formal oversight. According to co-founder Da Hongfei, this control rests with Erik Zhang, the project's other co-founder and core protocol architect. Da estimates that Zhang holds between $200 million and $250 milli…
April 19, 2026, 11 a.m.
Finance
Control of $200 Million in Crypto Hangs in the Balance as Co-Founders Clash
For years, the NEO treasury has been held in an unconventional setup, 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 controlling around 85% of the assets, worth between $200 million and $250 million, is Erik Zhang, the other co-founder and architect …
April 19, 2026, 11 a.m.
Finance
A $200 Million Crypto Project Hangs in the Balance as Co-Founders Clash Over Control
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 multisig protection and little formal oversight. According to co-founder Da Hongfei, Zhang holds around 85% of the project's assets, worth between $200 million and $250 million, with a single signature. Da has proposed a restructuring plan, which includ…
April 19, 2026, 11 a.m.
Finance
A Single Individual Controls $200 Million in Crypto for a Project, Sparking Calls for Change
The NEO project's treasury, valued at hundreds of millions of dollars in crypto assets, has been managed through personal wallets without multi-signature protections or formal oversight for years. According to co-founder Da Hongfei, the individual controlling around 85% of the project's assets with a single signature is Erik Zhang, the other co-founder and architect of its core protocol. The nati…
April 19, 2026, 11 a.m.
Finance
NEO Co-Founder Holds Keys to $200 Million in Crypto, Sparking Governance Debate
For years, the NEO project's treasury was controlled by a single individual, with hundreds of millions of dollars in crypto assets held in personal wallets and lacking multisig protection. According to co-founder Da Hongfei, this individual is Erik Zhang, who holds around 85% of the project's tokens, worth between $200 million and $250 million. Da has proposed a restructuring plan, which includes…
April 19, 2026, 11 a.m.