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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 through personal wallets with little formal oversight. According to co-founder Da Hongfei, Erik Zhang, the project's other co-founder, holds around 85% of the treasury, worth between $200 million and $250 million, with single-signature control. Da has proposed a restructuring plan, which includes relocating…
April 19, 2026, 11 a.m.
Finance
A Crypto Project's $200 Million Conundrum: One Person Holds the Keys
The unusual setup of a cryptocurrency project's treasury, where hundreds of millions of dollars in assets are controlled by a single individual, has sparked a heated debate between its co-founders. Da Hongfei, one of the co-founders, has expressed concerns that Erik Zhang, the other co-founder, has sole control over approximately 85% of the project's assets, valued between $200 million and $250 m…
April 19, 2026, 11 a.m.
Finance
Co-Founder Holds Keys to $200 Million in Crypto, Sparking Governance Debate
For years, NEO's treasury was managed through an unconventional setup, 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, Erik Zhang, the other co-founder and architect of NEO's core protocol, has sole control over approximately 85% of the assets, worth between $200 million an…
April 19, 2026, 11 a.m.
Finance
A $200 Million Crypto Conundrum: Co-Founder's Grip on Project's Assets Sparks Debate
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, lacking multisig 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 estimates that Zhang holds aroun…
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 through personal wallets and lacking multi-signature protections. According to co-founder Da Hongfei, his fellow co-founder Erik Zhang holds around 85% of the project's assets, valued at between $200 million and $250 million, with single-signat…
April 19, 2026, 11 a.m.
Finance
Co-Founder Holds Keys to $200 Million in Crypto, Sparking Governance Debate
The control of hundreds of millions of dollars in cryptocurrency has been a point of contention for the NEO project, with its co-founder Da Hongfei stating that the current setup is unusual and lacks proper oversight. According to Da, his fellow co-founder Erik Zhang has sole control over approximately 85% of the project's crypto assets, including NEO and GAS tokens, which are currently valued be…
April 19, 2026, 11 a.m.
Finance
Co-founder Holds $200 Million in Project Crypto, Sparking Governance Dispute
The NEO project's treasury, worth hundreds of millions of dollars in crypto assets, has been controlled through personal wallets with no multi-signature protections and little oversight. Co-founder Da Hongfei claims that Erik Zhang, the project's other co-founder, holds around 85% of the treasury, valued between $200 million and $250 million, with single-signature control. Da has proposed a restr…
April 19, 2026, 11 a.m.
Finance
Co-founder of $200 Million Crypto Project Calls for End to Single-Person Control
The NEO project's treasury, valued at hundreds of millions of dollars, has been controlled by a single individual, co-founder Erik Zhang, without multisig protection or formal oversight. According to co-founder Da Hongfei, Zhang holds around 85% of the project's assets, including native NEO and GAS tokens worth between $200 million and $250 million. Da has proposed a restructuring plan that inclu…
April 19, 2026, 11 a.m.
Finance
A Co-Founder Holds the Keys to $200 Million in Crypto, Sparking Governance Debate
The NEO project has been operating with an unconventional setup, where hundreds of millions of dollars in cryptocurrency have been controlled by 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. Da estimates that Zhang hol…
April 19, 2026, 11 a.m.
Finance
Co-Founder Holds the Reins to $200 Million in Project Funds, 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 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 estimates that Zhang h…
April 19, 2026, 11 a.m.