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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 cryptocurrency, has been managed through personal wallets without multi-signature security or formal oversight. According to co-founder Da Hongfei, Erik Zhang, the project's other co-founder, controls around 85% of the funds with a single signature. The tokens held by Zhang are estimated to be worth between $200 million and …
April 19, 2026, 11 a.m.
Finance
A Single Individual Controls $200 Million in Crypto, Sparking Governance Debate
The treasury of a prominent cryptocurrency 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, his fellow co-founder Erik Zhang has sole control over approximately 85% of the project's assets, valued between $200 milli…
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 or formal oversight. According to co-founder Da Hongfei, the individual controlling around 85% of these assets is Erik Zhang, the project's other co-founder and core protocol architect. …
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 unconventional financial setup, where hundreds of millions of dollars in crypto assets have been controlled by personal wallets with no multisig protections and little formal oversight. According to co-founder Da Hongfei, the person controlling around 85% of the funds is Erik Zhang, the other co-founder and architect of NEO's core protocol…
April 19, 2026, 11 a.m.
Finance
A $200 Million Crypto Project's Fate Hangs in the Balance as Co-Founders Disagree
The NEO project's treasury, valued at hundreds of millions of dollars, has been managed through personal wallets with little oversight, a setup that co-founder Da Hongfei considers unusual for most financial institutions. According to Da, co-founder Erik Zhang controls around 85% of the project's assets, including native NEO and GAS tokens worth between $200 million and $250 million, with single-…
April 19, 2026, 11 a.m.
Finance
Co-Founder Holds Keys to $200 Million in 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, lacking multisig protections and formal oversight. According to co-founder Da Hongfei, Erik Zhang, the project's other co-founder, has sole control over approximately 85% of the assets, valued between $200 million and $250 million…
April 19, 2026, 11 a.m.
Finance
A Single Individual Controls $200 Million in Crypto Assets, Sparking Concerns Over Project Governance
For several years, the treasury of a prominent crypto project has been managed through an unconventional setup, with hundreds of millions of dollars in digital assets controlled by personal wallets, lacking multisig protection and formal oversight. According to co-founder Da Hongfei, his fellow co-founder Erik Zhang has sole control over approximately 85% of the project's assets, valued between $…
April 19, 2026, 11 a.m.
Finance
A Co-Founder Holds the Keys to $200 Million in Crypto, Sparking a Governance Dispute
For years, the NEO treasury was managed through an unusual 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, Erik Zhang, the other co-founder and architect of NEO's core protocol, holds around 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, the NEO 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, the individual controlling around 85% of these assets with a single signature is Erik Zhang, the other co-founder and architect of NEO's core protocol. D…
April 19, 2026, 11 a.m.
Finance
One Co-Founder Holds the Keys to $200 Million in Crypto, Sparking Governance Debate
For years, the NEO 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, 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 a…
April 19, 2026, 11 a.m.