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Finance
A Co-Founder Holds the Keys to $200 Million in Crypto, Sparking a Governance Dispute
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 alone contr…
April 19, 2026, 11 a.m.
Finance
A Co-Founder Controls $200 Million in Crypto for a Project, Sparking Governance Debate
The NEO project's treasury has been managed through a unique 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 project's other co-founder and core protocol architect, holds around 85% of the assets, valued between $200 million and $250 million,…
April 19, 2026, 11 a.m.
Finance
Co-founder Holds Keys to $200 Million in Crypto, Sparking Governance Dispute
The treasury of a prominent crypto project has been controlled by a single individual, Erik Zhang, with hundreds of millions of dollars in assets held in personal wallets without multi-sig protection. 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…
April 19, 2026, 11 a.m.
Finance
Co-Founder Holds Keys to $200 Million in Project Crypto, Sparking Governance Debate
For years, the NEO treasury has been held in a single setup, with hundreds of millions of dollars in crypto assets controlled through personal wallets and no multi-sig protections. According to co-founder Da Hongfei, this person is Erik Zhang, who holds around 85% of the assets with single signature control. The native NEO and GAS tokens held by Zhang are currently worth between $200 million and …
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 has been managed in an unconventional manner, with hundreds of millions of dollars in crypto assets controlled by personal wallets and lacking 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 architect of its core protocol. Da estimates that Zhang holds between $2…
April 19, 2026, 11 a.m.
Finance
Co-Founder Holds Keys to $200 Million in Crypto Project, Sparking Governance Dispute
The NEO project's treasury, valued at hundreds of millions of dollars in crypto assets, has been managed through personal wallets without multisig protection or formal oversight. According to co-founder Da Hongfei, Erik Zhang, the project's other co-founder, controls around 85% of the assets with a single signature, estimated to be worth between $200 million and $250 million. Da has proposed a re…
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 in crypto assets, has been controlled through personal wallets with little oversight. According to Da Hongfei, co-founder Erik Zhang holds around 85% of the assets, worth between $200 million and $250 million, with single-signature control. Hongfei has proposed a restructuring plan, which includes relocating the Neo Foundation …
April 19, 2026, 11 a.m.
Finance
A Single Individual Controls $200 Million in Crypto Assets, Sparking Debate Over Project Governance
For years, the financial management of a prominent cryptocurrency project has been unusually informal, with hundreds of millions of dollars in digital assets controlled through personal wallets and lacking robust oversight. According to co-founder Da Hongfei, his fellow co-founder Erik Zhang holds the keys to approximately 85% of the project's assets, valued between $200 million and $250 million,…
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 was managed in an unconventional manner, with hundreds of millions of dollars in crypto assets controlled by personal wallets and 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, valued between $200 million …
April 19, 2026, 11 a.m.
Finance
A Single Individual Controls $200 Million in Crypto for a Project, Sparking Governance Debate
For years, the NEO project's treasury, valued at hundreds of millions of dollars in cryptocurrency, has been managed through an unconventional setup: personal wallets with no multi-signature protections and minimal formal oversight. According to co-founder Da Hongfei, the individual in control of this vast sum is Erik Zhang, the project's other co-founder and the architect of its core protocol. D…
April 19, 2026, 11 a.m.