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Finance
Co-Founder Holds Keys to $200 Million in Crypto, Sparking Governance Debate
The treasury of NEO, a cryptocurrency 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 Da Hongfei, co-founder of NEO, Erik Zhang, the project's other co-founder, holds around 85% of the assets, worth between $200 million and $250 million,…
April 19, 2026, 11 a.m.
Finance
Co-Founder Holds Key to $200 Million in Crypto Project, Sparking Governance Dispute
For years, the crypto project's treasury was managed through an unconventional setup, with hundreds of millions of dollars in assets controlled by personal wallets and lacking multisig protections and formal oversight. According to co-founder Da Hongfei, the person in control of these assets is Erik Zhang, the project's other co-founder and core protocol architect. Da estimates that Zhang holds a…
April 19, 2026, 11 a.m.
Finance
A Single Individual Controls $200 Million in Crypto for a Project, Sparking Governance Debate
The cryptocurrency project's treasury, valued at hundreds of millions of dollars, has been managed through personal wallets without multi-signature protections or formal oversight. According to co-founder Da Hongfei, the majority of these assets, approximately $200-250 million in NEO and GAS tokens, are controlled by co-founder Erik Zhang. Da estimates that around 85% of the assets are held by Zh…
April 19, 2026, 11 a.m.
Finance
Co-Founder Holds $200 Million in Project Crypto, Sparking Governance Dispute
The NEO project's treasury, valued at hundreds of millions of dollars in crypto assets, has been controlled through personal wallets with no multi-sig protections and little formal oversight. According to co-founder Da Hongfei, Erik Zhang, the project's other co-founder, holds around 85% of the assets, worth between $200 million and $250 million, with single signature control. Da has proposed a r…
April 19, 2026, 11 a.m.
Finance
Co-founder Holds Keys to $200 Million in Crypto, Sparking Governance Debate
The NEO project's treasury has been managed in an unconventional manner, 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, Erik Zhang, the project's other co-founder and core protocol architect, has sole control over around 85% of the assets, valued between $200 milli…
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 the NEO project has been 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 Da Hongfei, co-founder of NEO, the individual in control of these assets is Erik Zhang, the project's other co-founder and core protocol architect. Da stated…
April 19, 2026, 11 a.m.
Finance
A Single Individual Controls $200 Million in Crypto for a Project, Sparking Governance Debate
The NEO project's treasury has been managed in an unconventional manner, with hundreds of millions of dollars in crypto assets controlled through 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 architect of its core protocol. Da estimates that …
April 19, 2026, 11 a.m.
Finance
A Single Individual Holds the Keys to $200 Million in Crypto, Sparking a Governance Dispute
The cryptocurrency project's treasury, valued at hundreds of millions of dollars, has been controlled through personal wallets with no multisig protection, sparking concerns over governance and oversight. According to Da Hongfei, co-founder Erik 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 rest…
April 19, 2026, 11 a.m.
Finance
A $200 Million Crypto Project's Fate Hangs in the Balance as Co-Founders Clash
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 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 Zha…
April 19, 2026, 11 a.m.
Finance
One Individual Controls $200 Million in Project Crypto, Sparking Calls for Governance Reform
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, 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 t…
April 19, 2026, 11 a.m.