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Finance
Co-Founder Holds Keys to $200 Million in Crypto, Sparking Governance Dispute
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 multi-sig protection and limited 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, which…
April 19, 2026, 11 a.m.
Finance
A Single Individual Controls $200 Million in Crypto for a Project, Sparking Calls for Change
For years, 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 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.…
April 19, 2026, 11 a.m.
Finance
$200 Million in Crypto Assets Held by One Person Sparks Governance Debate
The NEO project's treasury, valued at hundreds of millions of dollars, has been managed through personal wallets with little oversight, sparking a heated debate over governance. Co-founder Da Hongfei claims that Erik Zhang, the project's other co-founder, controls around 85% of the assets, worth between $200 million and $250 million, with a single signature. Da has proposed a restructuring plan, …
April 19, 2026, 11 a.m.
Finance
A Single Individual Holds the Keys to $200 Million in Crypto, Sparking a Governance Dispute
For years, the treasury of a prominent cryptocurrency project was managed through an unconventional setup, with hundreds of millions of dollars in assets controlled by personal wallets lacking multi-signature protections and formal oversight. According to co-founder Da Hongfei, this individual is Erik Zhang, the project's other co-founder and core protocol architect. Da estimates that Zhang alone…
April 19, 2026, 11 a.m.
Finance
Co-founder's Control Over $200 Million in Crypto Assets Sparks Dispute
The NEO 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 Da Hongfei, co-founder Erik Zhang controls around 85% of the assets with a single signature. The native NEO and GAS tokens held by Zhang are estimated to be worth between $200 million and $250 million. Da has propose…
April 19, 2026, 11 a.m.
Finance
A Single Individual Holds the Keys to $200 Million in Crypto Assets, Sparking Calls for Governance Reform
For years, 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 multi-sig 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.
Finance
A Single Individual Controls $200 Million in Crypto for a Project, Sparking Governance Debate
For several years, the NEO project's treasury was managed in an unconventional manner, with hundreds of millions of dollars in cryptocurrency assets controlled through personal wallets lacking multi-signature protections and formal oversight. According to co-founder Da Hongfei, this responsibility falls on the shoulders of Erik Zhang, the project's other co-founder and core protocol architect. Da…
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 has been held in a unique 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 in control of these assets is Erik Zhang, the other co-founder and architect of NEO's core protocol. Da estimates that Zhang alone controls ar…
April 19, 2026, 11 a.m.
Finance
A Single Individual Controls $200 Million in Crypto for a Project, 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, the individual in control of these assets is Erik Zhang, the project's other co-founder and core protocol architect. Da est…
April 19, 2026, 11 a.m.
Finance
Co-Founder Holds Keys to $200 Million in Project Funds, Sparking Governance Dispute
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 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 Zhang…
April 19, 2026, 11 a.m.