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Finance
A Single Individual Controls $200 Million in Crypto for a Project, Sparking Calls for Governance Reform
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, Erik Zhang, the project's other co-founder and core protocol architect, holds around 85% of the assets, worth between $200 million and $250 mi…
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 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 around 85% of these assets, valued between $200 million and $250 million, is Erik Zhang, the proje…
April 19, 2026, 11 a.m.
Finance
A Single Individual Controls $200 Million in Crypto for a Project, Prompting Calls for Change
The treasury of a major 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 estimat…
April 19, 2026, 11 a.m.
Finance
Co-Founder Holds Keys to $200 Million in Crypto, Sparking Governance Dispute
For years, the NEO project's treasury was controlled through personal wallets with no multisig protections, a setup that would be unusual for most financial institutions. 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 estimated that the native NEO and GAS…
April 19, 2026, 11 a.m.
Finance
A Co-Founder Holds the Keys to $200 Million in Crypto, Sparking a Governance Crisis
The NEO project's treasury, valued at hundreds of millions of dollars, has been controlled through personal wallets with no multi-signature protections or 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…
April 19, 2026, 11 a.m.
Finance
A Co-Founder Holds the Keys to $200 Million in Crypto, Sparking a Governance Dispute
The cryptocurrency project NEO has been embroiled in a long-standing dispute over its governance structure, with co-founder Da Hongfei claiming that fellow co-founder Erik Zhang holds the keys to approximately $200 million in crypto assets. This unusual arrangement, in which hundreds of millions of dollars in crypto assets are controlled through personal wallets with no multi-signature protection…
April 19, 2026, 11 a.m.
Finance
A Single Individual Controls $200 Million in Crypto for a Project, Sparking Concerns Over Governance
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 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 e…
April 19, 2026, 11 a.m.
Finance
Alcoa Set to Leverage Crypto's Energy Demand by Repurposing Idle Smelter
Alcoa, the largest aluminum producer in the US, is on the verge of selling its inactive Massena East smelter in upstate New York to New York Digital Investment Group (NYDIG), a firm focused on Bitcoin mining. This move is part of Alcoa's broader effort to divest idle assets and tap into the growing demand for industrial sites with readily available energy infrastructure. According to Alcoa's CEO,…
April 18, 2026, 8:21 p.m.
Finance
Alcoa Set to Leverage Crypto's Energy Demand with Sale of Dormant Smelter
Alcoa, the largest aluminum producer in the United States, is on the verge of selling its inactive Massena East smelter in upstate New York to New York Digital Investment Group (NYDIG), a firm involved in Bitcoin mining. This move is part of Alcoa's broader strategy to divest dormant assets and tap into the growing demand for industrial sites with readily available energy infrastructure. Accordin…
April 18, 2026, 8:21 p.m.
Finance
Alcoa Set to Leverage Crypto's Energy Demands by Repurposing Idle Smelter
Alcoa, the leading aluminum producer in the United States, is on the verge of selling its dormant Massena East smelter in upstate New York to New York Digital Investment Group (NYDIG), a prominent Bitcoin mining company. This move is part of Alcoa's strategy to divest idle assets and capitalize on the demand for industrial sites with readily available energy infrastructure. According to Alcoa's C…
April 18, 2026, 8:21 p.m.