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NEO Co-Founders in Public Dispute Over Fund Control and Governance

Erik Zhang announces return to full mainnet management, outlining governance details and alleging Da Hongfei controls BTC and ETH assets without transparent reporting.

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Fact Check
The evidence provided unanimously and consistently supports the statement. All ten sources, ranging from high-authority market data platforms like CoinMarketCap to dedicated crypto news outlets and social media aggregators, report on a public dispute between the co-founders of NEO. The subject of this dispute is explicitly and repeatedly identified across all reports as concerning the control of project funds, financial transparency, treasury management, and overall project governance. Key phrases such as 'Founder Governance Crisis,' 'financial dispute,' 'treasury control,' and 'governance takeover' are used consistently throughout the provided summaries. There are no contradictions in the evidence; every source corroborates the core claims of the statement, providing a cohesive and strong body of evidence.
Summary

NEO co-founders Erik Zhang and Da Hongfei have escalated their dispute over financial control and transparency. Zhang declared he will resume full management of the Neo mainnet, unveiled the project’s governance structure, and alleged that Da controls auxiliary assets, including Bitcoin and Ethereum, in a 'black box' without verifiable reports. Both accuse each other of monopolizing finances and lacking transparency, deepening the ongoing governance crisis within the project.

Terms & Concepts
  • NEO: A blockchain platform and cryptocurrency designed to create a scalable network of decentralized applications.
  • GAS: A cryptocurrency token used to pay for transactions and computational services on the NEO blockchain.
  • Mainnet: The primary network where a blockchain’s real transactions occur, as opposed to testnets used for development and testing.