Neo co-founders escalate public feud over treasury control and transparency

Neo co-founders Erik Zhang and Da Hongfei are engaged in a public dispute concerning the financial management and transparency of the Neo Foundation's assets. Zhang accused Hongfei of failing to release promised financial reports and suggested a leadership shift, demanding a verifiable breakdown of assets and spending to address community concerns. Hongfei countered by accusing Zhang of controlling the majority of the treasury and consensus nodes, arguing this concentration of power poses a risk, and noted his long-standing advocacy for moving NEO and GAS into multisig custody. Zhang further alleged that Hongfei was developing a separate blockchain project, EON, creating a conflict of interest. Hongfei dismissed these claims as fabrications. Zhang committed to releasing a comprehensive financial report by the first half of Q1 2026 to resolve the dispute.

(Source：Crypto Briefing)