Neo Foundation Rocked by Public Dispute Over Treasury Control

Neo Foundation's co-founders are publicly disputing over treasury control, financial transparency, and governance, with both sides accusing each other of withholding information and delaying asset transfers.

Neo Foundation is facing a public dispute between its co-founders, Erik Zhang and Da Hongfei, over financial transparency, treasury control, and governance. Zhang has accused Hongfei of not providing a full, verifiable financial report for the Foundation and demands immediate disclosure of all assets and expenditures. In response, Hongfei claims Zhang controls the majority of the treasury and consensus node voting, making it ironic for Zhang to request transparency. Hongfei also states he has repeatedly asked Zhang to transfer NEO and GAS tokens to the Foundation’s multisig addresses, but Zhang has delayed. Both have pledged to release a financial report for the end of 2025 in early 2026. The dispute highlights ongoing governance and decentralization challenges within the Neo project, raising concerns about leadership concentration and transparency during a critical period for the blockchain industry.