Neo Co-Founder Erik Zhang Announces Governance Structure and Financial Status, Announces Return to Mainnet Management

Odaily News NEO's two co-founders, Erik Zhang and Da Hongfei, have accused each other of monopolizing financial control and lacking transparency. In response, Erik Zhang stated that he will return to manage the Neo mainnet comprehensively to defend the core interests of NEO/GAS holders. Simultaneously, Erik Zhang disclosed the current Neo governance structure and the status of managed accounts.

Zhang stated that the vast majority of NEO and GAS assets held by the Neo Foundation are publicly distributed across 21 initial node addresses and one multi-signature wallet. Previously, during the period when Da Hongfei requested his withdrawal from foundation management, approximately 8 million NEO/GAS tokens were transferred to multiple multi-signature addresses designated by Da Hongfei as per his request. Apart from the aforementioned transparent NEO/GAS assets, all auxiliary assets held by the Neo Foundation (including but not limited to BTC, ETH, and tokens from other ecosystem projects) are currently under the actual personal control of Da Hongfei. Zhang claims that these assets have remained in a "black box" state for years, and Da Hongfei has so far failed to provide any verifiable financial statements, asset lists, or audit proofs.