TechFlow news, on December 31, Da Hongfei, founder of the Neo blockchain project, engaged in a public dispute with Erik Zhang on social media, centering on control over project assets and financial transparency. Da Hongfei accused Erik of unilaterally controlling most of Neo's treasury funds and consensus node voting rights, and for years refusing to transfer NEO/GAS tokens from personal custody to the foundation's multi-signature address despite having promised to do so upon completion of the N3 migration.
Erik countered that all Neo Foundation assets except NEO/GAS have long been solely controlled by Da Hongfei, who has provided no complete, verifiable financial disclosures to the community or any independent party, creating a "complete black box operation." Erik stated that placing NEO/GAS under Da's personal control would have "catastrophic consequences" for Neo. Da has committed to releasing the 2025 financial report in the first quarter of 2026.
