NEO Co-Founders Clash Over Governance, NEO/GAS Holdings, and Foundation Asset Transparency

COINOTAG News, January 1st, reports that the two co-founders of NEO — Zhang Zhiwen (Erik Zhang) and Da Hongfei — exchanged accusations of monopolizing financial power and lacking transparency. Zhang Zhiwen stated he would return to full management of the Neo mainnet to defend the core rights of NEO/GAS holders, and he disclosed the current NEO governance structure and assets under management.

He noted that the vast majority of NEO and GAS assets of the Neo Foundation are openly distributed among 21 initial node addresses and one multisig wallet. Earlier, during Da Hongfei‘s request for him to step down from Foundation management, approximately 8 million NEO/GAS tokens were moved to multisig addresses designated by Da Hongfei at his request. In addition to the transparent NEO/GAS, all auxiliary assets (including BTC, ETH, and other ecosystem project tokens) are reportedly under Da Hongfei‘s personal control.

Zhang Zhiwen stated these assets have been in a “black box” state for many years, and Da Hongfei has yet to provide verifiable financial statements, asset lists, or audit evidence. The report highlights governance tensions and calls for credible disclosures to preserve investor confidence in the NEO ecosystem.