As fireworks lit up the skies on New Year’s Eve, Neo founders Erik Zhang and Da Hongfei were trading barbs in a fiery public spat, slinging accusations about mishandled treasuries and shady governance moves that have rocked this veteran blockchain project.
Neo launched back in 2014, skyrocketed during the 2017 bull run, earning its reputation as “China’s Ethereum.” It was all about those smart contracts and a design that played harmoniously with regulations, positioning it as a homegrown crypto gem for China’s tech scene.
But now, the Neo Founders crypto clash is unfolding like a blockbuster plot twist
Zhang says he bowed out of leadership after Da pushed for solo control, claiming joint decisions were dragging Neo down.
“Either you step away, or I do? I’m cool either way,” Zhang quoted Da from a private chat. Thinking it was best for the project, Zhang stepped aside right then and there.
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But if you thought this was some amicable split, you are wrong.
2025 ended with an explosive fallout, with Zhang accusing Da of being on a rival blockchain while utilizing Neo’s resources.
He demanded total transparency on the Neo Foundation’s assets, insisting it was time to air out the dirty laundry in the crypto space.
Da, however, called the allegations all “false” and pinned the blame on Zhang for dragging his feet on securing the treasury with multisig tech.
Multisig is now considered a must-have for any serious crypto project.
“A blockchain’s treasury can’t be in one guy’s hands after years of operation,” Da shot back, accusing Zhang of stalling the handover.
Zhang doubled down, claiming most of Neo’s non-NEO/GAS assets were under Da’s thumb for ages. Da countered that NEO and GAS were always the bulk, labeled Zhang a liar, and teased an upcoming financial report to set the record straight.
The Neo Foundation is staying out of the fray, assuring everyone that ops won’t skip a beat and that Q1 reports are on the way. In the crypto arena, where trust is everything, Neo Founders feud’s got everyone watching.
