One person holds the keys to $200 million of a project’s crypto. His co-founder says that has to end
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NEO co-founder Erik Zhang controls $200-250 million in crypto assets without multi-signature security. Co-founders Da Hongfei and Zhang have opposing plans for restructuring; Da advocates for independent governance and multi-sig protection, while Zhang seeks accountability investigations and wishes to remain on the board. NEO's treasury has approximately $460 million in assets, which is double the project's market value of $197 million, despite the token's 98% decline since its 2018 peak.
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