Neo co-founder Da Honfei introduced the outcomes of an unbiased consensus course of overview inspecting Neo World Improvement’s digital asset holdings. The investigation, performed by a Hong Kong-based CPA agency whose identification has not been made public, confirmed the amount of seven digital property held in NGD Binance accounts as of March 30.
This publication marks the primary accomplished output from the unbiased monetary overview course of that NGD introduced on March twentieth. This follows Mr Dar’s promise on the AMA on March 4 to safe at the least one audit agency by the top of March, a dedication made amid continued neighborhood scrutiny of Neo’s monetary transparency.
Report contents
AUP’s efforts had been performed in accordance with Hong Kong Normal 4400 (Revised) for Associated Providers. AUP just isn’t an audit or assurance engagement. The practitioner performs particular steps agreed with the consumer and experiences findings of reality with out expressing an opinion on the monetary statements as an entire.
Three steps had been carried out. First, practitioners obtained a listing of digital property created by Da Honfei, a director of Neo World Improvement Ltd, an organization included within the British Virgin Islands.
The practitioner then noticed the Binance account holder underneath Da’s operations and confirmed that the account (consumer ID 36226729) was registered with Neo World Improvement Ltd.
Lastly, the practitioner in contrast the portions proven within the Binance account with the Da listing and confirmed that they matched.
Confirmed possession
Verified NGD Binance accounts include the next digital property as of March 30, 6:37 AM UTC:
- USDC: 111,536,196.92
- BTC: 1,110.34
- Neo: 1,254,424.03
- Gasoline: 1,600,697.17
- USDT: 648,842.43
- Ethereum: 93.58
- BNB: 27.89
This report supplies portions solely and doesn’t embrace valuation in USD.
Scope and limitations
The AUP covers digital property presently held by NGD. Neo’s fiscal yr 2025 monetary report, revealed in March, revealed that as of December 31, 2025, the consolidated monetary property of each Neo Basis and NGD had been US$460.8 million. Of this quantity, NGD accounted for $236.1 million.
The report itself notes that extra procedures might have uncovered additional points and that the outcomes is probably not appropriate for functions apart from to help the Firm.
transparency context
The engagement with AUP is a part of a broader transparency effort following public disagreements between Mr. Da and one other Neo co-founder, Eric Chan, over Treasury oversight and monetary disclosure.
In a dialog with Neo Information As we speak, Da famous that NGD has built-in property into Binance accounts to simplify the verification course of, amongst different issues. Whereas there are actual challenges in verifying asset holdings throughout a number of self-custodial wallets, CPA companies can use a single registered change account to confirm each possession and asset amount in a single place.
Da additionally famous that the CPA agency had requested that its title not be revealed with the report. Accounting companies that work with crypto shoppers face heightened reputational and regulatory dangers, a pattern that intensified after the FTX collapse in 2022, when companies comparable to Moms Group and Armanino lower ties with crypto corporations underneath strain from regulators and their very own non-crypto shoppers. A 2023 Bloomberg examine discovered that many crypto corporations cited auditors’ unwillingness to get entangled as the rationale for the shortage of unbiased evaluations. On this atmosphere, some corporations are taking over involvement in digital property on the situation that their involvement is not going to be made public.
Neo’s restructuring roadmap, outlined in its 2025 report, targets 4 transitions by the top of 2026: multi-signature custody of all property, community-driven governance, annual reporting with unbiased audits, and neighborhood empowerment pathways.
The finished AUP represents the primary unbiased exterior verification of a few of Neo’s reported monetary holdings.
The total publish could be seen on the hyperlink beneath.
https://x.com/dahongfei/standing/2039298961660616954
