A public dispute erupted between Neo’s two co-founders. Eric Chan and Da Hongfei have criticized X over monetary administration, monetary transparency and governance. The disagreement, which had been creating for a number of weeks, escalated on December thirty first, with either side releasing detailed statements to the neighborhood.
On the coronary heart of the dispute over monetary transparency
Neo founder and core developer Eric Zhang accused Da Hongfei of not conserving his promise to launch monetary disclosures. It has one thing to do with the Neo Basis (NF). Mr. Zhang requested for a whole and verifiable monetary report. Features a full stock of belongings managed by the Basis and detailed expenditure information.
Contemplating that @dahongfei has not fulfilled its earlier commitments, issued no formal public statements, and has not disclosed any related monetary stories to the neighborhood, I’m compelled to unilaterally difficulty this assertion within the curiosity of transparency and accountability. https://t.co/ylGFjX6DhG
— Eric Zhang (@neoerikzhang) December 31, 2025
He stated this regardless of a previous promise made throughout a cellphone dialog in early December. No formal assertion or monetary report has been launched. Zhang argued {that a} lack of disclosure prevents the neighborhood from assessing how the inspiration’s funds are held and used. He described the state of affairs as a “black field.” Zhang additionally stated the deal was concluded primarily based on what he claimed was an settlement. Da Honfei will concentrate on NeoX and SpoonOS beginning January 1, 2026. He will even avoid points associated to the Neo mainnet.
Dai Hongfei refutes declare to manage the Ministry of Finance
Neo’s different co-founder, Da Honfei, rejected Zhang’s accusations and publicly refuted them. He stated it was “ironic” that somebody would ask him to reveal monetary info. He claims management over the vast majority of Neo’s funds and consensus node voting energy.
It’s ironic that the one that controls the vast majority of Neo’s funds, determines consensus node voting, and has no qualms about hijacking the protocol on the expense of the neighborhood and token holders would demand “monetary disclosure.”
Blockchain…
— Da Hongfei (@dahongfei) December 31, 2025
In keeping with Da, he has repeatedly urged Zhang to maneuver his NEO and GAS tokens from private custody to a multi-signature pockets managed by NF. He claimed that blockchain tasks can not perform securely. If its treasury continues to be below the management of a single particular person.
Da Hongfei stated she had beforehand prevented publicizing the difficulty to guard the belief of the neighborhood. However the neighborhood misunderstood his silence, he added. He confirmed that the crew plans to launch its 2025 year-end monetary report for NF and Neo International Improvement within the first quarter of 2026. If attainable, we plan to share provisional figures prematurely.
Governance and battle of curiosity allegations
The dispute prolonged past monetary reporting to broader governance points. Zhang made this declare after separating from Neo previously. Da Honfei has began creating one other blockchain undertaking. Zhang described this as a competing effort. He framed this as a battle of curiosity that weakened Neo’s inner checks.
It was good. At the least for now, there are clear indicators that monetary stories will finally be produced.
Earlier than discussing how we must always safe the nationwide treasury, let’s first make clear what exists.
That is non-negotiable.
You’re the one who has held the vast majority of NF’s belongings for a few years.
So… https://t.co/bB8N4zfOvz— Eric Zhang (@neoerikzhang) December 31, 2025
Mr. Da Hongfei denied these allegations. As an alternative, it pushed forward with a proposal to have Neo managed by a single particular person, out of concern about extended delays in securing the Treasury through multisig. Particularly, it stated that for the protection of the community and its customers, such storage preparations are “non-negotiable.” In consequence, each founders accused one another of misrepresenting the info, resulting in repeated back-and-forth over who controls which belongings and why sure funds stay outdoors of multisig administration.
Group response and subsequent steps
The general public nature of this controversy prompted robust reactions from the Neo neighborhood. Many customers have referred to as on each founders to calm down and concentrate on releasing clear monetary stories. Particularly, he argued that transparency is the quickest strategy to restore belief. In response, a number of neighborhood members highlighted the danger that the battle might overshadow Neo’s improvement progress at a troublesome time for the market. Because the back-and-forth continues, observers are actually targeted on whether or not the crew will make the monetary disclosures it promised. Asset custody and governance duties will change into clear in early 2026. At the moment, this disagreement stays unresolved, with each founders sustaining their positions whereas the talk continues in public.
