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$NEO Update 🚨: On Dec 31, 2025, Neo co-founder Erik Zhang publicly accused Da Hongfei of failing to provide transparent disclosure of the Neo Foundation's finances and demanded a full, verifiable financial report. Zhang also stated that Da Hongfei would step back from work on the Neo mainnet starting January 1, 2026, to focus on side projects like NeoX and SpoonOS.
In response, Da Hongfei countered that Erik Zhang controls the majority of Neo's treasury (NEO/GAS assets) and consensus node voting power, arguing that a blockchain project should not be controlled by one individual. Da claimed he has long advocated for transferring these assets to the Neo Foundation's multisig wallets, but Zhang has repeatedly delayed it. Da also committed to releasing a full financial report for 2025 in Q1 2026, with preliminary figures shared earlier.