Disagreements arise again between Neo’s two founders, with Zhang Zhengwen questioning possible misappropriation of public funds

BlockBeats news, on March 3, after the Neo Foundation released its financial report for fiscal year 2025, the two co-founders Erik Zhang and Da Hongfei once again had differing opinions. Regarding the financial report, Da Hongfei stated, "Over the past 12 years, we have experienced market cycles, structural transformations, and regulatory changes, and have continued to evolve. The report clearly demonstrates our current status and future direction. Looking ahead, clarity and execution are key to breakthroughs."

Erik Zhang questioned the financial report, saying, "I only see the Neo asset addresses disclosed by contributor Ricardo Prado, but no addresses for non-Neo assets have been disclosed, and the individual statements in the financial report cannot be verified. In addition, it must be seriously pointed out that the scale of non-nominal digital assets at the Neo Foundation is extremely abnormal. Why did the external investment income of the Neo Foundation ultimately flow to the private company NGD? This is blatant financial embezzlement of public funds."

For a detailed account of the incident, see BlockBeats' previous report, "Veteran Domestic Public Chain NEO's Two Founders Clash, Financial Opacity Is the Core Reason".