One person holds the keys to $200 million of a project’s crypto. His co-founder says that has to end

What Happened

NEO co-founder Erik Zhang controls approximately $200 million in cryptocurrency assets through personal wallets without multisig protection, according to co-founder Da Hongfei. The dispute has escalated into rival governance proposals since December. Da proposes relocating NEO Foundation to Cayman Islands and replacing two-founder governance with an independent board, barring both founders for 24 months and redistributing tokens to holders.

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