2025-12-31 12:21:01

Ancient blockchain projects are once again embroiled in disputes, this time over financial transparency and power distribution.

Neo co-founder and core developer Erik Zhang recently published a statement accusing project founder Da Hongfei of failing to fulfill promises of financial disclosure. According to a clear agreement reached during their most recent phone call, relevant financial disclosure processes should have been initiated starting in 2026, but this commitment has yet to be fulfilled.

Erik Zhang further accused Da Hongfei of monopolizing the foundation’s financial rights, which is particularly ironic in a project that claims to be decentralized. Lack of transparency in financial governance has long been a pain point for established crypto projects—ranging from internal power struggles to loss of community confidence, almost becoming a classic scenario during bear markets.

This rupture among Neo’s founders once again exposes some deep-rooted governance issues in blockchain projects. As the project scales and interests become more complex, the gap between initial ideals and reality often turns into irreconcilable conflicts.

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FromMinerToFarmer

· 7h ago

Haha, this is the legendary "decentralization," hilarious. I already said it, promises are all empty, once the money is in place, they'll turn hostile. It's another financial black hole and power struggle, same old story. Neo is really impressive, even the founders are arguing. Promised for 2026, and it's already 2024 with no sign of progress—impressive speed. The most ironic thing about decentralized projects is this—ultimately, one person makes the decisions. Who still believes in this within the ecosystem? I think it's quite unlikely.

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BankruptWorker

· 7h ago

Here we go again, Neo is about to stage a "power struggle drama" The lack of financial transparency is indeed outrageous, has decentralization become a one-person show? If promises for 2026 can be broken, who exactly gave the courage? Old projects have this problem, the more centralized they become, the more absurd it gets

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token_therapist

· 7h ago

Coming again? Neo is still internal strife, under the guise of decentralization, it's still one person calling the shots. --- Damn, the promised financial disclosure, the pie-in-the-sky plan until 2026, this operation really makes me laugh. --- Big projects are all like this; founders having too much power will eventually lead to problems—it's a historical pattern. --- Erik really tore the face this time; it seems Neo's internal conflicts are now irreconcilable. --- It's the old trick again; decentralized projects ultimately end up with concentrated power—what a irony. --- Why do we always have to wait until a fight breaks out to expose the truth? The community should have been alert long ago. --- Financial opacity is a ticking time bomb, it will explode sooner or later. --- Neo's recent experience feels quite damaging; it will take time to rebuild trust. --- The collapse of cooperation shows one thing: the profit distribution wasn't negotiated well. --- Why do so many projects get caught up in issues over power distribution?

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ForkItAllDay

· 7h ago

Haha, another good show. In decentralized projects, it's still one person who makes the final decision. Forget 2026, I don't think I'll ever be transparent in this lifetime. All power is in their hands, what transparency are you talking about? Neo is heading down the old EOS path, internal conflicts, internal conflicts, always fighting internally. Da Hongfei: I am the center, I am the consensus. This is the true spirit of blockchain—a chain of one person. The bear market reveals the true nature; now it's clear.

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GasGoblin

· 7h ago

Here we go again, I've seen this trick countless times... Promised decentralization, but in the end, one person still calls the shots. Financial transparency won't happen until 2026? How dark does it have to get to reach that point? Neo is a bit shaken this time, it feels like they've really torn their face apart. Power struggles never change.

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GasFeeCrybaby

· 7h ago

Oops, Neo is at it again. Didn't we agree to disclose in 2026? There's still no news. Decentralized projects always end up being decided by one person, which is ridiculous. Power, once involved, no one is willing to let go. Why is Erik only speaking out now? Why didn't he do it earlier? Financial black boxes, it's a common issue in crypto. This is the typical problem in the industry. Feels like Neo is going to fade away... the community should wake up. Promises are as good as waste paper. How can governance work? It's either internal conflicts or lack of transparency. We're tired of these old tricks.

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MEVHunter

· 7h ago

It's the same old trick again, claiming that decentralization results in all power being in one person's hands. That's hilarious. They dare to make financial disclosure commitments for 2026 and then back out. How big must the audit arbitrage space be?

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