Neo's two co-founders at odds again, Zhang Zheng questioned the embezzlement of public funds

On March 3, following the release of the Neo Foundation’s 2025 fiscal year financial report, co-founders Erik Zhang and Da Hongfei again expressed conflicting views. Da Hongfei stated, “Over the past 12 years, we’ve navigated market cycles, structural shifts, and regulatory changes while evolving continuously. The report clearly outlines our current standing and future direction. Moving forward, clarity and execution will be key to breakthroughs.” Zhang raised doubts about the report, saying, “I only see Neo asset addresses disclosed by contributor Ricardo Prado—no addresses for non-Neo assets were shared. The individual line items in the financial statements cannot be verified. Moreover, it must be emphasized that the size of non-nominal-digit assets held by the Neo Foundation is highly abnormal. Why did the ultimate revenue from the Foundation’s external investments flow to the private firm NGD? This is blatant embezzlement of public funds.” For more details, refer to BlockBeats’ prior report: “Long-Running Domestic Public Chain NEO Sees Founders Clash, With Financial Opacity as the Core Issue” (link: https://www.theblockbeats.info/news/60740).