Neo's two main founders have disagreements again, with Zhang Zhengwen questioning the existence of embezzlement of public funds.

On March 3rd, after the Neo Foundation released its FY2025 financial report, the two co-founders, Erik Zhang and Da Hongfei, once again expressed 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 we have continuously evolved. The report clearly shows 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 of non-Neo assets are disclosed. The individual statements in the financial report cannot be verified. Furthermore, it must be seriously pointed out that the asset scale of non-nominal numbers in the Neo Foundation exceeds an extremely abnormal level. Why do the external investment returns of the Neo Foundation ultimately flow to private company NGD? This is blatant financial embezzlement.” For detailed background, see BlockBeats’ previous report, “The veteran domestic public chain NEO’s two founders clash, with opaque finances as the core issue.”