I just saw the drama that unfolded between the Neo co-founders over the 2025 financial report. Da Hongfei is defending the report, saying it accurately reflects the foundation's development over these 12 years, but Erik Zhang is not satisfied at all.

The interesting point is that the breaking point is financial transparency. Erik questions why the report doesn't clearly detail what happened to assets that are not Neo, and that's already a serious issue in any foundation. But the most intense part is when he accuses the foundation of embezzlement, specifically questioning why external investment income ended up in NGD, which is a private company.

This touches an important nerve in the crypto community. When we talk about financial transparency in decentralized projects, people expect everything to be clear and verifiable. If funds are moved to private entities without a clear explanation, it's natural for suspicions to arise.

Da Hongfei argues that the report shows Neo's current status and future direction, but apparently that's not enough for Erik. The discrepancy between the two co-founders about how the numbers are communicated is quite revealing. One emphasizes the progress narrative, the other demands concrete data and transparency.

It's a reminder that even in established projects, governance and clear resource communication remain points of friction. We'll have to see how they resolve this.