‘China’s Ethereum’s’ civil war, Japan to embrace Bitcoin ETFs: Asia Express

“China’s Ethereum” co-founders clash on New Year’s Eve over Neo’s treasury, major Asian economies warm up to Bitcoin ETFs. Asia Express

Neo co-founders Erik Zhang and Da Hongfei clashed on New Years Eve in a heated public exchange, accusing each other of mismanaging the blockchains treasury and misrepresenting years of internal governance decisions.

Neo is a long-running smart contract network founded in 2014 that rose to prominence during the 2017 bull market, when it was widely dubbed Chinas Ethereum. The nickname reflected its early focus on smart contracts and regulatory-friendly design, similar in ambition to Ethereum but marketed as a domestic alternative for Chinas tech ecosystem.

Zhang said he originally stepped away from Neo leadership after Da argued that joint oversight of the foundation was slowing the project. 

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