At the beginning of this year, NEO's two founders publicly clashed, which eventually led to the release of a financial report—and they even revealed the treasury address along the way. Back then, Erik accused Da of misusing foundation funds, while Da countered by claiming Erik controlled the treasury funds. According to the report, the total assets amount to $460 million. Excluding NEO and GAS owned by the project itself, the holdings include $118 million in stablecoins and 1,112 BTC, totaling $223 million. These funds mainly come from previous external investment returns and protocol revenue. For a project with a 12-year history, the financial health looks pretty solid, and the cash holdings are even comparable to FDV. However, the treasury address shown in the second image does indicate that some funds are under single-signature control. The report states that these are managed by Erik, primarily consisting of NEO and GAS assets. It’s still unclear how these will be handled moving forward. Currently, this report is just a preview version and hasn’t undergone third-party auditing yet. But after asking AI to scan the treasury address, the data seems to match up.