Crypto Project Governance in Jeopardy Over Power Struggle

A dispute has emerged within a crypto project's leadership regarding the management of its funds. Co-founders Da Hongfei and Erik Zhang have differing views on how to restructure the project's governance.

Da Hongfei is pushing for independent governance, which would grant control over $200 million worth of cryptocurrency to a decentralized entity. This measure aims to prevent any one individual from holding excessive power within the organization.

Erik Zhang, however, prefers accountability investigations before making any changes to the current structure. He also wishes to remain on the board, which may indicate his desire for continued involvement in decision-making processes.