CZ-Linked Firm Demands Board Overhaul at BNB Treasury Company

Changpeng Zhao’s investment firm YZi Labs has filed a formal request with the Securities and Exchange Commission to restructure the board of CEA Industries (BNC), the public company holding BNB in its treasury. The move follows a sharp decline in BNC shares – plummeting 92% since their peak, despite the underlying cryptocurrency reaching record highs. YZi Labs claims this is due to mismanagement by BNC’s management team and requests shareholder approval for four key changes, including expanding the board and installing their preferred nominees as directors.