CZ’s YZi Labs Seeks Control of CEA Industries, Targeting Leadership Overhaul

YZi Labs, a firm backed by prominent figure Changpeng Zhao (CZ), has initiated a bid to gain control of CEA Industries, a publicly traded company that manages assets for Binance. The initiative comes after months of tension regarding operational delays and communication issues at the BNB-focused firm. YZi Labs’ written consent statement seeks to overturn recent bylaw changes, introduce new directors, and install its own nominees on the board.