CZ’s YZi Labs Targets CEA Industries, Aims for Board Control in Binance Treasury Firm

YZi Labs, a firm backed by Changpeng Zhao (CZ), has initiated a move to acquire control of CEA Industries, a publicly traded company focused on Binance treasury management. The firm alleges that the current board has failed to meet investor expectations, leading to significant delays and a widening gap between the stock price and its crypto holdings. YZi Labs seeks to replace the board through a written consent process, aiming for swift restructuring to resolve these concerns.