Binance CEO Changpeng Zhao’s investment firm, YZi Labs, is launching a hostile takeover attempt against CEA Industries. The move aims to overhaul the company’s leadership and improve its governance in an effort to address declining stock performance. YZi Labs claims that the current board has failed to effectively communicate with investors, complete important filings on time, and maintain investor relations. The firm intends to reverse recent bylaw changes, expand the board, install their own nominees, and implement a new leadership structure through a written consent process. This strategy aims to restore confidence and address investor concerns regarding the company’s performance.