CEA Industries · 53

YZi Labs and CEA Industries reach a cooperation agreement to end agency dispute

In comparison, BNB treasury company CEA Industries announced that it has signed a cooperation agreement with YZi Labs, and the two sides will jointly advance the adjustment of the BNC governance structure. Under the agreement, Ella Zhang, Alex Odagiu, and Matthew Roszak were appointed as company directors, and the two parties will also jointly select an independent director with experience in digital assets, capital markets, and public company governance. Meanwhile, the Board of Directors will establish a CEO Selection Committee, and YZi Labs partner Alex Odagiu will serve as interim president until a new CEO is determined. As part of the agreement, YZi Labs will terminate previous consent requests and withdraw related requests. CEA Industries said the move will help strengthen corporate governance and enhance its ability to carry out long-term strategy execution around the BNB ecosystem.

59d ago

YZi Labs and CEA Industries reach an agreement to end governance differences and advance management adjustments

In comparison, YZi Labs Management, the management entity of YZi Labs, announced that it has reached an agreement with CEA Industries (BNC), a NASDAQ listed company, to promote further optimization around digital asset strategy and corporate management. It is reported that BNC and YZi Labs will jointly seek an independent director with experience in digital assets, capital markets, and governance of listed companies to further improve the board structure. David Namdar, who previously served as CEO, will continue to perform his current position during the transition period. YZi Labs has agreed to terminate the previously initiated shareholder consent collection action and withdraw the relevant account record review request and shareholder register date request. This agreement means that the two sides will end their previous potential governance differences and switch to jointly promote the company's development through board restructuring and management optimization.

59d ago

Has CZ been cut too? The inside story of the bloody battle for control of the BNB treasury comes to light

Author: web3_golem Original title: Has CZ been cut too? The trend of BNB treasury CEA Industries controlling the money industry is coming and going fast. DAT made huge waves in 2025, and a large number of speculators teamed up with shell US stock listed companies to create a false boom where “crypto assets invade US stocks.” By the time FOMO investors came back to their senses, the accounts had already been ransacked. If you're one of them, the next piece of news might help you balance your mind a little: even CZ is in the hands of the same group of people. At the time, there were more than 30 listed companies in the market scrambling to lay out the BNB treasury, and CZ said they needed to be “carefully selected.” He ultimately chose CEA Industries, founded by Galaxy Digital co-founder David Namdar. In July 2025, CEA Industries (NASDAQ: BNC) completed a $500 million private placement led by YZi Labs and officially implemented the BNB Reserve Program. CZ chose David Namdar for seemingly impeccable reasons — a brilliant career, strong personal relationships, and a person he classified as a “trustworthy circle.” Unfortunately, CZ's investment vision has always been “hard to put into words,” and this time, he looked away again. In November 2025, the conflict between YZi Labs and CEA Industries completely broke out. YZi Labs blamed issues such as continued falling BNC shares and board inaction, and also called for the election of new directors. At the time, the Daily Planet Daily analyzed that YZi Labs would probably take over BNC, David Namdar was swept out of the house, and the matter came to an end. No one expected that the real drama had just begun. The person who cut off CZ ran away on March 24. YZi Labs issued an article denouncing CEA Industries paying nearly $1.98 million in termination compensation to the outgoing CEO to help him implement it safely, and requested the board of directors to publicly explain the rationality of the separation compensation. At the same time, YZi Labs complained that CEA Industries' board of directors has sent millions of dollars to relevant stakeholders, and has paid a total of $3.8 million to 10X Capital since June 7, 2025; and that previously the company's CEO and CFO positions were held by the same person (Odaily note: CEA Industries hired a new CFO on March 9), and that the company lacked sufficient knowledge in key areas such as revenue, taxation, and equity compensation Verification control. YZi Labs investment partner Alex Odagiu finally revealed a fact that should have been discovered a year ago — “CEA Industries' board of directors has used a NASDAQ listed company as a personal cash machine.” Who is this leaving CEO? Who is 10X Capital? The CEO is also David Namdar. Yes, he wasn't kicked out by YZi Labs in November of last year; instead, he has now vacated CEA Industries before leaving his job leisurely. He is also the CEO of 10X Capital, the asset manager of CEA Industries and the biggest driver that turned CEA Industries into a BNB treasury company last year. According to CEA Industries' Form 8-k submission to the SEC on March 16, David Namdar has not received cash or equity compensation since being CEO of the company on August 5, 2025 until signing the transition agreement on March 16, 2026, so he has now been reissued; there seems to be no legal problem; David Namdar successfully completed the exhumation of the Golden Cicada. On March 25, the top of CEA Industries' official X account was changed to looking for a new CEO. According to foreign media sources, in early March of this year, a BNC investor visited CEA Industries' corporate office in Nevada, USA and discovered that CEA Industrie...

145d agoburnking#CZ #DAT #SEC #Binance #Binance Coin #invests

CZ cut? The battle for shares in the BNB treasury

150d agoburnking#CZ #DAT #SEC #Binance #Binance Coin #invests

YZi Labs alleges systemic governance failures in CEA Industries

Comparatively, YZi Labs accuses CEA Industries of systemic governance failure, denouncing the payment of nearly $1.98 million in termination compensation to the outgoing CEO, YZi Labs issued a statement in response to Form 10-Q and Form 8-K submitted by CEA Industries (NASDAQ: BNC) on March 16, 2026. The statement pointed out that BNC's SEC documents revealed major flaws in the internal control of financial reporting. Previously, the CEO had the same positions as chief financial and accounting officer, and that the company lacked sufficient inspection and control in key areas such as revenue, taxation, and equity compensation. YZi Labs estimates that the total value of the transition agreement for outgoing CEO David Namdar is approximately $1.98 million, including $375,000 in retroactive reissue consulting fees, approximately $276,000 in future monthly consulting fees, approximately $434,300 in cash to replace equity plan payments without shareholder approval, and $900,000 in one-time termination payments linked to restrictive terms. YZi Labs believes that the restrictive clauses contained in the agreement prohibit Namdar from assisting shareholders to make any claims or take actions affecting management, and is essentially a control management tool. The statement also stated that BNC paid $2 million to asset management entities controlled by incumbent director Hans Thomas during the quarter, with a cumulative total of $3.8 million since June 7, 2025. Additionally, there is an issue with 17648 share warrant exercise data in the 10-Q form that cannot be reconciled. Alex Odagiu, investment partner at YZi Labs, said the board sent millions of dollars to related parties without holding an annual shareholders' meeting or obtaining shareholders' approval. YZi Labs requested the board of directors to publicly explain the rationality of separation compensation, publish a plan to rectify major defects, and disclose the full scope of application of the restrictive provisions in the transition agreement.

151d ago

yZi Labs asks CEA Industries to respond to operating vacuum and terminate 10X Capital asset management agreement

Comparatively, YZi Labs issued a statement. According to the lawsuit filed by investor Abraham Gomez against the US listed BNB treasury company CEA Industries (BNC) and its director Hans Thomas, the company is almost in an operating vacuum. There is no CFO, COO, operation or marketing team, no fund management system, or even a registered domain name or a working website. YZi Labs pointed out that this situation highlights the failure of CEA Industries' board of directors supervision and the signing of a 20-year asset management agreement with 10X Capital Asset Management to manage huge sums of money without establishing basic corporate governance and operational infrastructure. Therefore, it requires the board to publicly respond to the allegations, establish an independent committee to investigate Hans Thomas, and terminate the relationship with 10X Capital Asset Management Signed agreements.

164d ago

YZi Labs questioned 10X Capital's undisclosed shareholding of more than 5% in CEA Industries and requested the submission of SEC documents

Comparatively, YZi Labs issued a statement saying that the company's latest documents show that 10X Capital Asset Management LLC and its affiliates may have held more than 5% of the company's issued common shares by the end of 2025, but they have not yet submitted Schedule 13D disclosure documents required by the US Securities Regulatory Commission (SEC). YZi Labs pointed out that according to the company's publicly disclosed warrant exercise data, about 2.376 million warrants have been exercised, and the corresponding share ratio accounts for about 5.39% of the company's issued shares. YZi Labs stated that it itself has not exercised the relevant warrants, so it is presumed that this portion of the shares mainly comes from 10X related entities. The statement also said that 10X and company director Hans Thomas have not publicly explained the shareholding ratio, nor have they submitted relevant shareholding disclosure documents in accordance with regulations. YZi Labs called on interested parties to clarify the shareholding situation as soon as possible and disclose whether there are “associated shareholding groups” subject to disclosure under section 13 (d) (3) of the Securities and Exchange Act.

175d ago

Asset management agreement revision storm escalates: YZi Labs asks BNC to withdraw false accusations and discredit the so-called “secret subsidiary agreement”

Comparatively speaking, YZi Labs issued a statement regarding the CEA Industries (BNC) board's intention to amend the asset management agreement signed with 10X Capital Asset Management LLC, strongly denying that it blocked the revision of the agreement and accusing the BNC board of “misrepresenting facts and misleading shareholders.” Alex Odagiu, investment partner at YZi Labs, said the board acknowledged that asset management agreements needed to “reduce management fees, shorten terms, and optimize termination clauses,” but tried to blame YZi Labs and the so-called “Secret Side Agreement” (Secret Side Agreement) for the delay in revising the agreement as blatantly fabricated. YZi Labs requested that the BNC board of directors immediately publicly withdraw the false accusations relating to the “secret subsidiary agreement” and “yZi Labs obstructing the revision of the agreement”, ensure that directors associated with 10X avoid relevant discussions and decisions and fully disclose the proposed revisions and the final agreement text to all shareholders before signing, while reserving the right to take further legal action against current board members and stated that the board will continue to be held responsible for disclosing information. (Globalnewswire)

179d ago

YZi Labs submits revised preliminary consent request to US SEC to promote CEA Industries' board expansion

According to official news, YZi Labs announced that it has submitted a revised preliminary consent request to the US Securities and Exchange Commission (SEC). The document is currently under review. The purpose of this request is to expand the size of the company's board of directors and elect nominated director candidates to the board of directors through written consent from CEA Industries' shareholders.

187d ago

Yzi Labs investment partner accuses CEA Industries of maliciously delaying shareholders' meetings and jeopardizing listing status

In comparison, Alex Odagiu, an investment partner of Yzi Labs, recently sent a letter to the CEA Industries board of directors accusing it of being extremely reckless in postponing the Annual General Meeting of Shareholders (AGM), which could cause the company to face the risk of Nasdaq delisting. The letter stated that it has been more than 400 days since the last general meeting of shareholders (December 17, 2024). By changing the fiscal year settlement date to April 30 as an “accounting method,” the board attempted to use a rule loophole to extend the interval between meetings to 16 months. Alex Odagiu said the board's move was to evade voting and used the “ski vacation” excuse last December to cover up its actions to hinder shareholder democracy through the “Poison Pill Plan” and amend the statute. The letter emphasized that despite the board's attempt to comply on a technical level, its malicious manipulation could trigger Nasdaq's discretion to withdraw. Yzi Labs requested the board of directors to immediately announce the date of the 2025 Annual General Meeting of Shareholders and stop harming the company's listing status in order to preserve positions.

190d ago