YZi Labs, owned by Binance founder Changpeng Zhao, has launched a move to nominate its own candidates to the board of a BNB buyout company that was previously funded by YZi Labs. YZi Labs gave the reason that the company is currently suffering from "impaired shareholder value".
In a regulatory filing on Monday, YZi Labs said it wanted to remove all articles of association it had amended since July, expand the size of CEA's board and select "our qualified nominees to serve as directors".
YZi Labs told shareholders that the moves were "necessary to address the continuing erosion of shareholder value at BNC and to ensure that the company is operated in the best interests of all shareholders".
If shareholders holding a majority of the outstanding shares agree to the above proposal, YZi Labs, which previously claimed to be the family office of Zhao Changpeng, will effectively control the world's largest publicly listed BNB (BNB token) asset bank company.
CZ's YZi Labs plans to take over the stalled BNB treasury board
2025-12-02 02:59:54
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