YZi Labs ends proxy war with BNB treasury company CEA Industries

Finance YZi Labs ends proxy war with BNB treasury company CEA Industries Partner Alex Odagiu will serve as an interim president, pending a search for a new chief executive, while head of YZi Labs Ella Zhang and Matthew Roszak also appointed directors of CEA. By Jamie Crawley , AI Boost | Edited by Oliver Knight Jun 24, 2026, 10:47 a.m. 2 min read Make preferred on Share Share this article Copy link X icon X (Twitter) LinkedIn Facebook Email Make preferred on Ella Zhang, head of YZi Labs, at Consensus Hong Kong 2026 (CoinDesk) Summary Show YZi Labs is entered a cooperation agreement with BNB treasury company CEA Industries (BNC) following a campaign aimed at overhauling the firm's leadership and governance. Partner Alex Odagiu will serve as an interim president, pending a search for a new chief executive, with head of YZi Labs Ella Zhang and blockchain venture capitalist Matthew Roszak also appointed directors of CEA. YZi rejected suggestions that the settlement amounts to a takeover, a person close to the settlement told CoinDesk in an interview, describing it instead as a governance reset intended to unlock shareholder value. BNB treasury company CEA Industries (BNC) is undergoing a boardroom shakeup following a cooperation agreement with Binance-linked backer YZi Labs . The investment firm formerly known as Binance Labs backed CEA's transition into a BNB-focused digital asset treasury company in July 2025, investing roughly $100 million. However, disagreements over board oversight and execution led the firm to embark on what could be described as an activist activist shareholder campaign. The settlement would pave the way for a leadership transition at CEA. The current CEO is expected to step down, while YZi partner Alex Odagiu will serve as an interim president, pending a search for a new chief executive. Head of YZi Labs Ella Zhang and blockchain venture capitalist Matthew Roszak have also been appointed directors of CEA. The settlement was announced after the market close on Tuesday, with BNC closing 8.35% higher at $2.27 . Shares jumped nearly 20% more to $2.72 in pre-market trading on Wednesday, as of writing. YZi rejected suggestions that the settlement amounts to a takeover, a person close to the settlement told CoinDesk in an interview, describing it instead as a governance reset intended to unlock shareholder value. The firm also stressed that Binance founder Changpeng "CZ" Zhao was not involved in the initiative. The investment firm was rebranded from the venture arm of crypto exchange Binance in 2024. Following Zhao's release from prison that year, he took a more active role in venture project . YZI Labs is often referred to as Zhao's family office - the name for an investment vehicle that manages a family's wealth. YZi, however, says its structure is different, as it does not involve itself in estate planning, tax structuring and other similar functions. YZi's goal is to reposition CEA as a leading BNB treasury vehicle, comparable to Strategy's (MSTR) role in bitcoin markets. The firm argues that CEA's shares trade at a significant discount to the value of its underlying BNB holdings, a gap it believes can be narrowed through governance reforms and a clearer operating strategy. The move comes as digital asset treasury companies enter what some investors describe as a second phase of development. While early treasury firms focused primarily on accumulating crypto assets, newer models are increasingly looking to generate revenue from ecosystem participation and infrastructure businesses tied to those holdings. Digital Asset Treasury AI Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards . For more information, see CoinDesk's full AI Policy . 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