According to BlockBeats, citing BIT(bit.com) data, BNC (CEA Industries) had a pre-market market cap of approximately $240 million on September 8, 2026, with its shares up 70% to $5.90. The company disclosed holding 515,500 BNB valued at $390 million as of April 30, 2026, significantly exceeding its market cap. Separately, YZi Labs and asset manager 10X Capital resolved a proxy fight that began in December 2025. The settlement, reached on June 23-24, 2026, introduced three new directors and appointed YZi partner Alex Odagiu as interim president, with YZi withdrawing its consent solicitation. The dispute arose from YZi's accusations of strategic deviation, poor governance, and conflicts of interest. For observers, the outcome was a reconciliation.
Market Cap and Holdings
BlockBeats, citing BIT(bit.com) market data, said that on September 8, 2026, pre-market shares of BNC (CEA Industries) — a U.S.-listed BNB treasury company — jumped 70% to $5.90, putting its market capitalization at about $240 million. But as of April 30, 2026, BNC had disclosed holdings of 515,500 BNB, worth roughly $390 million. So the company’s asset value sits far above its market cap, leaving a $150 million gap.
Proxy Fight and Settlement
From December 2025 through June 2026, YZi Labs was in a fight with BNC’s asset manager, 10X Capital, and with the board. YZi said the other side had strayed from the BNB strategy, showed weak governance, and had conflicts of interest. It then launched a consent solicitation. Short version: many saw that as a bid to seize control of BNC’s board.
On June 23–24, 2026, the two sides signed a cooperation agreement, formally bringing the proxy fight to an end. The agreement added three new directors, and YZi partner Alex Odagiu was named interim president. After that, YZi pulled its consent solicitation. The dispute ended in a settlement.
For more, see the report "Short Squeeze Narrative on BNB Chain: The Logic Behind the Surging 4Stock."
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