CEA Industries, a Nasdaq-listed company (ticker: BNC), has reached a settlement with YZi Labs, the family office of Binance co-founder Changpeng Zhao, ending a proxy battle that had drawn industry attention. The agreement was signed on June 23, according to Techub News.
Under the terms, three individuals affiliated with YZi Labs — Ella Zhang, Alex Odagiu, and Matthew Roszak — will join CEA Industries' board of directors. Odagiu will additionally serve as interim president to oversee the company's transition. The board reshuffle marks the formal adoption of a BNB-focused treasury strategy, signaling a major strategic pivot for the firm.
CEA Industries was originally a controlled environment agriculture company specializing in indoor farming facilities. In August 2024, YZi Labs led a $500 million PIPE (private investment in public equity) financing round, providing the capital that set the stage for the company's transformation into a public-company treasury vehicle centered on BNB. YZi Labs manages over $10 billion in assets across Web3, artificial intelligence, and biotechnology sectors.
A CEO search committee has been established, and the company is actively seeking independent directors with blockchain experience to strengthen its crypto strategy. The 2026 annual general meeting of shareholders is scheduled for July 22, at which the board adjustments and other matters will be formally considered.