BNC Board of Directors' "Poison Pill Plan" Sparks Shareholder Turmoil, CZ and Several Industry Insiders Involved

【Blockchain Rhythm】YZi Labs recently voiced their stance on social media, criticizing a series of actions by the BNC(CEA Industries) board of directors. As an important shareholder of BNC, YZi Labs is dissatisfied with the board’s “poison pill” plan and amendments to the bylaws in response to their written consent process.

According to YZi Labs, these actions by the board essentially obstruct shareholders from exercising their rights, not for the benefit of the company, but to maintain their own power. They also specifically criticized the BNC board for delaying the 2025 annual meeting originally scheduled for December 17.

More interestingly, YZi Labs refuted BNC’s claim that they have never considered an alternative token strategy. They stated that BNC CEO David Namdar explicitly mentioned during an internal meeting in November 2025 whether to switch to assets like Solana. The implication is clear — the board is playing a game of tai chi.

In terms of participants, this turmoil involves a significant lineup of figures. YZi Labs has submitted a preliminary consent statement to the SEC, planning to expand the board of directors and nominate their own candidates. The list includes Binance founder Zhao Changpeng(CZ), as well as industry figures like Max Baucus Sieben and David James Chapman. Currently, YZi Labs Management directly holds 2,150,481 shares of BNC common stock.

This governance dispute reflects the complexity of internal power balance within Web3 enterprises. The confrontation between shareholders and the board concerns how to truly protect investor interests and maintain decision-making transparency. The subsequent developments are worth watching.