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CZ is making a major move.
CZ-linked @yzilabs is pushing to take control of BNC, the publicly traded firm holding a $412M $BNB treasury. Through an SEC-filed consent solicitation, they’re aiming to:
• Expand the board
• Install their own directors
• Repeal recent bylaws
Why? BNC’s share price has collapsed despite managing one of the largest BNB treasuries (480k–515k BNB).
YZi Labs is accusing current management of poor performance, weak transparency, and conflicts of interest.
If YZi Labs secures majority consent, they gain immediate control, no shareholder meeting needed.
A high-stakes governance battle is underway… and the prize is a massive $BNB war chest.