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.