YZiLabs Launches Activist Campaign to Seize Control of BNB Network
YZiLabs has initiated a bold MOVE to take control of BNB Network through a written-consent process, aiming to overhaul governance and install new directors. The activist firm criticizes BNB Network's slow rollout, weak communication, and strategic missteps, despite a recent capital raise.
The campaign targets a board reshuffle and challenges 10X Capital's influence, framing the effort as a necessary reset for the company's direction. By leveraging written consent, YZiLabs seeks to bypass formal meetings and secure majority support from shareholders.
BNB Network's transition to a BNB-focused treasury platform has been marred by execution issues, according to YZiLabs. The firm's aggressive stance sets the stage for a high-stakes corporate battle, months after backing the company's financing round.
