$500 Million BNB Holdings Trigger Tug-of-War for Control: Public Companies and Shareholders Face Off

[Chain News] A battle for corporate control centered on BNB asset allocation is unfolding.

CEA Industries, a Nasdaq-listed company holding over 510,000 BNB, recently issued a statement in response to external doubts—since completing its PIPE financing in July this year, the company has never wavered from its All in BNB strategy, nor has it secretly considered other token options. As of the 4th of this month, they have 515,554 BNB on their books, worth $464.6 million at current market prices.

This statement was highly combative, directly addressing a board restructuring proposal put forward by shareholder YZi Labs two days prior. YZi not only suggested expanding the number of board seats, but also sent a sternly worded rectification letter to another shareholder, 10X Capital, sharply criticizing certain “disruptive operations.”

CEA management clearly does not want to appear weak. They emphasized that the current board already meets Nasdaq’s requirements for independent director ratios, and that each member’s professional background is sufficient to steer company operations. The underlying message: don’t use governance issues as an excuse.

However, posturing aside, the necessary communication channels are still open. The company stated that the board has proactively reached out to YZi and is ready to sit down and discuss their differences. As for ordinary shareholders? The official advice is not to take sides for now—no action is needed at this time.

At its core, this dispute is really about how to manage that nearly $500 million BNB position.