On January 7, YZi Labs issued a statement on the X platform, expressing disappointment with the "poison pill" strategy and articles of association amendments adopted by the company's board of directors in response to YZi Labs' written consent solicitation process. YZi Labs believes these actions are designed to thwart and delay shareholders' ability to exercise their rights through written consent, aiming to consolidate the board's position rather than protect shareholder interests, and calls on the board to refrain from further manipulation.
YZi Labs points out that the BNC board has postponed its 2025 annual meeting, originally scheduled for December 17th, and calls on the board to avoid further manipulation and ensure a fair nomination and election process. Furthermore, YZi Labs refutes BNC's claim that it has never considered an alternative token strategy, stating that BNC CEO David Namdar explicitly stated at a November 2025 meeting that he had considered switching to assets such as Solana.
YZi Labs has submitted a preliminary consent statement to the SEC to expand the size of BNC's board of directors and elect its nominated board candidates. Those involved in this solicitation include YZi Labs Management, Binance founder Changpeng Zhao, Max Baucus Sieben, David James Chapman, Marie Teresa Goody Guillené, Jiajin He, Alex Odagiu, Matthew Roszak, and Ling Zhang. Currently, YZi Labs Management directly holds 2,150,481 BNC common shares.
