YZi Labs alleges that CEA Industries' board of directors misled shareholders regarding strategic services agreements.

According to TechFlow TechFlow, on February 10th, YZi Labs disclosed that it had sent an open letter to the board of directors of CEA Industries, accusing them of publishing false information in a press release on February 4th. The letter claims that the board incorrectly described the agreement with YZi Labs as a "secret agreement," when in fact board members and legal counsel Winston & Strawn were aware of it. Furthermore, YZi Labs stated that the Strategic Services Agreement (SSA) was terminated on December 11, 2025, and notified the board in writing on December 13th, questioning why the board would still request the termination of a non-existent contract two months later. The open letter also points out that 10X Capital never paid any fees to YZi Labs, and that Hans Thomas used this terminated agreement as a pretext to protect 10X's Asset Management Agreement (AMA) fee stream, harming the interests of CEA shareholders.

Previously, YZi Labs accused 10X Capital, the asset manager of BNB's treasury company CEA Industries, of "mismanagement and threatening to abandon the BNB strategy."