YZi Labs, the family office of Canadian billionaire Binance co-founder Changpeng Zhao, is asking fellow shareholders of Nasdaq-listed CEA Industries to expand the board and elect a slate of its chosen directors in an effort to revive the company’s stock, which has lost almost 90 per cent of its value since late July. (The Logic)

Talking point: YZi Labs participated in a US$500-million investment in CEA Industries—whose business was previously focused on selling equipment to marijuana growers and vapes to Canadians—in July. The idea was to turn CEA into an investment vehicle for BNB, a crypto asset that facilitates transactions on blockchains built by Binance. Since then, crypto prices have crashed, and evidence is mounting that the trend of public companies loading up their balance sheets with crypto is running out of steam. In a filing, YZi Labs said the board overhaul is necessary to “restore investors’ faith in the company” and “prevent the further destruction of shareholder value.”