YZi Labs, the family office of Canadian billionaire Binance co-founder Changpeng Zhao, said in a release that it is “disappointed” in Nasdaq-listed CEA Industries’ decision last month to let shareholders dilute the stake of an investor that acquires more than 15 per cent of the company. YZi Labs is leading a push to replace the company’s board with its own nominees and CEA has said it implemented the poison pill to prevent a hostile takeover. (The Logic)

Talking point: The release is the latest salvo in YZi Labs’ attempt to shake up CEA Industries, whose business was focused on selling equipment to marijuana growers and vapes to Canadians until the family office participated in a US$500-million investment round in the firm 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. YZi said shareholders feel “betrayed” by CEA’s alleged shift in focus away from BNB—which the company denies—and called on it to quickly schedule its annual general meeting so investors can put its proposed slate of directors to a vote.