YZi Labs stated that the reason for investing in BNC is based on the company's solid fundamentals, a highly attractive BNB-centric digital asset treasury strategy, and its potential to become an industry-defining digital asset treasury ("DAT") company. However, YZi Labs believes that since the completion of the $500 million PIPE financing this summer, despite the significant appreciation of the company's main treasury asset BNB, BNC's performance has deviated from the results that this investment logic should have brought.

"We believe that BNC's poor performance is a direct result of weak strategic execution, insufficient investor communication, and a lack of effective oversight," said Ella Zhang, head of YZi Labs. "We are seeking to expand the size of the board of directors and add experienced and capable directors, who we believe can provide stronger oversight, address issues such as poor company stock performance and operational gaps, and help unlock the value that should belong to shareholders. We look forward to introducing our nominated director candidates as soon as possible."

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