温馨提示:本站仅提供公开网络链接索引服务,不存储、不篡改任何第三方内容,所有内容版权归原作者所有
AI智能索引来源:http://www.bee.com/id/61761.html
点击访问原文链接

BNB’s treasury leader faces severe criticism; “CZ’s confidant” may be ousted? | Bee Network

BNB’s treasury leader faces severe criticism; “CZ’s confidant” may be ousted? | Bee Network Login Berita Trending Meme Launchpad Agen AI DeSci Penjelajah Rantai Atas Untuk Newbee 100x Koin Permainan Lebah Situs Web Penting APLIKASI yang Harus Dimiliki Selebriti Kripto DePIN Pemula Penting Detektor Perangkap Alat Dasar Situs Web Tingkat Lanjut Pertukaran Alat NFT Hai, Keluar Alam Semesta Web3 permainan DApp Sarang lebah Platform Berkembang IKLAN Mencari Bahasa inggris Isi Ulang Koin Gabung Unduh Universitas Web3 permainan DApp Sarang lebah IKLAN rumah-Analisis-BNB’s treasury leader faces severe criticism; “CZ’s confidant” may be ousted? BNB’s treasury leader faces severe criticism; “CZ’s confidant” may be ousted?Analisis3 bulan yang lalu更新Wyatt 15,384 6 Author|Golem ( @web3_golem )

On November 28, YZi Labs (formerly Binance Labs) released a lengthy statement announcing the expansion of the board of directors of CEA Industries, the publicly traded BNB treasury company, and the election of several new directors. The statement expressed disappointment with CEA Industries, stating, “Investing in BNC was based on confidence in the company’s fundamentals and its BNB-centric digital asset treasury (DAT) strategy. However, since completing its $500 million PIPE funding round this summer, BNC’s stock performance has clearly deviated from this logic, even though BNB’s price has already seen considerable gains during this period.”

This indicates that the expansion of the board of directors is not a simple organizational adjustment, but rather a rescue effort. According to TradingView data, BNC’s stock price has been steadily declining since reaching a high of $68.76 on July 28th, currently trading at $5.97. This represents a 25.75% drop over the past six months, a decline of over 91% from its peak, and has erased all gains since the announcement of the BNB Treasury.

The former financial powerhouse has fallen to this state, causing significant losses not only for investors but also perhaps making YZi Labs regret the decision it made in the summer of 2025.

BNB, born with a silver spoon in its mouth, is a financial powerhouse. In the summer of 2025, the entire US stock market was restless and turbulent.

“The US stock market is willing to pay more than $2 for $1 of kripto assets,” Bloomberg columnist Matt Levine’s assessment aptly described the US stock market’s frenzy for DAT. According to CoinGecko, as of October 2025, there were 142 publicly listed DAT companies globally, 76 of which were founded in 2025; DAT companies invested a total of $42.7 billion in 2025, with more than half occurring in the third quarter.

As DAT became a buzzword in the capital markets, a crypto asset without a DAT company that treats it as a reserve asset felt as awkward as someone meticulously dressed up for a ball but left uninvited. Consequently, crypto companies began openly and covertly pushing to establish publicly traded DAT companies, packaging their tokens as reserve assets and listing them on the US stock market, telling a story that would attract capital. This included BNB.

In late July 2025, BNB-based publicly traded company CEA Industries (NASDAQ: BNC) made a dazzling debut, announcing the completion of a $500 million private placement led by YZi Labs and renaming itself “BNB Network Company” to officially implement the BNB reserve plan, with the goal of holding 1% of the total supply of BNB.

CEA Industries was the only BNB treasury company at the time to receive official funding from YZi Labs, and thus became a stock market star overnight, with its stock price rising from $8.8 to $68.76 in a single day, an increase of over 680%.

When the altcoin DAT was gaining popularity, CZ stated that “more than 30 listed companies want to establish BNB reserves, but I will support one or two of them.” So, what made CEA Industries the chosen one?

The secret lies with David Namdar, CEO of CEA Industries (now known as BNB Network Company).

David Namdar had a diverse professional background before founding BNB Network Company. He previously worked in traditional finance at UBS Hong Kong and Millennium Management. In 2014, he co-founded the crypto investment bank SolidX Partners. In 2017, he co-founded Galaxy Digital with Michael Novogratz, which successfully went public in Canada. After leaving Galaxy, he became an angel investor and advised several DAT (Digital Asset and Technology) companies.

These career experiences provided David Namdar with a wealth of knowledge for founding BNB Network Company. In a live stream on August 26, David Namdar also stated that he and CZ have known each other for eight or nine years and have a good personal relationship. Although they have never worked together, they often communicate in social settings.

With his extensive professional experience and the added advantage of being a “CZ confidant,” David Namdar naturally secured investment from YZi Labs and quickly rose to become the leading figure in BNB’s financial treasury.

But as both sides were envisioning a bright future, they did not realize that the moment of their alliance would be their last happy time together.

mNAV dropped to 0.68, and YZi Labs personally cleaned up the mess. Menurut to CEA Industries’ official financial dashboard, it currently holds 515,054 BNB, worth over $460 million, with an average cost of $851.29, still lower than the current price of BNB. However, CEA Industries’ mNAV is 0.68. mNAV is the ratio of a company’s market capitalization to the value of its cryptocurrency holdings. When mNAV

Although the DAT hype has subsided and the mNAV of many DAT-listed companies has fallen below 1 (related reading: The turning point of DAT? These 12 financial companies have mNav values that have fallen below 1 ) , the situation of CEA Industries cannot be simply attributed to the market.

According to DeFiLlama data, CEA Industries’ mNAV has been declining since announcing the BNB Treasury plan, with no upward trend whatsoever.

The decline in mNAV often occurs in conjunction with a decline in token prices—when the price of crypto tokens falls, mNAV will fall, which in turn weakens DAT’s fundraising ability, increases equity dilution, leads to a decline in stock price, and then enters a vicious cycle in which mNAV continues to fall.

The key point is that while BNB prices continued to rise from August to October, even reaching a new high of $1375.11, CEA Industries’ mNAV continued to decline during this period. However, due to the lack of data transparency at the time, no one knew the reason. (Odaily note: CEA Industries’ official financial dashboard was launched on November 19.)

Compared to other BNB treasury companies, CEA Industries’ exceptional nature becomes even more apparent.

Nano Labs is a publicly traded company implementing a BNB reserve strategy. According to DeFiLlama data, its BNB holdings are 128,000, less than a quarter of CEA Industries’ BNB reserves, but Nano Labs’ mNAV remained above 1.5 between August and October.

The mNAV anomaly caused the stock price to plummet, and even YZi Labs, once a close ally, finally had to step in to “clean up the mess.”

In its lengthy post, YZi Labs made no attempt to conceal the problems plaguing CEA Industries. Ella Zhang, head of YZi Labs, stated that BNC’s poor stock performance was primarily due to “weak strategic execution, insufficient investor communication, and inadequate board oversight.” YZi Labs also specifically named CEA Industries for issues such as delayed filing of key SEC documents, failure to update its digital asset treasury and NAV data in a timely manner, and a confused external identity and strategic narrative.

Since YZi Labs posted its article, CEA Industries’ official account and CEO David Namdar have not made any public statements. It is unclear whether this can be interpreted as “If you make a mistake, you have to admit it and accept the consequences.”

However, as the handpicked financial leader of BNB, CEA Industries is clearly not something YZi Labs wants to give up easily. In a lengthy article, it stated that it will soon announce the specific list of board candidates. Odaily will continue to follow up on whether David Namdar, a “CZ confidant,” will be ousted during the change of power.

Artikel ini bersumber dari internet: BNB’s treasury leader faces severe criticism; “CZ’s confidant” may be ousted?Recommended Articles

Related: Odaily interviews BOB Lianchuang Alexei: The value of trillion-dollar dormant assets will wake up Author|jk Bitcoin, the world’s largest crypto asset, has long lacked native DeFi infrastructure, leaving the trillions of dollars in Bitcoin assets largely dormant. With the development of Bitcoin’s second-layer technology, how to securely and efficiently build a DeFi ecosystem for Bitcoin has become a focus of industry attention. As a leading Bitcoin Layer 2 solution, BOB (Build on Bitcoin) is laying the foundation for the mass adoption of Bitcoin DeFi through its innovative hybrid rollup architecture and BitVM technology. In just over a year since its launch, BOB has achieved 540,000 unique users, $1.7 billion in trading volume, and $200 million in TVL. In this exclusive interview, we spoke with BOB co-founder Alexei about the current state of Bitcoin DeFi, its technical challenges, and how BOB is collaborating with institutions…

Analisis ## kriptoDefinisi #Pasar ## Tanda# web3© 版权声明Array 上一篇 Ten models broken down: How much should ETH really be worth? 下一篇 Ethereum will undergo these major changes in 3 days. 相关文章 YZi Labs’ first biotech investment: Renewal Bio Investment 6086cf14eb90bc67ca4fc62b 17,483 3 24H Hot Currencies and News | Trump Signs GENIUS Act; White House Plans to Release First Crypto Policy Report on July 22 6086cf14eb90bc67ca4fc62b 24,753 5 Weekly Editor’s Picks (October 25-31) 6086cf14eb90bc67ca4fc62b 16,263 Old Case Revisited: The 1011 Crash Sparks a Public Opinion Battle Between Exchanges and Ecosystems 6086cf14eb90bc67ca4fc62b 7,889 Pump.fun Launches PumpSwap, Can It Break the Solana Meme Deadlock? 6086cf14eb90bc67ca4fc62b 399,275 309 CoinW Research Institute Weekly Report (2025.1.13-2025.1.19) 6086cf14eb90bc67ca4fc62b 39,810 Tidak ada komentar Anda harus login untuk meninggalkan komentar! Segera masuk Tidak ada komentar... artikel Terbaru UniSat Releases Phase Updates and Upgrades, Continuously Building the Bitcoin Ecosystem 8 jam yang lalu 475 Jack Dorsey’s Company: 4,000 White-Collar Workers Are Being Replaced by AI 8 jam yang lalu 472 Latest Stablecoin Report: Real Distribution and Flow Are Far More Important Than Supply 8 jam yang lalu 384 Sui DeFi’s “Three-Engine” Revolution: How New Capabilities, New Assets, and New Programs Are Building the Future of On-Chain Finance? 8 jam yang lalu 341 On-chain Investigator ZachXBT Confirms: Axiom Employees Exploited Internal Privileges for Insider Trading 8 jam yang lalu 383 Situs Web PopulerTempoGAIBLighterGliderPlanckRaylsBCPokerVooi Bee.com Portal Web3 terbesar di dunia Mitra KoinCarp binance KoinMarketCap KoinGecko hidup koin Armor Unduh Aplikasi Bee Network dan mulai perjalanan web3 Kertas putih Peran Pertanyaan Umum © 2021-2026. Semua Hak Cipta Dilindungi Undang-Undang. Kebijakan pribadi | Ketentuan Layanan Unduh Aplikasi Jaringan Lebah dan memulai perjalanan web3 Portal Web3 terbesar di dunia Mitra CoinCarp Binance CoinMarketCap CoinGecko Coinlive Armors Kertas putih Peran Pertanyaan Umum © 2021-2026. Semua Hak Cipta Dilindungi Undang-Undang. Kebijakan pribadi | Ketentuan Layanan Mencari MencariDi dalam SitusDi RantaiSosialBerita 热门推荐: Pemburu Airdrop Analisis data Selebriti Kripto Detektor Perangkap Bahasa Indonesia English 繁體中文 简体中文 日本語 Tiếng Việt العربية 한국어 हिन्दी اردو Русский Bahasa Indonesia

智能索引记录