YZi Labs — formerly known as Binance Labs — has publicly accused asset manager 10X Capital of failing to comply with U.S. securities disclosure requirements. The dispute centers on CEA Industries (Nasdaq: BNC), a firm that describes itself as managing the world’s largest corporate treasury of BNB.

According to YZi Labs, 10X Capital has owned more than 5% of CEA Industries’ shares since late 2025 but failed to file the required Schedule 13D disclosure with the U.S. Securities and Exchange Commission. The firm also alleges that 10X founder Hans Thomas, who sits on BNC’s board, did not submit mandatory filings disclosing his initial share ownership. YZi Labs investment partner Alex Odagiu called SEC rules “non-negotiable obligations,” escalating what appears to be a growing governance battle at the BNB-focused public company.