The Request Letter is a required step in YZi Labs’ consent solicitation process to add up to seven directors to the Board. Because the current Board has only six Directors, this would effectively transfer control of the Board to YZi Labs. YZi Labs’ Request Letter asks the Board to set a date that determines which stockholders are eligible to vote on YZi Labs’ proposals, including election of its director nominees. The Company issued the following statement regarding the Request Letter:For months, YZi Labs has claimed that it desires greater “independent” Board oversight. However, six of YZi Labs’ seven proposed director nominees are or have been employees of, investors in or advisors to Changpeng Zhao (CZ) and/or his affiliates, YZi Labs and Binance.

Source: New York Times March 13, 2026 21:38 UTC