BlockBeats News, February 10 — YZi Labs issued a letter to the board of CEA Industries stating that CEA Industries claims there is a “secret agreement” with YZi Labs, which is completely false. The contents of the agreement have been known to the board for a long time, and the law firm Winston & Strawn also provided advice. Board members Alexander Monie, Hans Thomas, and then-10X Capital CEO Namdar were involved throughout. The so-called “secret” is merely a misleading statement to the public.
CEA’s demand to terminate the Strategic Services Agreement (SSA) is also absurd. YZi Labs terminated the agreement on December 11, 2025, and notified the board in writing on December 13. The SSA did not generate any payments and does not affect the negotiations regarding the 10X asset management agreement.
The board attempts to conceal the facts under the guise of an “investigation,” covering up their inaction regarding known issues. YZi Labs urges the board to immediately clarify the misleading statements, fully disclose related transactions involving Hans Thomas, and genuinely protect shareholders’ interests.
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