Binance, the world’s largest cryptocurrency exchange, has officially appointed co-founder Yi He as its new Co-CEO, a move many insiders describe as long overdue. The leadership change places her alongside Richard Teng, who became CEO in 2023 after Changpeng Zhao, widely known as CZ, stepped down following a U.S. regulatory settlement.
Yi’s appointment marks one of the biggest structural shifts at Binance since its founding in 2017. It comes as the company nears 300 million global users and accelerates its push toward Web3 infrastructure and mainstream crypto adoption.
Speaking at Binance Blockchain Week in Dubai, CZ said Yi He’s elevation simply formalizes the work she has done since Binance began.
“She has very complementary skills to Richard. He comes from a strong regulatory background and is fluent in English. Yi He’s English is improving but she always communicates effectively. She’s fast, strategic, and extremely connected to the community,” CZ said.
He described her as deeply involved in product decisions, community engagement, and long-term strategy. She often operated behind the scenes but drove key growth moments.
“Most Asian users know her well. Western users are now learning who she is, and the feedback has been great. Her appointment is very natural,” he added.
The new co-CEO structure draws a clear balance:
- Richard Teng brings decades of regulatory and financial experience, including previous roles at Singapore’s central bank.
- Yi He brings product vision, community insight, user understanding, and a focus on innovation and customer-centric thinking.
Teng, speaking to CNBC, said Yi He has been instrumental in shaping the company from day one.
“She has been driving growth, driving change, and helping Binance scale. This appointment recognises that contribution openly,” he said.
He also emphasized that the company is preparing to onboard the next billion users, positioning Binance for exponential growth.
Despite her central role in Binance’s success, Yi He has kept a low public profile. Many details of her work emerged only through regulatory filings, media reports, and internal acknowledgments.
Key details about her background include:
- She previously worked at cryptocurrency exchange OKCoin.
- She met CZ at a blockchain event in 2014.
- She was a well-known television host in China before entering the crypto industry.
- She has been involved in overseeing Binance’s marketing and venture investment divisions.
- She shares three children with CZ and has been his long-standing business partner.
Her loyalty to Binance and CZ has been documented across multiple events, including her 2024 letter to the court, where she described herself as his “life partner” and defended his character.
The leadership shift comes shortly after U.S. President Donald Trump pardoned CZ, who had pleaded guilty to money-laundering violations. With several high-profile crypto cases dropped or reconsidered, Binance is entering a renewed phase of stability.
Yi He’s formal appointment signals:
- Continuity in the company’s founding vision
- Fresh product leadership
- Sharper focus on community engagement
- Clearer division of responsibilities within executive leadership
Binance noted in its official statement that Yi He has “played a fundamental role in shaping Binance’s vision and culture,” describing her as a key architect of its user-first philosophy.
In her first statement as Co-CEO, Yi He highlighted the importance of teamwork and aligned strategy.
“Richard and I bring diverse perspectives but share the same vision for Binance’s future. We will lead responsibly, expand globally, and drive sustainable innovation with users always at the center,” she said.
As the crypto industry moves into a new regulatory and technological phase, Binance is positioning itself with a leadership model that blends compliance, innovation, and community understanding.
With Yi He officially stepping into a public leadership role, Binance appears ready for its next chapter. The company aims to balance its legacy with the demands of a rapidly evolving global crypto landscape.
