Yi He Appointed Co-CEO of Binance: A New Era for the Crypto Exchange Giant

Yi He Takes the Helm as Co-CEO of Binance Amid Leadership Transition

In a significant leadership shift at Binance, Yi He, a key figure in the cryptocurrency exchange’s rise to prominence, has been appointed as the new co-CEO. This announcement was made during Binance Blockchain Week in Dubai, where Richard Teng, who will serve alongside He, highlighted her integral role in the company’s journey since its inception.

Yi, who previously held the position of Chief Customer Service Officer, has often operated behind the scenes, focusing on strategic planning and business expansion. Unlike her co-founder, Changpeng Zhao—affectionately known as “CZ”—who frequently engages with the public, Yi’s influence has been felt more through her innovative and user-centric approach.

“Yi has been an integral part of the executive leadership team since the launch of Binance,” Teng stated. “Her innovative and user-focused approach has been instrumental in shaping the company’s vision, culture, and bottom-up business strategy. This appointment is a natural progression, and she will continue to guide the organization from strength to strength.”

Born in 1988 in China, Yi joined Binance just before its launch in 2017. Her strategic insights have been pivotal in transforming Binance into the world’s largest crypto exchange, complementing CZ’s dynamic leadership style.

“I am honored to build alongside Richard, who brings decades of experience in regulated financial markets and was among the first to regulate crypto in its early days,” Yi said. “Together, we bring diverse perspectives and are confident in leading the future of the industry during this pivotal time, as we responsibly expand our global presence and drive sustainable innovation with our users always at the center.”

CZ took to social media platform X to express his support for Yi’s new role, stating, “[Yi He] should have been the Binance CEO from day 1. Great journey ahead with two strong leaders (with complementary skills) leading Binance.”

The leadership change comes amid speculation surrounding CZ’s potential return to a more prominent role at Binance. Following a high-profile legal battle, Zhao pleaded guilty to violating U.S. money laundering laws in 2023 and completed a four-month prison sentence in September 2024. However, no official announcement has been made regarding his future involvement with the company.

As Yi He steps into her new role, the cryptocurrency community watches closely, eager to see how her leadership will shape the future of Binance and the broader crypto landscape.