Binance Appoints Co-Founder Yi He as Co-CEO, Joining Richard Teng in Shared Leadership

, the world’s largest cryptocurrency platform, named Yi He as co-CEO on December 3. She will work alongside the existing CEO, Richard Teng, in a dual leadership approach.

During Teng’s keynote speech at Binance Blockchain Week in Dubai, the announcement was made. This is the most significant change in leadership since founder left two years ago later than a U.S. settlement that included $4.3 billion in fines. 

Teng it was a natural step forward and praised Yi He’s significant role since Binance begined in 2017. This structure combines Teng’s regulatory knowledge from his time at the Monetary Authority of Singapore and PricewaterhouseCoopers with Yi He’s skills in marketing, customer service, and product development. 

With close to 300 million users, Binance’s co-CEOs aim to reach 1 billion users by building Web3 infrastructure and community projects. User securety is the most significant thing, and the platform has stopped around $7 billion in scams this year alone, protecting about 9 million users.

Yi He’s Proven Track Record

assisted Zhao begin Binance and worked his way up from chief marketing officer to chief customer service officer over 8 years. Her work created a culture that put users first, leading more people to use the items in stores, even when the market was unstable. 

She has a master’s degree in psychology and used to host a TV show in China. She got into crypto in 2014 at , and despite the hardies of living in the country, she became one of the most powerful women in crypto.

Teng has been the CEO since November 2023 and has been in charge of activities outside the following Zhao’s plea over failings in anti-money laundering. Their relationship brings together diverse points of view: Teng on compliance and Yi on operations, which assists make decisions more open.

What The Future Holds For Strategy

Teng and Yi are aiming for responsible scaling, improved compliance, and development in a crypto world that is becoming more mature as more institutions adopt it. Teng is in charge of legal matters, while Yi overviews user operations and marketing. Yi said she was honoured to work with Teng, who has a history in regulation, and was sure he could lead sustainable innovation with users in mind.

This action makes governance more stable later than legal difficultys and puts Binance in a position to take over without mentioning Zhao’s 90% stake or barred executive role. As Week continues, industry experts are closely watching how the two companies’ partnership affects global growth.