Binance Bolsters Leadership with Yi He as Co-CEO Amid Regulatory Scrutiny

In the evolving landscape of cryptocurrency exchanges, where regulatory pressures continue to reshape operational strategies, Binance has announced a significant leadership shift. This move underscores a broader industry trend toward dual executive structures to enhance compliance and innovation, as major platforms grapple with heightened oversight from global authorities.

Binance’s Dual Leadership Model

Binance, the world’s largest cryptocurrency exchange by trading volume, has appointed co-founder Yi He as Co-CEO, partnering with current CEO Richard Teng. This structure aims to distribute responsibilities more effectively, with Teng overseeing legal, regulatory, and administrative functions, leveraging his background in regulated financial markets. Yi He, meanwhile, will focus on product development, retail operations, and user-centric initiatives, building on her prior role as chief customer service officer. The appointment highlights Binance’s emphasis on transparency and global compliance at a time when the crypto sector faces increasing demands for robust anti-money laundering (AML) measures. With over 300 million users worldwide, the exchange processes billions in daily transactions, making stable leadership critical for maintaining market trust.

Yi He’s Background and Strategic Influence

Yi He’s trajectory in the crypto industry reflects the sector’s rapid growth from niche trading platforms to mainstream financial services. Entering the space in 2013 at OKX (formerly OKCoin), she handled marketing and branding efforts. In 2014, she recruited Changpeng Zhao (CZ), who later founded Binance. By 2017, Yi He joined as Chief Marketing Officer and co-founder, playing a pivotal role in expanding offerings into spot trading, futures, and decentralized finance (DeFi) products.

• Key contributions include shaping Binance’s user-first culture and driving operational scalability.
• Under her influence, the platform grew from a startup to a dominant player, now serving users across more than 180 countries.
• Yi He has emphasized her professional independence, stating, “My achievements and capabilities as co-founder are often overlooked due to personal associations,” in reference to her past relationship with CZ.

Ongoing Legal Challenges and Market Implications

Binance’s leadership change occurs against a backdrop of persistent legal hurdles, which could impact investor confidence and trading volumes in the broader crypto market. The exchange faces a $1 billion civil lawsuit filed in North Dakota federal court by victims and families of the October 7, 2023, Hamas attack.

The suit names Binance, CZ, and executive Guangying “Heina” Chen as defendants, alleging the platform facilitated funding to terrorist groups including Hamas and Hezbollah through weak compliance controls, off-chain transactions, and operations in high-risk jurisdictions like Venezuela and Brazil.

• Plaintiffs cite internal communications showing awareness of suspicious funds, potentially setting precedents for exchange liability in illicit finance cases.
• The lawsuit follows a 2023 settlement where Binance paid $4.3 billion in penalties for AML violations, and CZ paid a $50 million fine before resigning as CEO.
• In early 2025, former President Trump pardoned CZ, overturning a four-month prison sentence related to the same issues; however, a U.S. Senate resolution in October 2025 condemned the decision.