Binance has named its co-founder Yi He as co-CEO, signalling the start of a dual leadership era for the world’s largest cryptocurrency exchange since its launch in 2017.
Richard Teng, Binance co-CEO, made the announcement during his Binance Blockchain Week keynote speech on Wednesday, saying, “Yi has been an integral part of the executive leadership team since the launch of Binance.” He described her appointment as a natural progression and expressed confidence that Yi “will continue to guide the organisation from strength to strength.”
The company describes the appointment, which takes effect immediately, as a strategic step designed to strengthen global operations and accelerate product growth during a period of rapid regulatory and competitive change in the digital assets market, especially as the company nears a record 300 million global users.
Yi He will serve alongside co-CEO Richard Teng, who took over as chief executive in late 2023 after Changpeng Zhao stepped down. The company said the dual-CEO structure is intended to bring clearer operational oversight and to ensure that Binance can keep pace with evolving market conditions.
Commenting on the appointment, Yi He says, “I am honoured to build alongside Richard, who brings decades of experience in regulated financial markets.” She emphasised their complementary perspectives and shared vision. “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,” she adds.
She will oversee major commercial functions, including user growth, marketing, and several high-impact product lines. This represents an expansion of her longstanding role within the firm, where she has led branding, institutional outreach, and global expansion initiatives.
Yi He is one of the most influential figures in the crypto industry. She co-founded Binance with Zhao and has been instrumental in shaping the company’s global trajectory. Before Binance, she worked in media and technology roles and was an early advocate for blockchain adoption.
At Binance, she has often been seen as the architect behind its brand voice, user education strategy, and community-focused approach. The company credited her ability to anticipate market shifts and steer complex product roadmaps during periods of industry volatility.
Leadership Recalibration for a Maturing Binance
Binance framed the appointment as part of a broader push to professionalise its leadership model. The firm has faced growing scrutiny from regulators in the United States, Europe, and Asia, prompting efforts to strengthen compliance frameworks and become more transparent about governance. Yi He is expected to play a central role in these plans, particularly in areas related to user trust, product safety, and market integrity.
Richard Teng welcomed her appointment, noting that Binance had entered a new chapter that required deeper operational clarity and strong leadership alignment. Teng and Yi He have worked closely for years, and the company emphasised that the co-CEO structure would allow each leader to focus on specific pillars of the business while collaborating on strategic decisions.
The move comes as Binance continues to recover from a period of legal and regulatory setbacks. In 2023, the company reached a high-profile settlement with US authorities and agreed to significant compliance commitments. Since then, the firm has pushed to rebuild trust and present itself as a more mature, globally coordinated organisation. Leadership continuity has been a central part of that message. With Yi He stepping into a formal top-level role, Binance is positioning itself to show that its founding vision remains intact while adapting to new realities.
The appointment signals a shift towards a more diversified leadership model that mirrors structures used by global technology companies. It could also help Binance communicate more effectively with users, regulators, and partners as it expands into new markets and develops products outside its core exchange services.
Binance continues to hold the largest spot trading volume in the crypto sector, but the competitive landscape has tightened. Exchanges such as Coinbase, Bybit, OKX, and Bitget have gained market share, and regulatory requirements have raised barriers to growth. The company said Yi He’s appointment should strengthen its ability to innovate quickly and respond to regional market needs, while also maintaining the scale expected of a global financial platform.