Binance has appointed its co-founder, Yi He, as co-CEO, introducing a dual leadership structure that places her alongside Richard Teng at a pivotal moment for the world’s largest cryptocurrency exchange by trading volume.
The company announced the move on Wednesday, adding a fresh layer of senior executive oversight as it attempts to stabilize operations, expand globally, and tighten compliance standards following a turbulent stretch in its corporate history.
Yi He has been with Binance for more than eight years and currently serves as Chief Customer Service Officer, according to her LinkedIn profile. Her elevation marks one of the most significant internal leadership shifts since the exchange’s creation. Binance described the move as part of a broader effort to scale its operations, build infrastructure that can withstand long-term regulatory pressures, and strengthen engagement with users across its sprawling international footprint.
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During his keynote speech at Binance Blockchain Week, Teng said Yi has played a central role inside the company from the very beginning.
“Yi has been an integral part of the executive leadership team since the launch of Binance,” he said, presenting her appointment as a continuation of the original founding partnership rather than a reshuffling driven by external pressure.
The dual leadership arrangement also signals a strategic balancing act. Teng, a former financial regulator who joined Binance after leading the Abu Dhabi Global Market’s Financial Services Regulatory Authority, has been the company’s public face since taking over as CEO in 2023.
His appointment followed the departure of founder Changpeng Zhao — widely known as CZ — who pleaded guilty to violating U.S. anti-money laundering laws. Zhao paid a $50 million fine and served nearly four months in prison last year, a moment that reshaped both Binance’s public image and its internal governance.
Zhao, a Canadian citizen who spent his early years in China before moving abroad at 12, founded Binance in 2017 with Yi He, a former host of a Chinese travel television programme. The two were in a romantic relationship and had children together, and their partnership helped guide Binance from a fast-growing start-up into a global force that dominates the crypto exchange landscape.
Since stepping down, Zhao has remained a figure of intense interest within the industry. Teng said in November that no decision had been taken on whether Zhao would return to the company following his pardon by U.S. President Donald Trump in October. The question of Zhao’s future role continues to hover over Binance, even as the exchange tries to project management stability and an operational reset.
The addition of Yi He as co-CEO reinforces an attempt to merge continuity with a more formal structure suited for a company under heavier regulatory scrutiny worldwide. Binance has spent the past year expanding its compliance divisions, adjusting regional strategies, and trying to keep user activity steady while navigating legal pressure in multiple jurisdictions.
The move places two of Binance’s longest-running insiders at the helm: one with deep operational knowledge and longstanding influence inside the company, the other with regulatory experience and a mandate to keep the company aligned with global financial standards. The arrangement gives Binance an experienced pair of hands at a time when it is trying to rebuild trust, grow in new markets, and reinforce its internal frameworks after a year shaped by courtroom drama and shifting political winds.
Yi He’s appointment also signals a renewed emphasis on organizational durability, user management, and strategic expansion — a combination Binance hopes will anchor it through the next phase of the company’s evolution.