Binance, the world’s largest cryptocurrency exchange, has taken a significant step towards stabilizing its operations amidst escalating legal and regulatory challenges. Yi He, co-founder of Binance, has been appointed as Co-CEO, sharing leadership responsibilities with Richard Teng. This leadership reshuffle aims to reinforce Binance’s commitment to compliance, user satisfaction, and global transparency.
Strategic Leadership Amid Legal Troubles
Yi He’s appointment comes during a critical period for Binance. The exchange is confronting a $1 billion federal lawsuit alleging facilitation of terrorism financing, alongside the legal and reputational aftermath of founder Changpeng Zhao’s (CZ) criminal conviction and subsequent pardon. The move to bring Yi He into co-leadership reflects a strategic push to rebuild trust and enhance operational efficiency.
Yi He will oversee product development, retail operations, and user engagement, while Richard Teng focuses on legal, regulatory, and administrative matters. Her leadership style reflects a long-term vision aimed at refining Binance’s services for its 300 million users globally. As one of the firm’s foundational pillars, Yi He’s influence spans critical business areas, with a special focus on ensuring a seamless customer experience.
A Critical Moment for Binance
The legal challenges facing Binance are among the most severe in its history. The $1 billion lawsuit, filed by victims of the October 7, 2023 Hamas attack, accuses Binance of facilitating transactions connected to terrorist groups like Hamas and Hezbollah. Allegations range from weak compliance protocols to off-chain transactions and questionable account operations across regions like Venezuela and Brazil.
This follows a settlement in November 2023, where Binance paid $4.3 billion, and CZ personally paid $50 million in fines. Although Trump’s pardon of CZ in early 2025 sparked political backlash, Yi He has publicly asserted her independence and commitment to Binance’s future, distancing herself from CZ’s legal issues.
Yi He’s Credentials and Vision
Yi He entered the cryptocurrency world in 2013, starting her career at OKX in marketing and branding. Her pivotal role in recruiting CZ in 2014 paved the way for her position at Binance’s inception in 2017 as Chief Marketing Officer. Under her leadership, Binance grew into a leader not only in spot trading but also in futures and decentralized finance (DeFi) products. Her forward-thinking strategies continue to shape the company’s innovations today.
As an advocate for transparency, Yi He has addressed accusations head-on, pointing to US Treasury statements that show limited use of crypto by terrorist organizations. Despite the mounting legal scrutiny, Yi He remains resolute in her mission, emphasizing her long-standing contributions to Binance’s growth and her unwavering dedication to ensuring compliance in the cryptocurrency industry.
Leading the Future of Binance
With dual leadership now in place, Binance is poised to tackle its most daunting challenges yet—restoring public confidence while navigating legal storms. Yi He’s dynamic leadership style and commitment to innovation are expected to play a crucial role in determining the company’s trajectory in the years to come.
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