Binance Names Co-Founder Yi He as Co-CEO in New Dual Leadership Structure

TLDR

• Binance has appointed Yi He as co-CEO, joining Richard Teng to lead the company together.
• Yi He moves up from her role as Chief Customer Service Officer after years of shaping Binance’s growth strategy.
• Richard Teng announced Yi He’s appointment during Binance Blockchain Week in Dubai on Wednesday.
• Former CEO Changpeng Zhao supported the move, calling Yi He the ideal CEO since day one.
• Binance is nearing 300 million global users, reflecting the platform’s continued expansion under new leadership.

Binance has named co-founder Yi He as co-CEO, placing her alongside Richard Teng in a dual leadership structure. Yi He previously served as Chief Customer Service Officer and played a central role in Binance since its founding.

Yi He Steps into Binance Leadership Role

Yi He now shares CEO duties with Richard Teng after seven years in an executive position at Binance. She has helped shape the company’s customer-focused strategies and long-term business plans. Yi joined Binance in 2017 and has remained active in company decisions.

Teng confirmed her appointment during Binance Blockchain Week held on Wednesday in Dubai. He praised Yi’s leadership and commitment to the company’s development. “This appointment is a natural progression,” Teng said in his public remarks.

Yi acknowledged Teng’s experience in financial regulation and expressed excitement about their partnership. “Together, we bring diverse perspectives,” she stated. She emphasized a shared commitment to user-centered growth and responsible global expansion.

Teng and Yi to Lead Together

Richard Teng will continue in his role, which he assumed after Changpeng Zhao stepped down in November 2023. Teng’s leadership began following U.S. enforcement measures affecting Binance’s earlier leadership. His background includes decades of work in global financial regulation.

Teng highlighted Yi’s impact on the company since its early days. He credited her with building Binance’s customer operations and shaping company culture. “Her innovative and user-focused approach has been instrumental,” Teng added.

Yi expressed her full support for Binance’s future direction under their shared leadership. She pointed to their complementary skills and vision for the company. “We are confident in leading the future of the industry,” she said during the announcement. Their joint leadership comes as Binance focuses on compliance and market growth.

Support from Changpeng Zhao and Future Outlook

Changpeng Zhao reacted to Yi He’s promotion on social platform X. “She should have been the Binance CEO from day 1,” he wrote. He welcomed the leadership duo and expressed support for their combined strengths.

Zhao and Yi have worked together since their time at OKCoin. Their professional relationship evolved into a personal partnership as well. Yi previously described Zhao as a “comrade-in-arms” and close ally.

In October, speculation grew about a potential return of Zhao to Binance’s executive team. These rumors followed reports of U.S. pardon, however, no official update has been released regarding his future role. Binance now approaches a new chapter as it nears 300 million global users. Teng shared this figure during the Dubai event.

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