Binance Names Co-Founder Yi He as New Co-CEO
- Binance, the world's largest cryptocurrency exchange, announced on august 13, 2025, the appointment of Yi He, a co-founder and longtime executive, as co-CEO.
- The appointment of Yi He as co-CEO marks a significant moment for Binance.
- Yi He's statement following the announcement emphasized her collaboration with Teng: "I am honored to build alongside Richard, who brings decades of experience in regulated financial markets and...
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Yi He Named Co-CEO of Binance, Signaling Shift in Leadership
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Binance, the world’s largest cryptocurrency exchange, announced on august 13, 2025, the appointment of Yi He, a co-founder and longtime executive, as co-CEO. She will lead the company alongside Richard Teng, who assumed the CEO role in November 2023 following the resignation of Changpeng Zhao.
The Leadership Change
The appointment of Yi He as co-CEO marks a significant moment for Binance. Richard Teng became CEO in november 2023 after Changpeng Zhao (“CZ”) resigned amid a U.S. Department of Justice criminal investigation. Zhao pleaded guilty to violating U.S. anti-money laundering laws and stepped down as part of a settlement with the government.
Yi He’s statement following the announcement emphasized her collaboration with Teng: “I am honored to build alongside Richard, who brings decades of experience in regulated financial markets and was among the first to regulate crypto in its early days.” Fortune reported on the announcement.
Yi He’s Background and Role at Binance
Yi He is a veteran of the cryptocurrency industry, with deep roots in the Asian crypto market. Before Binance,she worked at OKX (formerly okcoin) in 2014,where she notably recruited Changpeng Zhao as the company’s Chief Technology Officer. When Zhao founded Binance in 2017, he, in turn, brought Yi he on board, playing a crucial role in building the exchange into the global powerhouse it is indeed today.
While binance has not publicly detailed the specific division of responsibilities between He and Teng, industry analysts suggest He’s expertise lies in market strategy and product development, while Teng’s background in regulatory compliance will be vital as Binance navigates increasing global scrutiny.
Binance’s Regulatory Challenges
Binance has faced significant regulatory headwinds in recent years.The U.S. Department of Justice investigation that led to CZ’s resignation focused on alleged violations of anti-money laundering (AML) and sanctions regulations.The exchange also faced scrutiny from the Securities and Exchange commission (SEC) regarding the sale of unregistered securities.
these challenges have prompted Binance to invest heavily in compliance and strengthen its relationships with regulators worldwide. Richard Teng’s appointment was widely seen as a move to address these concerns, given his prior experience as CEO of the Abu Dhabi Global Market (ADGM) exchange.