Binance has promoted its co-founder, Yi He, to co-CEO, joining Richard Teng at the helm in a dual leadership structure. The move comes at a critical time for the world’s largest cryptocurrency exchange by trading volume, as it navigates regulatory scrutiny, operational challenges, and a global expansion push.
A Strategic Leadership Shift
The announcement, made on Wednesday, introduces additional senior oversight as Binance seeks stability after a turbulent year. Yi He, who has been with Binance for over eight years and previously served as Chief Customer Service Officer, now shares top leadership responsibilities. The company described the appointment as a step toward scaling operations, reinforcing infrastructure, and improving user engagement worldwide.
During Binance Blockchain Week, Teng highlighted Yi’s foundational role within the company. “Yi has been an integral part of the executive leadership team since the launch of Binance,” he said, framing her promotion as a continuation of the original founding partnership rather than a reaction to external pressures.
Balancing Experience and Regulation
The co-CEO structure blends two complementary strengths. Teng, a former financial regulator with experience at Abu Dhabi Global Market’s Financial Services Regulatory Authority, has served as Binance’s public face since becoming CEO in 2023. Yi brings deep operational knowledge and institutional memory, ensuring continuity within the company during a period of regulatory and market challenges.
This leadership change follows the high-profile departure of founder Changpeng Zhao (CZ), who pleaded guilty to violating U.S. anti-money laundering laws last year. Zhao paid a $50 million fine and served nearly four months in prison, events that reshaped Binance’s internal governance and public image. Although Zhao has been pardoned by U.S. President Donald Trump, his future role at Binance remains uncertain.
Founding Roots and Company Growth
Yi He and Zhao co-founded Binance in 2017. The duo, who were also partners in their personal lives, guided the company from a fast-growing start-up into a global crypto powerhouse. Yi, a former Chinese travel show host, has long been a key executive behind Binance’s international expansion and user engagement strategies.
Strengthening Operations Under Scrutiny
Yi He’s appointment reflects Binance’s broader strategy to merge continuity with a more formal leadership structure. The exchange has spent the past year expanding compliance divisions, refining regional strategies, and maintaining steady user activity amid increasing legal pressure in multiple jurisdictions.
With Yi and Teng at the helm, Binance combines operational expertise with regulatory experience—a pairing designed to rebuild trust, pursue global growth, and solidify internal governance frameworks. The move signals a renewed focus on organizational durability, strategic expansion, and improved user management, positioning Binance for the next chapter in its evolution.
As Binance continues to navigate a complex regulatory landscape, the dual leadership of Yi He and Richard Teng may be the key to projecting stability and steering the company forward. How will this co-CEO model shape Binance’s next phase in global crypto markets?
