Crypto: Yi He Becomes co-CEO of Binance alongside Richard Teng
Binance has just made it official: it is restructuring its leadership. We refer to co-founder Yi He who becomes co-CEO. A role she now shares with Richard Teng! This decision marks a new stage for the crypto exchange, as it aims for one billion users worldwide.
In brief
- Yi He becomes co-CEO of Binance to strengthen the innovation and community vision of the crypto exchange.
- Binance opts for dual governance, combining strict regulation with massive expansion of its services.
Yi He, discreet architect of Binance, reaches the top
Present from the inception of the crypto exchange Binance in 2017, Yi He embodies a native vision. Before Binance, she had already co-founded OKCoin (now OKX). Enough to assert her place among the pioneering figures of the crypto ecosystem.
At Binance, she has led:
- the brand strategy;
- community growth;
- the initial fundraising rounds.
She notably contributed to raising the valuation of the crypto platform beyond 3 billion dollars. Since 2022, she has been leading Binance Labs. This is the venture capital arm of the exchange. She reportedly held at least 10% of a holding company registered in the Cayman Islands, according to the announcement.
Yi He also structured the user-oriented product strategy that is now at the heart of Binance’s growth.
A co-leadership designed to balance regulation and crypto innovation
The Yi He – Richard Teng tandem embodies a strategic shift for Binance. Since CZ’s resignation in November 2023, Richard Teng (former regulator at the Monetary Authority of Singapore) has been leading a profound transformation. His appointment, hailed as a choice of continuity, reassures global crypto regulators.
While Teng structures regulatory compliance, Yi He maintains product agility and the community spirit. Especially since Binance is now developing services aimed at institutional clients:
- independent custody via BBVA;
- acceptance of BlackRock’s digital liquidity fund as collateral;
- crypto-as-a-service solutions for banks and licensed brokers.
In any case, Binance seems to be moving towards dual-headed governance to navigate a changing crypto ecosystem. This model could inspire other giants in the Web3 industry seeking balance between compliance and disruption.
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My name is Ariela, and I am 31 years old. I have been working in the field of web writing for 7 years now. I only discovered trading and cryptocurrency a few years ago, but it is a universe that greatly interests me. The topics covered on the platform allow me to learn more. A singer in my spare time, I also cultivate a great passion for music and reading (and animals!)
The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.