Binance Names Yi He Co-CEO to Strengthen Compliance Amid Legal Pressures

Binance Appoints Yi He as Co-CEO Amid Global Expansion and Regulatory Hurdles

Binance has announced that co-founder Yi He has been named Co-CEO, joining Richard Teng in shared leadership of the world's largest cryptocurrency exchange. The move comes as the company navigates legal challenges, including a $1 billion terrorism financing lawsuit tied to the October 7, 2023 Hamas attack. Yi He's promotion reflects a strategic shift to strengthen regulatory compliance and user trust in the wake of founder Changpeng Zhao's criminal conviction.

Yi He, who has been central to Binance's growth since 2017, will focus on product development, retail operations, and user-oriented initiatives. Richard Teng, the former head of regional markets, will handle legal and regulatory responsibilities. Together, they aim to rebuild the company's reputation while expanding into regulated markets.

The dual leadership model underscores Binance's commitment to transparency and global compliance. Yi He's role highlights the exchange's push for innovation and community growth, while Teng's background in traditional finance bolsters its efforts to align with regulatory frameworks in key jurisdictions.

Strategic Leadership to Address Legal and Market Challenges

The leadership change is a response to mounting legal and regulatory pressure. Binance is currently facing a lawsuit from victims of the October 7 Hamas attack, who accuse the exchange of facilitating terrorist financing through weak compliance measures. The lawsuit, filed in North Dakota, names Binance, Zhao, and other executives as defendants. The case highlights the exchange's ongoing struggle to address concerns over its role in financial crime and sanctions enforcement according to reports.

At the same time, Binance has seen its trading volumes rebound to record levels in 2024 and early 2025. The platform's expansion into regulated markets, including Dubai and Europe, has been a key focus under Teng's leadership. Yi He's appointment is expected to accelerate product innovation, particularly in decentralized finance (DeFi) and Web3 infrastructure, while maintaining user trust.

Implications for the Crypto Industry and Global Markets

Yi He's promotion marks a significant step for gender diversity in crypto leadership. As one of Binance's founding figures, her influence has often been underappreciated despite her central role in building the company's community and product offerings. The appointment sends a message that the crypto industry is evolving toward more inclusive and balanced leadership.

The co-CEO structure is also seen as a stabilizing move for Binance. With regulatory scrutiny intensifying globally, the exchange needs to demonstrate its commitment to compliance while maintaining its competitive edge. Yi He's expertise in marketing and user engagement complements Teng's regulatory focus, offering a dual approach to navigating the complexities of global expansion.

Investors and industry observers are watching how Binance adapts to the changing landscape. The company's ability to secure licenses in key markets and address legal liabilities will be critical in determining its long-term success. Yi He and Teng's leadership will be tested as they balance innovation with the growing demands for accountability in the digital asset sector.

For investors, the leadership change signals a renewed focus on stability and regulatory alignment. Binance's recent steps toward compliance, including securing licenses in Dubai and working within the EU's MiCA framework, suggest a more cautious but strategic approach to growth. However, the ongoing lawsuits and legal settlements may continue to weigh on the company's reputation and financial position according to reports.

Users, meanwhile, will be watching for improvements in security and transparency. Binance's user base has grown to over 300 million, and maintaining trust will be essential for sustaining that growth. Yi He's emphasis on user-centric initiatives and product innovation could enhance the platform's appeal, especially as competition from other exchanges intensifies.

As the crypto industry continues to mature, Binance's leadership shift reflects broader trends toward professionalism and accountability. The dual-CEO model, while unconventional, may offer the flexibility and expertise needed to navigate the challenges ahead.